Latest Sanctions and embargoes News

US sanctions squeeze Iran middle class, upend housing sector

Jul. 23, 2019 2:10 AM EDT

TEHRAN, Iran (AP) — Stay-at-home mom Maryam Alidadi used to lead a comfortable middle-class life. The 35-year-old and her husband, a mechanic, could afford a spacious rental apartment in a central neighborhood of Tehran, along with a car, occasional restaurant meals and holidays abroad. Now they are barely...

UK: Europe-led mission will protect vital shipping in Gulf

Jul. 22, 2019 3:54 PM EDT

LONDON (AP) — Britain announced plans Monday to develop and deploy a Europe-led "maritime protection mission" to safeguard shipping in the vital Strait of Hormuz in light of Iran's seizure of a British-flagged tanker in the waterway last week. Briefing Parliament on the budding crisis, Foreign Secretary...

US slaps Chinese firm for importing Iranian oil

Jul. 22, 2019 11:55 AM EDT

WASHINGTON (AP) — The Trump administration is penalizing a Chinese company and its top executive for violating U.S. restrictions on dealing with Iran. Secretary of State Mike Pompeo says the U.S. is imposing sanctions on Zhuhai Zhenrong (ZHOO-hi ZHEN-wrong) Limited and its chief executive for violating...

Turkish minister says govt will respond to any US sanctions

Jul. 22, 2019 7:56 AM EDT

ANKARA, Turkey (AP) — Turkey's foreign minister has reiterated that the country intends to respond to any U.S. sanctions over its purchase of Russian-made S-400 missile defense systems. However, Mevlut Cavusoglu told Turkey's TGRT television in an interview Monday that President Donald Trump is reluctant...

New audio shows UK could not prevent Iran takeover of tanker

Jul. 21, 2019 12:06 PM EDT

LONDON (AP) — The release Sunday of an audio recording has shed new light on the seizure of a British-flagged tanker at the hands of Iran's Revolutionary Guard as tensions flare in the strategic Strait of Hormuz. The audio released by maritime security risk firm Dryad Global shows that a British frigate...

Iran says its seizure of British ship a 'reciprocal' move

Jul. 21, 2019 1:35 AM EDT

TEHRAN, Iran (AP) — Iran's seizure of a British oil tanker was a response to Britain's role in impounding an Iranian supertanker first, senior officials said Saturday, as newly released video of the incident showed Iranian commandos in black ski masks and fatigues rappelling from a helicopter onto the...

Gulf tanker incidents may raise shippers' costs, cut traffic

Jul. 20, 2019 7:04 PM EDT

Seizures of oil tankers and other hostile Iranian measures in the Strait of Hormuz are already raising insurance rates for shipping companies and could eventually reduce tanker traffic in the vital waterway, with a spike in global oil prices a serious risk even without war, energy and maritime experts say. On...

Iran tanker seizure linked to earlier act by UK marines

Jul. 20, 2019 9:10 AM EDT

LONDON (AP) — Taken on its own, Iran's seizure of a British-flagged oil tanker in the Strait of Hormuz may seem like a brazen act of aggression, a provocative poke in the nose to both Britain and its ally, the United States. But Iran seems to view the armed takeover of the Stena Impero as a carefully...

Iran's seizure of UK tanker in Gulf seen as escalation

Jul. 19, 2019 8:56 PM EDT

LONDON (AP) — Iran seized a British-flagged oil tanker Friday and briefly detained a second vessel in the Strait of Hormuz, intensifying tensions in the strategic waterway that has become a flashpoint between Tehran and the West. The seizing of the British tanker marked perhaps the most significant...

The Latest: Central Command says US intensifying air patrols

Jul. 19, 2019 7:34 PM EDT

TEHRAN, Iran (AP) — The Latest on developments related to tensions between the U.S and Iran (all times local): 2:10 a.m. U.S. Central Command says the U.S. has intensified air patrols over the Strait of Hormuz in response to the Iranian seizure of a British tanker. A Central Command spokesman, Lt. Col....