Up to 1,000 Vessels Wait Outside Strait of Hormuz as Traffic Halts in Gulf Crisis

PersianGulf

Hundreds of commercial vessels, including tankers and container ships, remain anchored and waiting near the Strait of Hormuz as regional tensions escalate amid the ongoing US-Israel war with Iran. On or around early March 2026, following coordinated US and Israeli strikes on Iran starting late February, Iran threatened to target any vessels attempting to transit […]

US Treasury Issues Waiver Allowing Russian Oil Sales to Tame Surging Prices

On March 12, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 134, authorizing the delivery and sale of Russian crude oil and petroleum products loaded on vessels on or before 12:01 a.m. Eastern Time March 12, 2026, through midnight April 11, 2026. This 30-day waiver expands a […]