World·Middle East
Hormuz tanker hit again; Iranian rial hits new low as blockade squeezes oil revenue
A commercial tanker was hit by an unknown projectile in the Strait of Hormuz on Sunday, damaging its engine room, the United Kingdom Maritime Trade Operations said, with the crew safe and no environmental impact reported, Fox News relayed via Reuters. Iran’s free-market rial traded around 2.688 million to 2.695 million per dollar Saturday—a new low—while state television said banks began selling up to $2 billion to support the currency, which has lost more than half its value in the past year amid U.S. sanctions and the naval blockade. Iranian Foreign Ministry spokesman Esmaeil Baghaei said Tehran’s focus remains Hormuz security and rejected U.S. nuclear terms; parliament speaker Mohammad Baqer Qalibaf said the strait will not reopen until Iran’s seven conditions are met.
- Fox NewsIran says no military solution to war as currency hits new low under US blockade