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Trump backtracks on plan to toll Hormuz ships

US President Donald Trump on Tuesday abruptly scrapped a planned 20 percent levy on ships transiting the Strait of Hormuz amid clashes with Iran, saying he would instead seek compensation from Gulf allies via trade deals. That announcement caused oil prices to spike and alarmed allies -- especially given that the United States has previously slammed Iran for its own plans to charge shipping fees for the Strait.
Trump announced the u-turn on his Hormuz toll shortly before a meeting with Iraq's new prime minister at the White House

Israel allocates $434 million for 34 new West Bank settlements

JERUSALEM, July 14 (Reuters) - Israel's security cabinet approved a budget of 1.3 billion shekels ($434 million) for establishing 34 new settlements in the occupied West Bank, right-wing Finance Minister Bezalel Smotrich said on Tuesday, adding to tensions over territory widely viewed as central to a potential Palestinian state.

U.N. bodies, Palestinians and most countries view the settlements as illegal under international conventions - a stance disputed by Israel - and a primary obstacle to peace.

FILE PHOTO: Israeli Finance Minister Bezalel Smotrich speaks at a press conference regarding settlements expansion for the long-frozen E1 settlement, that would split East Jerusalem from the occupied West Bank, near the Israeli settlement of Maale Adumim in the Israeli-occupied West Bank, August 14, 2025. REUTERS/Ronen Zvulun/File Photo

Analysis-After Hormuz, Iran turns to Red Sea gateway as new pressure point

By Samia Nakhoul

BEIRUT, July 14 (Reuters) - Having choked off shipping through the Strait of Hormuz, Iran is now signaling it could play its most dangerous card yet: using Yemen's Houthi allies to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world's most vital energy arteries at risk.

A view of a village on the coast of Bab el-Mandeb, Yemen April 2, 2026. REUTERS

Explainer-Trump wants fees for Hormuz just like Iran - is that legal?

July 14 (Reuters) - President Donald Trump said on Monday that the United States would charge 20% on cargoes for use of the Strait of Hormuz after a ceasefire with Iran broke down amid a dispute over Tehran's efforts to maintain control over the strategic waterway.

Iran shut down the 34 km (21 mile) wide strait that was the main route for a fifth of world oil supplies and other vital goods including fertilisers when the U.S. and Israel attacked it on February 28, causing a global energy shock.

FILE PHOTO: A map showing the Strait of Hormuz and a 3D printed oil pipeline are seen in this illustration taken March 23, 2026. REUTERS/Dado Ruvic/Illustration//File Photo

Russia accuses Ukraine of terrorism in Sea of Azov as Kyiv opens new front in war

July 14 (Reuters) - Russia on Tuesday accused Ukraine of terrorism over its escalating attacks on shipping in the Sea of Azov, a route that handles about a quarter of its grain exports.

Ukrainian drones hit 11 Russian vessels in the Sea of Azov overnight, Kyiv's drone forces commander said.

In a statement on Telegram, Robert Brovdi said the targets included five tankers, five dry cargo vessels and a tugboat, bringing the total number of vessels struck in the past nine days to 116.

A satellite image of the Sea of Azov, July 13, 2026. 2026. NASA WORLDVIEW/Handout via REUTERS

Chemical tanker Stolt Magnesium hit by explosion off Omani coast, manager says

LONDON, July 14 (Reuters) - The chemical tanker Stolt Magnesium caught fire on Tuesday following the "explosion of an unidentified external device" as it was sailing in the Arabian Sea off the coast of Oman, according to its manager Stolt Tankers, the main unit of Norwegian shipping company Stolt-Nielsen's.

• The incident occurred at 12:40 a.m. (2040 GMT on Monday) and caused a fire in the vessel's engine room, it said in a statement.

• All of the vessel's seafarers were safe and accounted for, it added, and the crew had begun fighting the fire.

A picture taken August 17, 2020 shows the chemical tanker Stolt Magnesium, which caught fire on Tuesday following the "explosion of an unidentified external device" as it was sailing in the Arabian Sea off the coast of Oman, according to its manager Stolt Tankers, the main unit of Norwegian shipping company Stolt-Nielsen's SNI.OL, in Rendsburg-Eckernforde, Germany, in this picture obtained by Reuters on July 14, 2026. Hans-Peter Schroder/via REUTERS

Analysis-Can US Senator Lindsey Graham's Ukraine initiatives survive without him?

By Patricia Zengerle, Max Hunder and Andrea Shalal

WASHINGTON/KYIV, July 14 (Reuters) - For Ukraine and its supporters, the sudden death of U.S. Senator Lindsey Graham raises an important question: Without a close ally of President Donald Trump advocating loudly for President Volodymyr Zelenskiy's government, will his administration's recent tilt in favor of Kyiv last?

The answer will especially affect two major issues - legislation to sanction Russia, which Graham pushed for more than a year, and military assistance for Ukraine.

FILE PHOTO: A picture taken on July 10, 2026 shows U.S. Senator Lindsey Graham (R-SC) speaking to the media after his meeting with Ukraine's President Volodymyr Zelenskiy, amid Russia's attack on Ukraine, in Kyiv, Ukraine. REUTERS/Valentyn Ogirenko/File Photo

Trump says the US will take out Pickaxe Mountain in Iran

WASHINGTON, July 13 (Reuters) - U.S. President Donald Trump on Monday said that the U.S. would take out Pickaxe Mountain in Iran, as he warned that Washington would continue to hit the country hard.

"We're going to take out Pickaxe Mountain. Tell the Iranians to be ready," Trump said in an interview on the Hugh Hewitt Show.

U.S. President Donald Trump speaks during a Freedom 250 Grand Prix Showcase at the White House in Washington, D.C., U.S., July 13, 2026. REUTERS/Kylie Cooper

US renews blockade, trades strikes with Iran over Hormuz strait

US forces struck Iran and reimposed a naval blockade on its ports as Tehran hit Washington's Gulf allies on Wednesday, vowing the Strait of Hormuz would stay closed "until the US ends its aggression". "The retaliatory operations of the fighters will continue, and the Strait of Hormuz will remain closed until the United States ends its acts of aggression," the Guards said in a statement on Wednesday.
Ships sail near the Strait of Hormuz off the eastern coast of the United Arab Emirates at Khor Fakkan on July 13, 2026