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May 6, 2026

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EU says energy costs tied to Hormuz crisis have surged past $35B

Global energy price increases tied to the Hormuz disruption are driving higher import costs in Europe, despite limited reliance on gas flowing through the strait.

Amirhossein KHORGOOEI / ISNA / AFP via Getty Images

Analysis

Israel fears Trump seeking Hormuz win while sidestepping Iran nuclear issue

While President Donald Trump keeps pressuring Iran on reopening the Strait of Hormuz, Israel fears the American leader will decide to cut his losses and sideline the nuclear threat.

In Tel Aviv, reporting on national security, Israeli politics, defense

US Defense Secretary Pete Hegseth speaks at a press briefing at the Pentagon in Washington, DC, on April 24, 2026.

Pentagon says Iran ceasefire continues despite UAE attack

"We expected there would be some churn at the beginning," Defense Secretary Pete Hegseth said of the US Navy-led operation to open the Strait of Hormuz to commercial shipping.

Latest News

Macron casts doubt on Trump’s Hormuz operation as France-US gap grows

WASHINGTON, DC - AUGUST 18: U.S. President Donald Trump speaks during a meeting with Ukrainian President Volodymyr Zelensky (R), French President Emmanuel Macron (L), and European leaders at the White House on August 18, 2025 in Washington, DC. President Trump hosted President Zelensky at the White House for a bilateral meeting and an expanded meeting with European leaders to discuss a peace deal between Russia and Ukraine. (Photo by Win McNamee/Getty Images)

US sanctions Iran’s shadow banking channels moving oil proceeds from China

US Treasury Secretary Scott Bessent testifies during a Senate Committee on Appropriations, Subcommittee on Financial Services and General Government hearing in the Dirksen Senate Office Building on April 22, 2026 in Washington, DC.

Analysis

Without exit strategy, Israel faces emboldened Hezbollah, limited options on Iran

Ibrahim AMRO / AFP via Getty Images

In Tel Aviv, reporting on national security, Israeli politics, defense

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Elizabeth Hagedorn

Diplomatic Correspondent

In Washington, DC, reporting on diplomacy, regional politics, human rights

Jared Szuba

Defense and Security Correspondent

In Washington, DC, reporting on defense, national security, military

Joyce Karam

Editor-in-Chief

Rosaleen Carroll

News Reporter and Supporting Editor

In Washington, DC, US, reporting on the Middle East

Paul J. Saunders

In Washington, DC, reporting on Russia in the Middle East

Intel: Trump laments oil price war as Saudis lose key defenders in Congress

President Donald Trump on Tuesday bemoaned the oil price war between Saudi Arabia and Russia that has rattled energy markets and exacerbated coronavirus-related layoffs throughout the United States.

Iraqi PM-designate may be on futile mission to win Iranian support

Iraq's Prime Minister-designate Adnan al-Zurfi is on the verge of losing his nomination while simultaneously trying to appease the United States and Iran in his Cabinet formation.

Can Russia, Saudi Arabia strike new OPEC+ deal with US help?

As the OPEC+ deal has expired, Russia and Saudi Arabia remain at odds, though the United States offered encouraging words that production cuts might be negotiated.

Russian President Vladimir Putin, Defence Minister Sergei Shoigu and Syrian President Bashar al-Assad attend a meeting in Damascus, Syria January 7, 2020. Sputnik/Alexei Druzhinin/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. - RC29BE9XR6LF

Putin sees opportunity in Syria's COVID-19 crisis

Russian President Vladimir Putin has ordered the dispatch of medical assistance to help Syria combat the spread of the novel coronavirus, but his real objective is far from altruistic.

A member of the medical team sprays disinfectant to sanitize wheel chairs in Imam Reza's holy shrine, following the coronavirus outbreak, in Mashhad, Iran February 27, 2020. Picture taken February 27, 2020. WANA (West Asia News Agency) via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY - RC2FAF9KEZWN

Intel: US stands down on Europe’s new trade mechanism with Iran

Europe launched its first shipment to Iran today using a mechanism that was originally intended to function as a workaround to US sanctions in a Hail Mary bid to salvage the unraveling Iran nuclear deal.

Senator Ted Cruz (R-TX) questions judicial nominees during a hearing before the Senate Judiciary Committee on Capitol Hill in Washington, U.S., December 4, 2019. REUTERS/Joshua Roberts - RC2HOD9HX7RA

Key Trump ally blasts administration for extending Iran nuclear waivers

The Donald Trump administration is casting the renewal of four civil nuclear waivers as “restrictions” on Iran’s nuclear program, but Sen. Ted Cruz argues that they enable Tehran.

Europe sends medical aid to Iran using sanctions workaround

Iran has received medical equipment from France, Germany and Britain, under a trade mechanism that circumvents the US sanctions on the country, which has been hit hard by the coronavirus outbreak.

Iran battles coronavirus amid dramatic slump in oil income

The Iranian government says it is experiencing its lowest oil revenues in a decade amid the coronavirus pandemic.

Intel: Erdogan, Trump talk coronavirus

US President Donald Trump and Turkish President Recep Tayyip Erdogan discussed the COVID-19 crisis by phone today, the White House announced.

COVID-19 menaces oil market

The novel coronavirus pandemic could have an even greater impact on the global oil glut than the Saudi-Russian showdown over prices and output.

A man carries a sack of wheat flour he received at a camp for people recently displaced by fighting in Yemen's northern province of al-Jawf between government forces and Houthis, in Marib, Yemen March 8, 2020. Picture taken March 8, 2020. REUTERS/Ali Owidha - RC29GF9R1PMN

US slashes millions in Yemen aid despite pandemic

As Yemen stares down a coronavirus crisis, the United States is set to slash $73 million in humanitarian assistance because of worsening Houthi aid restrictions.

Patients with coronavirus disease (COVID-19) lie in beds at the ICU of Sasan Hospital, in Tehran, Iran March 30, 2020. WANA (West Asia News Agency)/Ali Khara via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY - RC2GUF9M2YGL

How will the COVID-19 crisis impact US-Iran tensions?

If Iran can hold out long enough against COVID-19, Tehran and Washington might be able to come to terms.