Iran created a new organisation to manage the Hormuz Strait; Drone attack causes fire at UAE nuclear plant; Iran shares new peace plan amid U.S. threats.
Meanwhile, Israel intercepts aid flotilla to Gaza and Iran war costs businesses $25 billion.
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The latest news at this hour:
IRAN CREATED NEW ORGANISATION TO MANAGE HORMUZ STRAIT: Iran’s Supreme Security Council announced the creation of the Persian Gulf Strait Authority (PGSA), which will provide “real‑time updates on the Hormuz Strait operations and latest developments” and charge ships for safe passage.
On Sunday, CNN reported that Iran also plans to charge global tech companies and submarine cable companies for using the subsea cables in the strait, which carry internet and financial traffic between the Gulf states, Europe and Asia, threatening to cut off supply if they do not pay the fees. As making international payments to Iran is heavily restricted, it’s unclear how these tech companies could pay Iran.
DRONE ATTACK CAUSES FIRE AT UAE NUCLEAR PLANT: On Sunday, a drone hit an electrical generator near the Barakah Nuclear Power Plant in Abu Dhabi, while two more drones were downed by UAE air defence, Reuters reported. The UAE has blamed Iran and proxies for the attack and condemned the escalatory attacks, while also saying that there was no radiological threat from the attack. Saudi Arabia also intercepted three drones launched from Iraqi airspace. The U.A.E., Qatar and Kuwait condemned the attack for violation of Saudi sovereignty.
IRAN SHARES NEW PEACE PLAN AMID U.S. THREATS: A Pakistani source told Reuters that Iran drafted a revised peace proposal, as U.S.-Iran peace talks are facing an impasse.
On Sunday, Donald Trump warned Iran that “there won’t be anything left of them” if there is no progress towards the peace deal. As Trump threatens “much harder” strikes on Iran amid the deadlock, U.S. officials expect him to convene his top security team to discuss military options on Tuesday, Axios wrote. Trump spoke to Israeli Prime Minister Netanyahu on Sunday evening ahead of the meeting to discuss the possibility of resuming the war, Netanyahu’s office told The Times of Israel.
Oil prices have once again risen as the U.S. pressures Iran to work towards the peace deal. On Monday, the global benchmark Brent crude went up by 1.7% to $111.13, while U.S.-traded oil was by 2.1% higher at $107.62, BBC reported.
ISRAEL INTERCEPTS AID FLOTILLA TO GAZA: Several vessels from a humanitarian aid flotilla were boarded by Israeli military personnel off the coast of Cyprus on their way to the Gaza Strip, Al Jazeera cites The Global Sumud Flotilla movement that organized the mission.
In total, more than 50 vessels departed from the Turkish port of Marmaris last week to deliver humanitarian aid to Gaza, despite the Israeli naval blockade, maintained since 2007. Earlier on Monday, one of the ships called Munki came under attack by Israeli military boats.
Gaza’s health ministry reported that at least six people were killed and 40 were injured in Israeli attacks over the past day.
IRAN WAR COST BUSINESSES $25 BILLION: The U.S.-Israeli war with Iran has cost businesses around the world $25 billion in additional costs, Reuters reported. Businesses have had to pay more for energy, severed trade routes and disrupted supply chains.
At least 279 major companies in the U.S., Europe, and Asia, according to their corporate statements, had to cut production, lay off staff, charge more for fuel, or turn to their governments for assistance.
Stay safe out there!
Best,
Oleksandra
 | A guest post by
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The "aid" flotilla contains drugs and condoms again? Or is it actual aid this time? Don't automatically fall for the IHH's propaganda...