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Articles for tag: Gulf states, Iran, mediation, Oil, Oman, Shipping, Strait of Hormuz, transit fees, Trump

Trump Drops 20% Strait of Hormuz Toll After Gulf Pushback; Replaces With Investment Deal Pledge

US President Donald Trump reversed his Monday announcement of a 20% toll on all ships transiting the Strait of Hormuz on July 14, saying Gulf states would make "trade and investment deals" with the United States instead. The original proposal alarmed maritime lawyers and energy markets, who said it violated international law and would trigger an oil price spike. Trump attributed the reversal to "highly productive conversations with Middle East leadership."

Pakistan awaits approval from Gulf states to unlock IMF loan

ISLAMABAD: Pakistan is looking towards Gulf states that had promised to bridge the financing gap as the International Monetary Fund (IMF) seeks confirmation before approving the ninth review. According to the details, the IMF’s condition for Pakistan to bridge the gap of $6 billion is simply an attempt to ensure its credibility. Non-materialisation may result in Pakistan sliding into default. Now, all eyes are on the Kingdom of Saudi Arabia (KSA), the UAE and Qatar to bail out Pakistan’s struggling economy. An official, who spoke to the publication on the condition of anonymity, said Pakistan has the only option to

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