US official: Iran's grip on Strait weakening
Reports indicate that U.S. President Donald Trump signed a law imposing new sanctions on Iran and Russia, amid a decline in Iran's influence over the Strait of Hormuz, where oil is flowing at a rate of 10 to 11 million barrels per day. It also comes as the Iranian currency depreciates and inflation reaches record levels. The expanded law includes tariffs of up to 100% on major Russian oil and gas buyers, lifts sanctions on Iran, and aims to pressure Moscow and Tehran, with support from Kyiv and Zelensky. Additionally, sources anticipate that Iran will gradually abandon its nuclear pursuit as its influence in the region diminishes.
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