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international

US waives Iran sanctions as Trump warns Tehran

The United States has waived sanctions on Iran for 60 days following the first round of talks linked to a new peace agreement. The waiver is part of an early step meant to ease tensions and support the talks. It allows Tehran to resume limited oil sales and receive payments during the 60-day period. US President Donald Trump said he would take action if Iran fails to respect the terms of the deal. He warned that Washington would respond if Tehran does not keep its side of the agreement. The move marks a temporary shift in US policy toward Iran and comes as both sides test the fragile peace process.

Abdulmumini Auwal SA June 23, 2026

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international

US disputes Iranian claims about closing Strait of Hormuz

The United States has rejected Iranian claims that its military closed the Strait of Hormuz, saying there is no evidence of a closure and that commercial ship traffic through the waterway has actually increased. Iran announced on Saturday that its military had closed the strategic Strait of Hormuz, in retaliation for what it calls a "blatant breach" of a recently signed US-Iran Memorandum of Understanding by the United States and Israel. Iran's top joint military command ordered the closure and warned that no ships or vessels should approach the waterway. US Vice President JD Vance disputed the closure during an interview with Fox News on Saturday, stating that there is no evidence Iran closed the Strait. US Central Command released a statement shortly after Iran's announcement, confirming that commercial ship traffic through the strait increased on June 20. "CCommercial ship […]

Abdulmumini Auwal SA June 21, 2026

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international

Russia calls on US and Iran to return to negotiating table on Strait of Hormuz

Russia has urged the United States and Iran to return to the negotiating table to resolve their ongoing conflict over the Strait of Hormuz, describing the diplomatic channel as the only viable path to de escalate tensions in the Persian Gulf region. The Russian Foreign Ministry issued the statement calling on both Washington and Tehran to resume talks aimed at reopening the crucial waterway that handles nearly 20% of global oil exports. Moscow emphasized that negotiations offer the best chance to prevent further military escalation. Russia's call comes after Iran announced the closure of the Strait and threatened to attack any vessel attempting to pass through, while US President Donald Trump has demanded other nations send warships to police the waterway through a naval coalition. Moscow stressed that diplomatic engagement should address the root causes of the crisis including sanctions […]

Abdulmumini Auwal SA June 11, 2026

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international

Iran vows to attack any vessel passing through Strait of Hormuz

Iran has threatened to attack any ship that attempts to pass through the Strait of Hormuz, one of the world's most critical shipping lanes for oil exports. Ebrahim Jabari, a senior advisor to the commander-in-chief of the Islamic Revolutionary Guard Corps, stated that the Strait is now closed and warned that guards and navy forces will set ablaze any vessel trying to transit. This threat marks Iran's most direct alert since announcing the closure of the crucial waterway, posing a significant threat to nearly 20% of global oil exports and potentially causing steep rises in crude oil prices worldwide. The Revolutionary Guard Corps warned that regular navy forces would ignite vessels attempting to navigate through the strait if anyone tries to pass despite the closure. Iranian Foreign Minister Abbas Araghchi indicated that several nations had approached Tehran seeking safe passage […]

Abdulmumini Auwal SA June 11, 2026

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international

Trump plans prolonged blockade of Iran, says report

President Donald Trump has told his aides to prepare for a prolonged United States naval blockade of Iran’s key shipping routes, including the Strait of Hormuz, according to US media reports. The move is part of efforts to intensify economic pressure on Tehran as the war enters its third month and peace efforts remain stalled. Trump has already ordered the US Navy to block ships heading to or from Iranian ports, a step aimed mainly at choking off Iran’s vital oil exports. He has repeatedly said Iran will never be allowed to develop a nuclear weapon and insists any settlement must be on US terms. In meetings with senior advisers, Trump decided that maintaining and even extending the blockade was a less risky option than resuming large scale bombing or withdrawing from the conflict entirely. Analysts say Washington wants to […]

Abdulmumini Auwal SA April 29, 2026

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international

Iran boosts Kharg Island oil exports despite ongoing war

Iran’s oil exports from Kharg Island have increased despite the ongoing war with the United States and Israel, according to Iranian officials and local media. Kharg is Iran’s main export terminal and handles the vast majority of the country’s crude shipments. Moussa Ahmadi, head of the Iranian parliament’s energy commission, said that inspections and meetings on the island showed that oil exports have not decreased in recent days but have actually gone up. His comments were carried by Iran’s ISNA news agency. Kharg Island normally handles around 90 to 95 percent of Iran’s crude exports, estimated at about 1.7 to 2 million barrels per day before the latest escalation. Despite air strikes on military targets there, US officials have said they deliberately avoided hitting oil loading infrastructure, allowing exports to continue. Maritime data firms report that crude loading at Kharg […]

Abdulmumini Auwal SA April 4, 2026

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international

Trump’s Iran tariff threat risks reopening China rift

US President Donald Trump’s threat to impose a 25 percent tariff on any country that trades with Iran is raising fears of a renewed rift with China, Tehran’s biggest commercial partner. Analysts say the move could drag Beijing back into a trade confrontation with Washington just as both sides were trying to stabilise ties.​ Trump announced on Monday that his administration is preparing the new tariffs as part of efforts to punish Iran over its crackdown on protests and to choke off the country’s oil revenues. The proposed measure would hit major buyers of Iranian crude and goods, including China, India and several countries in Asia.​ China has repeatedly criticised unilateral US sanctions and defended its energy and trade links with Iran as legitimate under international law. Beijing is also a key player in Iran’s oil, infrastructure and technology sectors […]

Abdulmumini Auwal SA January 13, 2026

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Nigeria

Nigeria’s FX reserves hit $42bn, strongest in six years

Nigeria’s external reserves have climbed to their highest level in six years, crossing the $42bn mark for the first time since September 2019. Latest figures from the Central Bank of Nigeria (CBN) show reserves stood at $42.03bn on September 19, 2025, up from $41.99bn the previous day. This represents a $40m increase in one day and a sharp rebound from earlier lows this year. The last time reserves were higher was on September 26, 2019, when they reached $42.05bn. Since then, reserves have come under pressure from weaker oil prices, high import demand, and foreign capital outflows. Unlike past temporary spikes, the current rally has shown consistency. Reserves have grown for 13 out of 14 trading days in September, gaining $610.8m (1.47%) between September 1 and 19 alone. In the second half of the month, reserves rose by nearly $583m […]

Abdulmumini Auwal SA September 23, 2025

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Nigeria

Nigeria supplies 67.6m barrels of crude to local refineries

The Federal Government says 67,657,559 barrels of crude oil were supplied to Nigerian refineries between January and August 2025. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the figure, noting that deliveries went to both modular and state-owned refineries such as Waltersmith, Aradel Energy, and Nigerian National Petroleum Company Limited (NNPCL) facilities. Eniola Akinkuotu, Head of Media and Strategic Communications at NUPRC, explained that the supplies were made under the Petroleum Industry Act (PIA) 2021 and the Domestic Crude Supply Obligation (DCSO) policy, which requires producers to reserve a portion of crude for local processors before export. Despite this allocation, refiners received far less than they requested. Industry data shows local plants demanded 123.5 million barrels for the first half of 2025, but only 67.6 million barrels were delivered over eight months—about 45% less than required. Earlier projections suggested that […]

Abdulmumini Auwal SA September 22, 2025

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