Today marks Day 78 of the US-Iran War, a conflict that has fundamentally reshaped global security and energy corridors since it erupted via massive joint US-Israeli surprise airstrikes on February 28, 2026. What began as an explosive opening campaign has ground into a tense, highly volatile "dual blockade" across the Persian Gulf, with both sides now hovering on the precipice of a renewed, large-scale military confrontation.
Reports indicate that a 'professional mechanism' will soon be unveiled by Iran to manage traffic in the Strait of Hormuz along a designated route, a senior Iranian lawmaker said. Ebrahim Azizi, Chairman of the Iranian parliament's National Security and Foreign Policy Committee, wrote on X, "In this process, only commercial vessels and parties cooperating with Iran will benefit from it." He added that "necessary fees will be collected for the specialised services provided under this mechanism".
The announcement came at a time Israel launched a massive series of airstrikes on southern Lebanon, despite an extension of the truce between the two countries. The continuing bombardment has only increased scepticism about the truce among the many thousands of Lebanese driven from their homes in the south.
Pakistan's Interior Minister Mohsin Naqvi has arrived in Tehran for emergency talks. Islamabad is attempting to salvage the fragile, repeatedly violated ceasefire framework that originally commenced in April.
However, the economic warfare on the water continues unabated. The United States Navy is rigorously enforcing its blockade on all vessels entering or leaving Iranian ports, costing Tehran an estimated $500 million daily. In retaliation, Iran has maintained a tight chokehold over commercial shipping traversing the Strait of Hormuz, driving global bond and commodity markets into prolonged volatility.
Catch all the latest updates on the conflict here.
