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Hormuz closure fallout

Iran’s parliament speaker has warned that, despite its apparent strength, the US is quite vulnerable economically as a result of its aggression against Iran and the closure of the Strait of Hormuz. Mohammad Bagher Ghalibaf made the remark in a social media post, using a famous internet meme based on the Schrödinger paradox to show how vulnerable the US is to the situation in the Hormuz Strait and the resulting oil market crisis. He said that, despite its apparent hegemony, US weakness is now fully exposed, and that it is clear Washington cannot suffocate Iran economically without blowback. Ghalibaf attached to his post a recent report by the American multinational bank J.P. Morgan. The banking giant said that, for the first time since the start of US–Israeli aggression, it does not have a clear baseline view for oil markets. J.P. Morgan warned that global inventories of crude and refined products have fallen by about 555 million barrels. It cautioned that if oil supply disruptions in West Asia persist, prices could move higher later this year as inventories decline further.

Yemen warns Saudi Arabia

Yemen’s top military officials have issued a stark warning, stressing that the continuation of Saudi Arabia’s aggression against the country will be met with a decisive and devastating response. The warning came in a joint statement by Yemeni Minister of Defense, Major General Mohammed Nasser Al-Atefi, and Chief of the General Staff, Major General Youssef Al-Madani. They stressed that Yemen will respond to Saudi Arabia’s continued blockade with blockade, while any escalation will be met with a heavy response that would target Saudi Arabia’s strategic depth and interests. The two generals noted that Yemeni naval forces have guaranteed security of navigation for all ships in the Red and Arabian seas, except for Saudi vessels, which will find nothing but fire in Yemen’s waters. Their remarks followed earlier comments by President of Yemen's Supreme Political Council, Mahdi al-Mashat, who slammed the Saudi blockade, adding that the situation has reached a stage that can no longer be tolerated. Mashat noted that the Yemeni army and people have taken action to end the blockade, warning of further escalation if their demands were not addressed.

US ICC sanctions

A new report has revealed that US President Donald Trump’s administration is preparing sanctions against the entire International Criminal Court (ICC) and plans to announce them soon. The report cited two sources familiar with the matter, who spoke on the condition of anonymity. The sources said sanctions against the court have been prepared, though the exact timing of an announcement remains unclear. According to The Wall Street Journal, the decision could be finalized as soon as this week during the UN General Assembly meeting. The report noted that the restrictions will apply to most financial transactions with the ICC and could potentially paralyze the court’s work by prohibiting dollar transactions and cutting it off from a large part of the global financial system. Back in July, US Secretary of State Marco Rubio announced a campaign to isolate the court, calling on other countries to withdraw from the tribunal. Washington imposed sanctions on a number of ICC judges and prosecutors after the court issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Minister of Military Affairs Yoav Gallant for committing war crimes and crimes against humanity in Gaza.

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