Daily brief
President Trump has threatened to impose tolls on ships passing through the Strait of Hormuz if negotiations with Iran over its nuclear program collapse. The warning comes amid renewed tensions after Iran claimed to have closed the strait, though US officials say passage remains unimpeded. Oil prices dropped 8% after earlier tensions eased.
Iran declared the Strait of Hormuz closed over deadly Israeli strikes in Lebanon, and issued new transit rules for the waterway.
The business empire of Iran's Islamic Revolutionary Guard Corps (IRGC) stands to benefit from lifted US sanctions, with reports of a potential $10 billion trade turnover target between Russia and Iran.
The US and Qatar are working to give Iran access to billions of dollars in frozen cash, while Iran has resumed oil loadings at Kharg Island after a US blockade was lifted.