The prospects for renewed peace talks remain uncertain as the Iran war continues, with Iran seizing two international vessels in the Strait of Hormuz, further complicating the situation.
UN Development Chief Alexander De Croo stated that the war's fallout, including disruptions to fuel and fertilizer supplies, could push over 30 million people back into poverty. Fertilizers have either risen in price or become scarce as the Strait of Hormuz remains effectively closed to shipping.
De Croo warned that food insecurity will peak in a few months, and even if the war stops tomorrow, the effects are already in place. The World Bank, IMF, and UN World Food Program also warned of rising food prices.
Iran's deputy parliament speaker Hamidreza Hajibabaei announced that the central bank has received its first revenue from tolls imposed on shipping through the Strait of Hormuz. Iran has effectively closed the strait since late February, and the US imposed its own blockade in April.
Experts criticize the Iranian payment system as a violation of international law. Robert Huebert from the University of Calgary noted that freedom of navigation is the foundation of international maritime trade, and any fee would face opposition from nearly every state.
According to a Pentagon assessment, clearing the Strait of Hormuz of Iranian mines could take up to six months after hostilities end. Iran may have deployed at least 20 mines, some remotely operated via GPS.
Oil prices have surged sharply, with Brent crude crossing $102 per barrel, up from around $70 before the conflict began. This has caused an energy security shock worldwide.
Israeli and Lebanese officials are expected to hold a second round of direct talks in Washington. Lebanon may request a one-month extension of the ceasefire. Meanwhile, Israeli airstrikes killed at least five people in Lebanon.
Iran executed a man convicted of ties to the exiled opposition group MEK and Israeli intelligence, the second execution in a week.
US President Donald Trump extended the ceasefire, but Iranian officials did not publicly endorse the move and said no decision had been made on attending new talks. Iran demands the lifting of the blockade on its ports.
Source: www.dw.com