US sanctions hit Iran's civilian air sector

Spanish Market: Crude oil, Freight
08/09/26

The US Treasury Department on Tuesday imposed sanctions on 27 Iranian airlines and suspended previously granted humanitarian exemptions that allowed non-US airlines to transport passengers to and from Iran.

The US also suspended a previously-granted authorization allowing payments to Tehran for overflights by third-country aircraft. The action announced on Tuesday is part of Treasury's "Operation Economic Outcast," aimed at cutting Iran's financial ties with the rest of the world.

The US has maintained severe economic sanctions on key sectors of the Iranian economy since 2019, but Tehran over time has found ways to bypass many of them. The previously-sanctioned Mahan Air obtained three Boeing 777 aircraft earlier this summer through front companies in the UAE and Oman, Treasury said on Tuesday.

The most significant US measure targeting the Iranian economy involves a naval blockade of Iranian ports, which since mid-July has cut off Iran's exports to China.

But Iran also retains the ability to disrupt commercial traffic through the strait of Hormuz, restricting exports of crude, refined products and LNG from the Mideast Gulf.

By Haik Gugarats

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08/09/26

Canada’s retaliatory tariffs against US go into effect

Calgary, 8 September (Argus) — Canada's retaliatory tariffs against C$27.6bn ($20bn) of US goods went into effect today, as the trade war between the two tightly-linked countries escalates. Canada is imposing as much as a 50pc tariff on nearly 650 US products, including milk, cheese, steel, aluminum, wood and paper products, honey, and perfume. The trade action comes after the US on 22 August imposed new tariffs on Canadian goods after negotiations broke down the day before. "Since a fair deal wasn't on the table, we made the right choice to walk away from a bad one," Canadian prime minister Mark Carney said in a video address to Canadians posted Tuesday. "They wanted us to become even more reliant on them, not less." Carney said an escalating conflict is not constructive, but the tariffs put in place today are necessary to protect Canadian businesses. Canada was among the first targeted by US president Donald Trump's trade actions at the start of his second term, prompting Carney to shore up trade deals elsewhere with the goal of doubling trade with non-US countries within the next 10 years. Canada's merchandise exports to the US fell to a four-month low of C$51bn in July, while a record outflow to other regions, including the EU and China, was registered. Carney on 1 September said Canada is open to resuming trade talks once the US "starts being serious". Five days later, Trump on social media complained about the Canada-US exchange rate, before making another post referring to Carney as "Governor" — a repeated taunt suggesting that Canada become the 51st state. He also renamed the one of the lakes bordering the countries, Lake Ontario, as "Lake America." Trump on Monday took aim at Canadian-based jet manufacturer Bombardier by writing "NO MORE SELLING BOMBARDIER IN THE UNITED STATES!" in a social media post. Bombardier's jets are manufactured in Canada, Mexico, and the US where it does business with 2,800 US companies across 47 states. "The American aerospace industry is a clear winner on trade and exports," Bombardier said in a statement the same day. On a provincial level, Saskatchewan is levying a 50pc tax on US alcohol, also effective on Tuesday. Alberta, now the lone province not acting against US alcohol imports, has said it is under consideration. Some provincial leaders have called on Alberta to restrict energy exports to the US, but Alberta has maintained its preference for diplomacy. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Hormuz traffic rose to 15 vessels Monday: Windward

08/09/26

Hormuz traffic rose to 15 vessels Monday: Windward

New York, 8 September (Argus) — Vessel traffic through the strait of Hormuz rose to 15 transits on Monday from 12 the previous day, but still remained well below pre-war levels, data from maritime security Windward shows. Of the 15 vessels that crossed the strait Monday, six were inbound, two using the US-assisted southern lane and four the Iranian controlled northern lane. There were nine outbound ships, with six taking the northern lane, two the southern and one the center, Windward data show. The amount of traffic through the strait of Hormuz remains well below its pre-war level of around 135 vessels per day. US Central Command (Centcom) said in a post on X that as of 7 September its forces have redirected 94 commercial vessels, disabled three and boarded two others as part of efforts to enforce a blockade against Iranian ports. Iran will soon announce a new and broader restricted zone for vessels looking to cross the strait, the head of Iran's Supreme National Security Council, Mohsen Rezaei, said. This new zone will begin from the line of the US Navy blockade in the Gulf of Oman and extend westward to areas within the Mideast Gulf. Ships approaching the area would be warned to stay away or risk being included on Iran's sanction list, according to Rezaei. "There will be consequences, including problems with insurance and future passage," he said. By Delfina Marchese Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Saudi Arabia says several energy facilities attacked

08/09/26

Saudi Arabia says several energy facilities attacked

Dubai, 8 September (Argus) — A number of energy sector facilities in the southern region of Saudi Arabia came under attack in the early hours of Tuesday, according to the Saudi energy ministry, causing fires at a number of locations. State-controlled Saudi Aramco temporarily halted operations at some of those facilities, the energy ministry said, as specialised emergency response teams work to contain the fire, secure the sites and assess the damage. The attacks had resulted "in injuries of varying severity among several citizens and residents", it said. The authorities are working to implement contingency measures to ensure business and operational continuity in accordance with company policy, the ministry said. The energy ministry did not specify which facilities were targeted, or who was behind these latest attacks. But the military spokesman for Yemen's Houthi rebels, Yahya Saree, has since issued a statement to say that the group had carried out "an extensive military operation" targeting Saudi Aramco in Abha, Najran and Jizan, the location of a key 400,000 b/d refinery that has been targeted by the Houthis in the past. Saree said "dozens of ballistic missiles and drones" were launched at Saudi Arabia, and that the strikes had "caused significant damage" to the facilities. The Houthi statement largely aligns with a statement issued hours earlier by Turki al-Maliki, the spokesman for the Saudi-led military coalition fighting in Yemen, who said the group had targeted "civilian and economic sites" in the cities of Abha, Khamis Mushait, Jizan and Najran, resulting in injuries to more than 70 civilians. Key Saudi infrastructure, including energy facilities, have increasingly come under attack by the Houthis since the militia group declared an end to a period of "de-escalation" with Riyadh in mid-July. The Houthis have since claimed several attacks on key Saudi energy facilities, including the 400,000 b/d Jizan refinery and the key 7mn b/d East-West pipeline that the kingdom has been using to move significant volumes of crude across the country in recent months, for export from the Red Sea. The Financial Times reported that the Jizan refinery had come under a new attack by the Houthi rebels on Monday. A source with knowledge of the events said the attacks announced by the ministry today were in addition to yesterday's incident. It is as yet unclear whether the Jizan refinery was again targeted in the Tuesday attacks. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US, Iran trade strikes on ships as war deepens

06/09/26

US, Iran trade strikes on ships as war deepens

Singapore, 6 September (Argus) — Three Iranian oil tankers were struck by US military forces on 5 September after Iran attempted to target two American naval vessels with ballistic missiles, according to US Central Command (Centcom), as Tehran warned it would respond with further reprisals if the attacks persist. The incident marked the latest escalation in a six-month conflict as Iran tries to further tighten its grip over the strait of Hormuz while the US increases pressure through military action and economic sanctions . The tankers targeted were linked to Iran's Islamic Revolutionary Guard Corps (IRGC), Centcom said, which it accused of launching attacks on a US aircraft carrier and a guided-missile destroyer. "CENTCOM permanently disabled the IRGC crude oil carriers M/T Downy off the coast of Kharg Island and M/T Stark 1 near Jask", it said in the statement. "American forces also completely destroyed the unladen crude oil carrier M/T Kylo (also known as the "Noxen") in the Gulf of Oman, striking the vessel in multiple critical locations to render it inoperable". The three tankers were "part of a multibillion-dollar shadow network that funds the IRGC and its regional proxies", Centcom said. Video footage released by Centcom showed multiple strikes on the Kylo followed by several explosions. It later said in a post on social media platform X that the vessel had sunk, alongside additional footage that showed the tanker heavily listing to the starboard side. Admiral Brad Cooper, commander of Centcom, defended the operation, saying "if you shoot at two of our ships, we will impose an even higher economic cost – taking out three of yours." Iran later indicated that it had responded to the US action. The IRGC said its naval forces had "subsequently targeted three oil tankers traveling along an unauthorized route in the strait of Hormuz as well as three vessels affiliated with the US in other areas" following the attacks on the Iranian tankers, according to IRGC-affiliated Tasnim news agency. The group also repeated earlier warnings against vessels using shipping routes through the strait of Hormuz that have not been approved by Iran. There was no immediate confirmation from Centcom regarding the IRGC's claims. The UK Maritime Trade Operations had not confirmed any of the attacks on commercial vessels in the strait of Hormuz as of publication. Kylo and Stark 1 are Suezmax tankers built in 2001 and 2000, respectively, while Downy is a 2004-built very large crude carrier. By Sean Lui Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Hormuz traffic down to 3 vessels: Windward

04/09/26

Hormuz traffic down to 3 vessels: Windward

New York, 4 September (Argus) — Vessel traffic through the strait of Hormuz fell to its lowest level in months on Thursday following an uptick in military exchanges between the US and Iran in the first half of the week. Only three vessels crossed the strait on Thursday, with two inbound transits on the Iranian-controlled northern lane and one outbound transit on US-assisted southern lane, according to maritime security firm Windward. That is one-third of the prior day levels and about 2pc of its pre-war baseline of 135 vessels daily. US vice president JD Vance's assertion that 15mn bl of crude made it through the strait of Hormuz on Thursday thanks to US support are not corroborated by vessel traffic data reviewed by Argus . The southern US-assisted transit lane along the coast of Oman remains the highest risk corridor accounting for 21 out of 24 projectile strike incidents reported since 6 July, according to the UK Maritime Trade Organisation's Operation Centre. The US has started to target Iranian government-owned tankers as direct retaliation for Iranian attacks on the tankers Senegal Prosperity and Sidr , according to Windward, confirming that the US struck two empty Iranian tankers as part of their 1 September strikes. By Charlotte Bawol and Delfina Marchese Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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