The Strait of Hormuz is on fire, and the world's energy markets are watching every move. In this edition of World News with Pankaj Mishra, we break down the fastest-moving crisis on the planet.
An IRGC gunboat has opened fire on a commercial vessel near the Strait of Hormuz - striking the bridge without warning, directly contradicting Tehran's claim of enforcing maritime law. The UK Maritime Trade Operations confirmed the attack. With nearly 20% of global oil flowing through this narrow corridor, any escalation here hits energy prices worldwide.
Meanwhile, Iran is sending a muscle-flexing signal: Tehran wheeled out the Khorramshahr-4 medium-range ballistic missile during pro-regime rallies at Enghelab Square as the ceasefire deadline loomed- displaying it alongside massive crowds for over 50 consecutive nights. This is not a desperate move. It is calculated strategic messaging.
On the diplomatic front, the US-Iran ceasefire - already described by JD Vance as a "fragile truce" - is under severe strain. Talks in Islamabad lasted 21 hours and ended without agreement, with the Strait of Hormuz and Iran's nuclear programme remaining the two unresolved deal-breakers. Backchannel diplomacy through Pakistan has stalled. The ceasefire has been extended - but both sides are still firing.
And from Washington - a deeply alarming development: a senior US nuclear official is under investigation after an undercover sting allegedly exposed the sharing of sensitive nuclear infrastructure data.
From Hormuz to Tehran to Washington - the global order is on edge.
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