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News & Articles By Garrison Vance
07/16/2026
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By Garrison Vance
Gulf States Signal Openness to Strait of Hormuz Fees, Reject Iranian Control
Several Arab Gulf states have privately indicated to U.S. and European officials that they are not opposed to paying a fee for transiting the Strait of Hormuz, but they reject any arrangement that gives Iran control over the waterway, according to multiple U.S. and regional officials familiar with the discussions. The distinction between accepting a […]
07/13/2026
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By Garrison Vance
Ukraine Unlikely to Produce Patriot Missiles Despite Trump’s License Promise, Sources Say
Ukraine is unlikely to start producing its own Patriot air defense missiles despite a promise by U.S. President Donald Trump to grant a production license, according to sources familiar with the matter cited by Reuters [1]. The new interceptors will likely be manufactured in Germany or another European country until the conflict with Russia ends, […]
07/13/2026
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By Garrison Vance
Russia Bans Diesel Exports Following Ukrainian Strikes on Refineries
Russia has imposed a ban on all diesel exports, effective immediately, according to Deputy Prime Minister Alexander Novak. The decision, announced at a government meeting with President Vladimir Putin, closes a loophole that had previously allowed self-producing oil companies to export fuel. “Today we introduced ban on exports of diesel,” Novak said, according to state […]
07/12/2026
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By Garrison Vance
IMF Cuts Global Growth Forecast to 3% on Iran War Impact
IMF Downgrades 2026 Global Growth Outlook The International Monetary Fund has reduced its 2026 global growth forecast to 3%, down from 3.5% in 2025, according to the fund’s July 8 World Economic Outlook update. [1] confirmed that the IMF would decide on its growth scenarios in that update. The IMF warned that the ongoing conflict […]
07/12/2026
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By Garrison Vance
Germany to Impose Energy Levies to Fund Emergency Gas Reserve
The German government confirmed plans to build a strategic gas reserve equivalent to 10% of the country’s storage capacity, according to the Federal Ministry of Economic Affairs. The reserve will be filled over 2027 and 2028, with establishment costs of €1.5 billion ($1.7 billion) and annual maintenance of up to €310 million ($353 million), Bloomberg reported. […]
07/11/2026
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By Garrison Vance
Turkey and Iraq Extend Key Pipeline Agreement as Export Route Remains Critical
Turkey and Iraq Extend Key Pipeline Agreement Turkey and Iraq are expected to sign a 12-month extension of the agreement governing the Iraq-Turkey crude oil pipeline within days, according to Turkish Energy Minister Alparslan Bayraktar. The extension is intended to prevent the expiration of the transit agreement on July 27 and keep crude flowing to […]
07/10/2026
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By Garrison Vance
U.S.-Iran Strait of Hormuz Clash Threatens Fragile Maritime Deal
Strait of Hormuz Clash Erupts Again After MOU Signing The United States struck 80 targets in Iran with precision munitions after Iranian forces fired on several commercial ships transiting the Strait of Hormuz without prior coordination with Tehran, according to a report by Trita Parsi published by Antiwar.com. The attack on Tuesday, July 7, 2026, […]
07/09/2026
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By Garrison Vance
India Considers Resuming Iranian Crude Purchases if U.S. Extends Sanctions Waiver
Indian state-owned refiners are weighing a return to purchasing Iranian crude oil if the United States extends a temporary sanctions waiver beyond its current August 21, 2026 expiration date, according to anonymous sources familiar with the matter. The waiver, issued as part of a 14-point memorandum of understanding between the U.S. and Iran in mid-June […]
07/09/2026
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By Garrison Vance
Trump Declares Iran Truce “Over” After IRGC Retaliates Against U.S. Airstrikes
President Donald Trump declared the tentative ceasefire with Iran “over” during a press conference at the North Atlantic Treaty Organization (NATO) summit in Ankara on Wednesday, July 8. His announcement came hours after the Islamic Revolutionary Guard Corps (IRGC) retaliated against U.S. airstrikes by striking targets in the Persian Gulf region. Oil prices surged more than […]
07/08/2026
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By Garrison Vance
Trump Warns NATO Allies of Consequences Over Spending and Immigration
President Donald Trump warned NATO allies during a press conference in Ankara, Turkey, on July 7 that failure to address immigration and energy policies could lead to the dissolution of the European continent. Speaking alongside Turkish President Recep Tayyip Erdogan at the opening of the two-day NATO summit, Trump said, “If they’re not careful with […]
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