Samuel Wendel

US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the Strait of Hormuz, pointing to the recovery in Gulf oil exports as evidence that Tehran’s grip on the vital waterway is weakening. The situation in the strategic strait is more complicated in reality. Oil is again flowing near prewar levels, yet tankers continue coming under attack as markets remain on edge amid concerns Iran could escalate strikes on Gulf exporters.

The ports of Beirut and Tripoli signed a joint declaration in New Delhi on Tuesday to launch the IMEC Ports Club, a platform designed to strengthen cooperation on trade, logistics, connectivity, and supply chains among ports linked to the India-Middle East-Europe Economic Corridor. The declaration establishes the IMEC Ports Club as an open platform for dialogue and cooperation among ports, without creating a new institutional structure, according to state news agency NNA.

Syria and the United Arab Emirates are moving ahead with a closely watched private-sector investment project in the country’s postwar recovery, with Abu Dhabi-based developer Eagle Hills signing a framework agreement on Monday for major housing and tourism projects in Damascus and Latakia.