Iran has officially launched a new mechanism for governing maritime traffic through the strategic Strait of Hormuz, Press TV has learned.

Under the newly implemented system, all vessels intending to transit the Strait will receive an email from the official address info@PGSA.ir outlining the rules and regulations for passage.

Ships are required to adjust their operations according to this framework and obtain a transit permit before crossing the Strait of Hormuz, one of the world’s most critical oil shipping chokepoints. (Press TV – Continue Reading)

A new U.S.-backed proposal to build a network of overland energy pipelines bypassing the Strait of Hormuz is gaining attention as tensions in the region expose a critical vulnerability in the global energy system.

A policy memo reviewed by Fox News Digital outlines the concept, known as "ARAM Express," a proposed consortium between the United States and Gulf partners to develop a multidirectional overland network for oil, gas and petrochemicals, originating with Richard Goldberg of the Foundation for Defense of Democracies.

The plan envisions pipelines extending westward to the Red Sea and Mediterranean, as well as southern routes toward the Arabian Sea, creating multiple export pathways that would reduce reliance on the strait, through which roughly one-third of the world’s seaborne oil currently flows. (Fox News – Continue Reading)

Japan can conduct only two more sessions of three-day interventions by November if it wants to maintain its status of having a freely floating exchange rate, based on International Monetary Fund guidelines.

A Japan Finance Ministry official cited an IMF rule on Monday noting that three days of intervention count as a single market operation. The comments came after the yen surged last Thursday following reported intervention by the authorities, and also saw a number of intraday rallies on the following days. (Bloomberg – Continue Reading)

eBay’s board will meet this week to review an unsolicited $56 billion bid from GameStop’s Ryan Cohen, according to people familiar with the matter. The billionaire didn’t help his case Monday, when he squandered what goodwill he had with the Street in a disastrous CNBC interview, playing to his base rather than the investors he now needs.

Cohen’s problem is that he’s made a name for himself as a friend of retail investors by showing contempt for the legacy financial press and big institutional investors. But those investors are crucial if he is serious about taking over eBay. (That’s an open question; Cohen didn’t fully commit to staying around the hoop — “There’s ways to do something before next year,” he said of a potential proxy fight — and has already lost one of his biggest boosters.) (Semafor – Continue Reading)