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US strikes on Iran widen to the northwest; Tabriz hit for the first time as the IRGC reports attacks on Kuwait and Jordan
On the evening of Monday, July 20, 2026, the US strikes on Iran widened to the country's northwest. According to Al Jazeera, citing Iranian media, the ninth consecutive night of attacks brought reported explosions in Sirik, Jask and Chabahar, and for the first time in Tabriz; earlier strikes had focused on the southern coast and the Strait of Hormuz. The US military said the strikes targeted military command centres, air-defence systems, coastal-surveillance sites and missile and drone launch pads, and were aimed at degrading Iran's ability to target vessels in the Strait of Hormuz. In response, the Islamic Revolutionary Guard Corps said it had fired a wave of missiles from Lorestan province at US bases and, according to the force, also carried out missile and drone strikes on targets in Kuwait and Jordan. The spread of the conflict to Kuwait, a Persian Gulf oil producer, adds to concern that the crisis could spill further into the regional energy market.
Al Jazeera · Jul 20, 2026
Ninth Consecutive Night of US Strikes on Iran Hits Persian Gulf Ports; US Military Death Toll Rises to 16
The US military began a wave of strikes against Iran for a ninth consecutive night on Sunday evening, 19 July 2026. US Central Command (CENTCOM) said the strikes would continue to degrade Iran's military ability to threaten vessels transiting the Strait of Hormuz. According to reports, the strikes hit several cities, including Persian Gulf ports and coastal towns such as Bandar Mahshahr, Bandar Imam Khomeini and Bushehr, as well as Jask and Sirik along the Strait of Hormuz and Tabriz in the northwest. The targeting of Persian Gulf oil and petrochemical ports adds a new dimension to earlier threats to strike Iran's energy infrastructure. CENTCOM also said the US military death toll had risen to 16, confirming that two service members were killed on 17 July at the Muwaffaq Salti Air Base in Jordan, with one more missing. The continued and widening strikes keep pressure on oil markets and on Iran's economic backdrop elevated.
CNN · Jul 20, 2026
IMF Cuts 2026 Global Growth Forecast to 3% on the Iran War
In its July update to the World Economic Outlook, the International Monetary Fund cut its 2026 global growth forecast to 3%, down from 3.1% in April and its second reduction this year, citing the energy shock from the US-Iran war. The report says energy prices are now about 25% above pre-war levels; the fund assumes an average oil price of about $89 a barrel for 2026 and that the Strait of Hormuz begins reopening from mid-July. Earlier, the World Bank had cut its own 2026 growth forecast to 2.5%, calling it the worst hit to the global economy since the COVID-19 pandemic. Slower global growth can weigh on Iran's economy through oil demand and trade.
Al Jazeera · Jul 19, 2026
Container Freight Rates Hit Highest Since September 2024; War Surcharges on Persian Gulf Routes
The Hormuz crisis has sent container freight rates surging. Drewry's World Container Index reached $4,639 per 40-foot container on July 9, 2026, the highest since September 2024. On routes linked to the Persian Gulf, war-risk and emergency surcharges alone can add several thousand dollars to the cost of each container. According to reports, Asia-to-North-Europe rates have reached about $5,800 and Asia-to-Mediterranean about $7,200 per 40-foot container, roughly $3,000 more than six weeks earlier. Transpacific rates have also risen to about $7,500 (US West Coast) and more than $9,000 (East Coast).
Lloyd's List · Jul 19, 2026
China's economy grew at its slowest pace since late 2022 in the second quarter of 2026 as the Iran war and oil prices weighed on growth
China's gross domestic product grew 4.3 percent year on year in the second quarter of 2026, its slowest quarterly pace since late 2022 and below the government's official target range of 4.5 to 5 percent. Data released in the week ending 15 July showed China's economy expanded 4.7 percent overall in the first half of 2026. According to reports, the Iran-US war and the surge in global oil prices, together with weak domestic demand, were cited as the main drivers of the slowdown. China, the largest buyer of Iranian oil, has cut its crude purchases in recent months in response to higher prices, a shift that bears directly on Iran's oil revenue. The figures matter for Iran's market through the channels of global oil demand and trade with Beijing.
CNN Business · Jul 18, 2026
Iran declares full suspension of its commitments under the Islamabad memorandum, accusing the US of violations
Kazem Gharibabadi, Iran's deputy foreign minister, said on Saturday, 18 July 2026 that Iran had suspended all of its commitments under the Islamabad memorandum of understanding, accusing the United States of violating the agreement. He said the US had violated and suspended all of its own commitments within the framework, and that Iran had likewise suspended its commitments and was no longer implementing them. The memorandum, signed last month under Pakistani mediation, reportedly comprised 14 points, including reopening the Strait of Hormuz, lifting the US naval blockade and beginning a phased de-escalation. The suspension came after seven consecutive nights of US strikes and waves of Iranian missile and drone responses. The unraveling of this diplomatic framework carries direct weight for domestic markets: on the same Saturday, 27 Tir, the free-market dollar closed above 193,000 tomans and Tehran's main stock index ended down more than 2 percent.
ANI News · Jul 18, 2026
US-Iran tension over the Strait of Hormuz eases; a fresh round of talks is set for Saturday in Oman
After the most intense round of US strikes on Iran and Tehran's responses, tension over the Strait of Hormuz began to ease by the evening of Thursday, July 16, and unlike earlier in the week when talks were described as deadlocked, a fresh round of negotiations is now set for Saturday, July 18, in Oman. According to international media, the US side will include Vice President JD Vance, Secretary of State Marco Rubio, special envoy Steve Witkoff and Jared Kushner, while Iran will be represented by Foreign Minister Abbas Araghchi. Washington wants Iran to declare publicly, before any talks on its nuclear program, that the Strait of Hormuz is open and that commercial vessels will not be attacked. Oman had earlier proposed managing traffic through the strait via two separate corridors and without imposing tolls. The secretary of Iran's Supreme National Security Council stressed on Friday, July 17, that Iran would respond to any attack on its infrastructure, including by striking Israel. Shipping through the Strait of Hormuz has fallen to its lowest since June 28, and the currency, gold and oil markets are awaiting the outcome of the Oman talks.
Deccan Chronicle · Jul 17, 2026
Iran foreign ministry spokesman: no plans for talks now, focus is on defense
Iran's foreign ministry spokesman Esmaeil Baghaei said on Wednesday, July 15, 2026, that Tehran "has no plans for negotiations at present and is focused on defense." He added that Iran no longer considers itself bound by the June 17 memorandum of understanding with Washington, citing what he called repeated US violations of its commitments. On the same day, parliament speaker and senior negotiator Mohammad Bagher Ghalibaf struck a somewhat different note, saying Iran must keep defending itself while also using "diplomacy and negotiations to advance and consolidate national interests," though he stressed Iran has no reason to stay committed to a deal from which it gains nothing. The remarks came amid a fifth day of US strikes on Iran and the reinstated naval blockade of its ports. In Tehran's open market that day, the free-market US dollar jumped about 2.2 percent to around 188,000 tomans.
APA · Jul 15, 2026
Iran's spring 1405 non-oil exports reach $11.7 billion, down 14.4% in value from a year earlier
According to Faroud Asgari, deputy economy minister and head of Iran's Customs Administration (IRICA), the value of the country's non-oil exports in the first quarter of the year 1405 (21 March to 21 June 2026) reached about 11.655 billion dollars. The volume stood at 34.476 million tons, a 9.3 percent drop in weight and a 14.4 percent decline in value compared with the same period last year. The average customs value per ton of exported goods was 338 dollars, down 5.6 percent year-on-year. Petrochemical exports over the period totaled 11.133 million tons worth 4.684 billion dollars, a 24.5 percent decline in value. Liquefied propane at 874 million dollars, liquefied butane at 611 million, methanol at 576 million, petroleum bitumen at 574 million, and natural gas at 456 million led the non-oil export basket.
Tehran Times (IRICA) · Jul 13, 2026
In first message, Iran's new leader Mojtaba Khamenei calls revenge for his slain predecessor 'certain'; Trump threatens to strike Iran
Mojtaba Khamenei, the new Supreme Leader of the Islamic Republic of Iran, said on Saturday, July 11, 2026, in his first written message since his father's funeral, that avenging the killing of the previous leader is "the demand of the nation" and that carrying it out is "certain." The message pledged that Iran would "take revenge for the blood of the martyred leader and all the martyrs of these two wars from the killers." The remarks came amid sharply rising tensions between Tehran and Washington. In a message late Friday, US President Donald Trump warned that a thousand missiles are "locked and loaded" aimed at Iran and that he had issued military instructions to "destroy all areas of Iran" if any move were made against him. The exchange followed two nights of mutual strikes last week and coincided with Saturday's talks in Muscat on mechanisms for the safe passage of ships through the Strait of Hormuz. Rising geopolitical tension typically keeps a risk premium in global oil prices and can add pressure on Iran's exchange rate while lifting safe-haven demand for gold in the domestic market.
Investing.com (Reuters) · Jul 12, 2026
Dubai's Q1 GDP Grows 2.4%; IMF Cuts 2026 West Asia Growth Forecast to 0.7%
Dubai's gross domestic product reached AED 232 billion (about $63.2 billion) in the first quarter of 2026, up 2.4 percent year on year, driven mainly by growth in non oil sectors. According to The National, reporting July 8, 2026, the IMF simultaneously cut its 2026 growth forecast for West Asia to 0.7 percent, a 1.2 percentage point downgrade from its April estimate. The IMF attributed the cut to the fallout from the Strait of Hormuz closure on the region's energy exports.
The National · Jul 11, 2026
German Bund Yields Hit One Month High as French Borrowing Costs Reach Highest Since 2009 on Iran Oil Shock
German 10 year Bund yields rose 8 basis points to 3.07% on Wednesday, July 8, 2026, their highest in nearly a month and an eighth consecutive daily rise, the longest such streak since January. French borrowing costs hit their highest level since 2009 on the same day. The rise in European yields coincided with a 5.2% jump in Brent crude to 78.02 dollars a barrel after US President Donald Trump declared an end to the ceasefire with Iran. Bloomberg reported the next day, July 9, that German yields eased slightly as some of the immediate alarm faded. The episode illustrates that, unlike typical geopolitical shocks, European bond markets this time reacted mainly to inflation fears from the Iran linked oil price spike and Strait of Hormuz risk rather than acting as a safe haven.
Bloomberg · Jul 11, 2026
Georgia's Inflation Edges Up to 5.8% in June as TBC Capital Flags Intensifying West Asia Risk to Outlook
Georgia's National Statistics Office (Geostat) reported on July 3, 2026 that annual inflation rose to 5.8% in June, up slightly from 5.7% in May. Annual core inflation stood at 3.5%, with food and non alcoholic beverages, up 5.6%, the largest contributor to the increase. Investment bank TBC Capital said in an update published July 8, 2026 that renewed West Asia escalation following the collapse of the US Iran ceasefire in early July has increased uncertainty around Georgia's inflation outlook and monetary policy path. As a Caucasus transit and financial hub with trade and tourism links to Iran's near neighborhood, Georgia is directly exposed to the Iran crisis through global energy price volatility.
Georgia Today · Jul 11, 2026
Iran Sets Nationwide Rent-Increase Cap at 25 Percent
The heads of Iran's three branches of government set a nationwide cap of 25 percent on rent increases for renewed residential leases, effective from June 22, 2026 (1 Tir 1405), replacing previous province-set caps that had reached as high as 30 percent in some provinces. Under the decision, residential leases expiring before the end of the Iranian year (March 2027) will be renewed for one year with a rent increase capped at 25 percent if the tenant requests renewal, with exceptions such as the owner's personal need for the property or planned renovation.
اکوایران · Jul 11, 2026
Qatari Delegation Travels to Tehran to Bolster Doha's Mediation Role
A delegation from Qatar traveled to Iran to bolster Doha's mediation role between Washington and Tehran, the Associated Press reported on Friday, July 10, 2026 (19 Tir 1405), citing Iran's Tasnim news agency. The visit came as the US president said talks with Iran would continue, even as military tensions between the two countries have escalated again since July 7. Progress in Qatari mediation could influence regional market sentiment and oil prices.
The Associated Press (via U.S. News) · Jul 11, 2026
Turkmenistan-Azerbaijan Joint Economic Commission Meets in Ashgabat
The 9th Turkmenistan-Azerbaijan Intergovernmental Commission on Economic Cooperation met in Ashgabat on Wednesday, July 8, 2026 (17 Tir 1405), with both sides discussing expanded cooperation in trade, energy, transport, logistics and investment. The meeting is part of the Ashgabat Agreement transit network, which links Central Asia through Turkmenistan to Iran's Persian Gulf ports, a corridor whose strategic importance for Iran has grown amid the current war.
News Central Asia · Jul 11, 2026
Overseas Pakistani Remittances Hit Record $41.6 Billion in FY26
Overseas Pakistanis sent a record $41.6 billion home in the fiscal year ended June 30, 2026, according to a report published Thursday, July 9, 2026 (18 Tir 1405), up 9 percent from $38.3 billion the prior fiscal year and surpassing Pakistan's total exports. Saudi Arabia remained the top source at $9.78 billion (up 4.7 percent), with the UAE second at $8.8 billion (up 12.5 percent), figures that show the Persian Gulf labor corridor has held up despite the Iran war.
Dawn.com · Jul 11, 2026
Trump Says Iran Ceasefire "Over" But Talks Continue; Tehran Denies Requesting New Negotiations
US President Donald Trump wrote on Friday, July 10, 2026, that the Islamic Republic of Iran had asked to continue "talks" and that Washington had agreed, while stating explicitly that the ceasefire between the two countries "is over." Hours later, an Iranian foreign ministry spokesman denied the claim, saying Tehran had only agreed to a visit by a Qatari delegation and had not made a formal request to resume negotiations. The exchange comes as tensions between the two countries have escalated again since July 7, following an attack on tankers in the Strait of Hormuz.
Bloomberg · Jul 11, 2026
IMF Warns Iran War Threatens Georgia's 5% 2026 Growth as Iranian Tourist Arrivals Fall 49%
The International Monetary Fund said in its Article IV concluding statement that Georgia's economy remains on track for 5 percent growth in 2026, but warned the Iran war could weigh on that outlook through damage to tourism and energy. First-quarter 2026 data showed Iranian visitor arrivals to Georgia fell 49 percent year on year to 13,757, while revenue from Iranian tourists dropped 64 percent to 10 million dollars. Arrivals from Israel also declined 17.5 percent. Galt & Taggart, the investment arm of the Bank of Georgia, cut its 2026 tourism revenue forecast for the country from 5 billion to 4.9 billion dollars.
Business Media Georgia (BM.ge) · Jul 11, 2026
CNN Satellite Images Show Signs Iran May Be Rebuilding Some Nuclear Facilities
CNN reported on Friday, July 10, 2026, that exclusive satellite imagery obtained by the network, captured by Vantor and analyzed by experts, shows signs of construction activity at a site known as Taleghan 2 within the Parchin military complex, as well as near the Natanz nuclear facility, dated to late June and early July. Experts say Taleghan 2 is a site where explosive material linked to nuclear weapons development may be stored. The report raises questions about a possible violation of the Iran-US memorandum of understanding, known as the Islamabad MOU, under which Tehran committed to maintaining the status quo of its nuclear program during negotiations. The Times of Israel separately reported satellite imagery showing construction near the Fordow nuclear site.
سیانان (CNN) · Jul 10, 2026
Energy Ministry Warns of Record Summer Power Shortfall, Announces Provincial Peak Load Dates
Mostafa Rajabi Mashhadi, deputy energy minister for power and energy affairs, said on July 10, 2026 (19 Tir 1405), according to ecoiran.com, that Iran's power grid faces a shortfall of between 10,000 and 18,000 megawatts during the critical period running from the last ten days of Tir through mid Mordad (roughly late July to early August). The report listed provincial peak load dates: Sistan and Baluchestan on July 8, Kerman on July 12, Isfahan and Hormozgan on July 19, and Tehran on July 20. The ministry asked the public to conserve electricity, especially between 11:00 and 17:00 and between 20:00 and 23:00, from July 11 through August 6. Khabar Online corroborated the warning.
اکوایران · Jul 10, 2026
Armenian PM: TRIPP Corridor Will Expand Trade With Iran, Responds to Tehran's Concern Over US Presence
Armenian Prime Minister Nikol Pashinyan said on Thursday, July 9, that implementation of the US brokered TRIPP corridor (Trump Route for International Peace and Prosperity) will significantly expand trade and economic ties between Armenia and Iran and help establish a rail link between the Persian Gulf and the Black Sea. His remarks came a day after Iran's ambassador to Yerevan voiced concern about a potential US presence near Iran's borders under the project. The Armenian government has assured Tehran that the project's implementation will not create any threat or challenge for Iran stemming from a US presence. TRIPP is a transit corridor through southern Armenia, brokered by the United States as part of the broader Armenia Azerbaijan peace process.
Public Radio of Armenia · Jul 10, 2026
Iran's Foreign Minister Stresses Continued Diplomacy in Calls With Oman, Turkey and Pakistan
Iranian Foreign Minister Abbas Araghchi held separate phone calls on Thursday, July 9 (18 Tir), with Omani Foreign Minister Sayyid Badr bin Hamad Al Busaidi and Turkish Foreign Minister Hakan Fidan, reviewing the latest regional developments, including tensions in the Strait of Hormuz, and stressing the need to keep using diplomatic channels and coordination among regional states to prevent further escalation. In a separate call, Araghchi told Pakistan's army chief, General Asim Munir, that the renewed US strikes on Iran were a flagrant violation of the UN Charter and the Iran-US peace memorandum (the Islamabad Memorandum), warning against further military adventurism. The calls came a day after US President Donald Trump declared at a NATO summit in Ankara that the ceasefire with Iran was "over." Both sides reaffirmed support for continued dialogue and the mediation efforts of Pakistan and Oman.
APA (Azerbaijan Press Agency) · Jul 10, 2026
CENTCOM says US forces struck about 90 Iranian military targets along the coast
US Central Command (CENTCOM) said on Wednesday, July 8 (17 Tir), that its forces had completed a fresh round of strikes against Iran, hitting approximately 90 military targets along the country's coastline. According to the statement, the targets included air defense systems, coastal surveillance assets, missile and drone storage sites, naval capabilities, and military logistics infrastructure. CENTCOM said the operation aimed to degrade Iran's ability to attack commercial vessels and civilian mariners in the Strait of Hormuz. The strikes followed an initial wave on the night of Tuesday, July 7 (16 Tir), that hit about 80 targets, including more than 60 Islamic Revolutionary Guard Corps fast-attack boats.
CNBC · Jul 10, 2026
Next Round of Indirect Iran-US Talks Expected in Islamabad on July 11
Qatari and Pakistani mediators said the next round of indirect Iran-US talks is expected to take place on Saturday, July 11, 2026, in Islamabad, Pakistan. The meeting is scheduled after funeral and burial ceremonies for Ayatollah Khamenei at the Imam Reza shrine concluded on Friday, July 10. The previous round of talks was held last week in Doha, Qatar, under the same Qatari and Pakistani mediation, making what sources described as positive progress on issues related to the Islamabad memorandum of understanding, though the two sides did not reach a final agreement on the Strait of Hormuz or Iran's frozen assets. The talks come as military tensions between Iran and the United States have escalated again since July 7, after President Donald Trump declared the ceasefire over. Because the outcome directly affects Strait of Hormuz risk and Iran's currency and gold markets, the meeting carries economic weight beyond diplomacy.
Al-Monitor · Jul 10, 2026
Khamenei Laid to Rest at Imam Reza Shrine; Successor Son Mojtaba Absent From Burial
Ayatollah Ali Khamenei, Iran's second supreme leader, who was killed in US-Israeli strikes on February 28, 2026, was buried in the early hours of Friday, July 10, 2026, at the Imam Reza shrine in Mashhad. His state funeral, which began July 3 with processions through Tehran, Qom, and the Iraqi cities of Najaf and Karbala, concluded after six days, with international media reporting millions of attendees across the ceremonies. According to media reports, his son and successor Mojtaba Khamenei, chosen by the Assembly of Experts as Iran's third supreme leader on March 9, 2026, was absent from his father's burial. Reports indicate Mojtaba was himself injured in the same strike that killed his father. His absence from the ceremony has added to uncertainty over the stability of Iran's leadership amid renewed military escalation with the United States.
Al Jazeera · Jul 10, 2026
Second phase of July Kalabarg food-subsidy card activates July 11; credit unchanged at 1 million tomans
Iran's Subsidy Targeting Organization announced that the second phase of the July 1405 (2026) electronic food-subsidy card (Kalabarg) activates on Saturday, July 11, for household heads whose national ID numbers end in 3, 4, 5, or 6. The first phase began on July 6 for ID numbers ending in 0, 1, and 2, and the third phase is set for July 16, covering IDs ending in 7, 8, and 9. The credit remains unchanged at 1,000,000 tomans per person. Despite earlier speculation that higher-income deciles would be dropped, the government confirmed no eligibility decile was removed from the July round. Kalabarg is separate from the monthly cash subsidy and is redeemable for eligible food items at participating stores.
اکوایران · Jul 10, 2026
Iran Announces July Cash Subsidy Payment Dates; Child Subsidy Tripled for Low-Income Families
Per Eghtesad Online (July 10, 2026), cash subsidies for Iran's bottom three income deciles will be paid on July 16 (25 Tir) at 400,000 tomans per person, while deciles four through nine will receive 300,000 tomans per person on July 22 (31 Tir). Separately, the Targeted Subsidies Organization said a decision to triple the child cash subsidy for families with three or more children in the bottom four income deciles has taken effect, starting with the first decile and expanding to further deciles in coming months. The moves come as Iran's Statistics Center has reported 88.6% year on year inflation, squeezing household purchasing power.
اقتصادآنلاین · Jul 10, 2026
Kazakhstan and Iran Sign 27-Year Deal to Build Logistics Terminal at Shahid Rajaee Port
Iran's Ports and Maritime Organization and Kazakhstan signed a 27-year Build-Operate-Transfer agreement (2 years construction, 25 years operation) on July 7, 1405 (June 28, 2026) to build a dedicated Kazakh logistics terminal at Shahid Rajaee Port in Bandar Abbas, per The Astana Times. Iran is allocating a 15-hectare plot, with the terminal's projected capacity at 1.5 million tons of cargo per year. Kazakh officials say the $25 million investment uses no state funds, and the project aims to plug Kazakhstan into the International North-South Transport Corridor. Current Iran-Kazakhstan bilateral trade is estimated at around $400 million, which Kazakh officials say the project could double or triple.
The Astana Times · Jul 10, 2026
Iran's Health Ministry: At Least 14 Killed, 78 Wounded in Two Days of US Strikes on Five Provinces
Iran's Health Ministry said Thursday, July 9, 2026, that two days of US airstrikes on July 8-9 targeting five Iranian provinces had killed at least 14 people and wounded 78, with 47 of the wounded still hospitalized. US Central Command said the strikes were meant to degrade Iran's ability to threaten freedom of navigation in the Strait of Hormuz. It is the first comprehensive official casualty count from the Health Ministry since strikes resumed following the ceasefire's collapse, though other Iranian state bodies have cited slightly different figures.
Associated Press (via San Mateo Daily Journal) · Jul 10, 2026
White House Says Technical Talks With Iran Continue Despite Trump Declaring Ceasefire Over
A US official told CNBC on Friday, July 10, 2026, that Washington will continue "technical talks" with Iran and remains committed to a diplomatic solution, despite days of exchanged strikes between the two countries. The comment came a day after President Trump, asked about the ceasefire's status at the NATO summit in Ankara, said "I think it's over" and described Iran's attacks on commercial vessels as "acts of terrorism." The official said Trump's position was clear, but that technical discussions between the two sides are ongoing. The 60 day ceasefire had been signed on June 17, 2026.
CNBC · Jul 10, 2026
Iran Strikes US-Linked Bases in Bahrain, Kuwait, Qatar and Jordan as Ceasefire Nears Total Collapse
Iran's military and Revolutionary Guards widened their retaliation on Thursday, July 9, 2026, hours after a second round of US strikes hit roughly 90 military targets across Iran, extending attacks beyond Bahrain and Kuwait to also strike US linked sites in Qatar and Jordan. According to The National, Iranian forces used drones and missiles to target a Patriot air defense battery in Kuwait, a satellite and early warning site in Qatar, and fuel depots used by US forces in Bahrain. Air raid sirens sounded in Bahrain and Kuwait. Kuwait's Defence Ministry said it intercepted three ballistic missiles, one cruise missile and 10 drones. Iran's Foreign Ministry called the renewed US strikes a "gross violation" of the 60 day ceasefire signed on June 17, 2026. The widening front raises fresh risk for regional Gulf markets beyond Iran's borders.
The National · Jul 10, 2026
Iran's Year-on-Year Inflation Hits 88.6% by Statistics Center's Count, Diverging From Central Bank Figure
Iran's Statistical Center (SCI), in a report published on June 27, 2026, put the year-on-year inflation rate for the Iranian month ending in mid-June at 88.6 percent and the 12-month average inflation rate at 62 percent, up 4.3 percentage points from the prior month. The same report showed year-on-year inflation in rural areas topping 108 percent, with bread and grain prices up 138.8 percent, dairy and eggs up 151.9 percent, and red meat and poultry up 178.2 percent. Meanwhile, the Central Bank of Iran (CBI) reported year-on-year inflation of 83.1 percent and average annual inflation of 57.7 percent for the same period, highlighting a methodological gap between the country's two official statistical bodies.
Business Recorder · Jul 10, 2026
Trump Declares Iran Ceasefire 'Over' at NATO Summit in Ankara
US President Donald Trump said on Wednesday, July 8, 2026, on the sidelines of the NATO leaders' summit in Ankara, that the ceasefire between the United States and Iran is "over." According to NPR, Trump said negotiating with Iran was a waste of time and called the other side liars, though he noted that his special envoy Steve Witkoff and his son-in-law Jared Kushner still want to continue talks. The remarks came after a fresh exchange of strikes between the two countries on July 6 and 7 and immediately moved markets: CNBC reported that US stocks fell in early trading and Brent crude jumped about 5.4 percent to settle near $78 a barrel on concerns of renewed disruption in the Strait of Hormuz.
NPR · Jul 10, 2026
IRGC Strikes US Military Bases in Kuwait and Bahrain
Iran's Islamic Revolutionary Guard Corps (IRGC) said on Wednesday, July 8, 2026, that it had struck US military forces stationed in Kuwait and Bahrain with missiles and drones. According to NPR and Al Jazeera, the strikes were a response to a new round of US airstrikes on Iran's coastline the same day, after the ceasefire between the two countries collapsed. Air raid sirens sounded in both Kuwait and Bahrain, with authorities urging residents to take shelter. The IRGC warned it would expand the scope of its retaliation to other US bases in the region if Washington strikes again. The escalation followed the July 6-7 attacks on three tankers in the Strait of Hormuz.
NPR · Jul 10, 2026
Ceasefire Collapses as US Strikes Iran a Second Day, Tehran Retaliates Against Persian Gulf Bases
A ceasefire built around a June 2026 US-Iran memorandum to reopen the Strait of Hormuz unraveled after three commercial vessels were attacked in the strait on July 7, 2026 (16 Tir). According to Al Jazeera, on July 9 (18 Tir) US Central Command struck close to 90 military targets in Iran for a second straight night, after hitting nearly 80 targets, including more than 60 Revolutionary Guard vessels, the night before. In response, Iran's army and Revolutionary Guards fired drones and missiles at bases linked to the United States in Kuwait, Bahrain and Qatar, and Jordan said it intercepted eight missiles fired from Iran. Hossein Kermanpour, spokesman for Iran's Health Ministry public relations office, said US strikes on five Iranian provinces on July 8 and 9 have killed 14 people and wounded 78, with 47 of the wounded still hospitalized. The escalation has been a main driver behind this week's simultaneous jump in gold, dollar and oil prices.
Al Jazeera · Jul 10, 2026