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Rising Tensions Leave Ships Stranded in Key Oil Passage

Traffic through the Strait of Hormuz ⁠was closed for a fourth day on Tuesday, choking off a key artery accounting for about 20% of global oil and gas supply. Greece’s Minister of Maritime Affairs and Insular Policy, Vassilis Kikilias, has raised urgent concerns over an increasingly alarming situation in the Strait of Hormuz, where dozens of vessels remain stranded amid escalating conflict involving Iran. He emphasized the need to safeguard global shipping and protect seafarers as the strategic waterway—responsible for roughly 20% of global oil and gas flows—remains closed for a fourth consecutive day.  The closure has disrupted international trade routes and heightened anxiety across the maritime sector. Greek authorities have urged shipowners to exercise maximum caution and avoid high‑risk zones in the wider Persian Gulf region as tensions continue to rise. The prolonged shutdown underscores the vulnerability of global supply chains to geopolitical instability and highlights th...
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NATO Commits to Historic Defence Spending Hike Amid Trump’s Reassurances

At the 2025 NATO Summit in The Hague, member nations agreed to a sweeping increase in defence spending, endorsing a new target of 5% of GDP—a dramatic leap from the previous 2% benchmark. The move comes amid growing security concerns in Europe and persistent pressure from U.S. President Donald Trump, who has long criticized allies for underinvesting in collective defence.

Trump struck a notably reassuring tone at the summit, affirming the United States’ commitment to NATO’s mutual defence clause, Article 5. “We’re with them all the way,” he said, addressing concerns sparked by his earlier remarks suggesting there were “numerous definitions” of the clause.

The new spending framework divides the 5% target into 3.5% for core defence—such as troops and weapons—and 1.5% for broader security measures like cyber defence and infrastructure upgrades. While all NATO members backed the statement, Spain voiced reservations about meeting the full target, prompting a diplomatic compromise to maintain unity.

NATO Secretary General Mark Rutte emphasized the urgency of the shift, citing threats from Russia and global instability. “There is absolute conviction… that, given this threat from the Russians, given the international security situation, there is no alternative,” he stated.

The summit also saw Ukrainian President Volodymyr Zelenskyy meet separately with Trump, underscoring NATO’s continued support for Ukraine amid its ongoing conflict with Russia.

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