The UK's Royal Navy will work with the US to assure the security of merchant vessels in the Strait of Hormuz, the Ministry of Defence said.

"I think Iran will look at it as a successful cost imposition to the adversary," "They're making all of the adversaries now rally forces, move them into the theater, put them at risk in the theater and pay for that presence at a very hefty price."

"We are committed to keeping the Strait of Hormuz open and secure," Pompeo said.

European signatories to the Iran nuclear deal do not see Tehran's recent moves reducing compliance as significant and do not intend "for now" to trigger the agreement's dispute mechanism

Iran said on Sunday it will shortly boost its uranium enrichment above a cap set by a landmark 2015 nuclear deal, prompting a warning ‘to be careful’ from U.S. President Donald Trump, who has pressured Tehran to renegotiate the pact.

British Royal Marines seized a giant Iranian oil tanker in Gibraltar on Thursday for trying to take oil to Syria in violation of EU sanctions, a dramatic step that drew Tehran’s fury and could escalate its confrontation with the West.

Once again, Iran has been exempted from the OPEC output cut deal, Zangeneh told the reporters.

the United States had never targeted an Iranian head of state before and that was a sign Trump was getting personal.

Iran and Russia already have a deal whereby Iran sells 100,000 b/d of crude oil to Russia and receives 50% of the value in cash and 50% in equipment.

The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The Strait of Hormuz is the world's most important oil chokepoint because of the large volumes of oil that flow through the strait. In 2018, its daily oil flow averaged 21 million barrels per day (b/d), or the equivalent of about 21% of global petroleum liquids consumption.

It is essential that Iran fully implements its nuclear-related commitments under the Joint Comprehensive Plan of Action (JCPOA), IAEA Director General Yukiya Amano told the Agency’s Board of Governors

During a joint news conference with US President Donald Trump today, British Prime Minister Theresa May stressed the importance of the USA-UK special relationship in dealing with Iran, but added that "we [the UK] stand by the nuclear deal".

The State Oil Company of Azerbaijan Republic (SOCAR) is due to purchase crude oil from Iraq next month to process at the SOCAR Turkey Aegean Refinery (STAR) inaugurated in October 2018 in Izmir.

"We are not getting any oil from Iran now," said the Turkey's official, who spoke on condition of anonymity. "We were one of the eight countries getting an exception from those sanctions, and now we are ready to abide by them," he said.

Iran has sent abroad between 250,000 bpd and 500,000 bpd of oil so far in May, according to two industry sources who track the flows. Data from Refinitiv Eikon put crude shipments at about 250,000 bpd and exports of crude and condensate, a light oil, at about 400,000 bpd.