US Military Strikes Iran After Tanker Attacks in Strait of Hormuz; Ceasefire at Risk

Iran rial hits record low at 2.02 million/USD as US prepares fresh sanctions and Strait of Hormuz blockade

Iran's rial plunged to a record low of 2.02 million per USD as the US announced new sanctions. The war with Israel and US naval blockade have devastated Iran's economy, while Iran's control of the Strait of Hormuz threatens global oil supply. This is a critical geopolitical flashpoint with implications for India's energy security and global trade.

US Strikes IRGC Targets in Strait of Hormuz; 5 Killed in Wedding, Oil Prices Cross $95/Barrel

The US and Iran have exchanged significant military strikes, ending a month-long lull. US Central Command targeted IRGC air-defence and maritime sites in response to attempted attacks on commercial shipping in the Strait of Hormuz. Iran retaliated with missiles and drones, hitting a wedding venue in southern Iran, killing five and wounding dozens. The Strait of Hormuz remains largely disrupted, pushing Brent crude above $95/barrel and raising global energy security concerns.

Houthi Capture of Perim Island Threatens Bab el-Mandeb Strait and Saudi Oil Exports via Red Sea

Houthi forces, backed by Iran, have captured Perim Island in the Bab el-Mandeb Strait, a critical chokepoint for global oil shipments, especially after the Strait of Hormuz disruption. This move threatens Saudi Arabia's alternative Red Sea export route and could spike oil prices. Saudi airstrikes have retaliated, escalating the Yemen conflict.

US-Denmark-Greenland Deal: US Gets Permanent Military Rights, Rivals Excluded from Greenland

The US, Denmark, and Greenland have signed a deal granting the US permanent military access and security control over Greenland, while barring rival countries from establishing bases. This falls short of Trump's earlier ambition to buy the island, but significantly expands US strategic footprint in the Arctic region.

US-Denmark-Greenland Pact: Sensitive Investment Veto, Permanent Military Access

The US, Denmark, and Greenland have signed an agreement giving the US permanent military access and veto power over sensitive investments in Greenland, effectively addressing Trump's earlier annexation threats. This pact, which has no expiry date, is a strategic shift in Arctic security dynamics, with implications for NATO, Russia, and China. For exams, this is a high-yield topic on recent international security developments and the geopolitics of the Arctic.

U.S. Establishes Two New Military Bases in Greenland Under 2026 Security Deal to Counter Russia, China

The U.S., Denmark, and Greenland signed a landmark security deal on September 22, 2026, at the UN General Assembly. The agreement allows the U.S. to establish two new military bases in Greenland (Narsarsuaq and Mestersvig), expand its Arctic presence, and counter growing Russian and Chinese influence in the region. While respecting Danish sovereignty and Greenland's self-determination, the deal grants the U.S. indefinite access to military facilities and influence over Greenland's rare earth resources.

US Imposes Sanctions on 60 Iran-Linked Entities; Iran Threatens Strait of Hormuz Oil Chokepoint

The US has widened economic sanctions on Iran, targeting 60 entities and vessels, while Tehran retaliates by threatening military action and blacklisting 45 tankers in the Strait of Hormuz. For India, which relies heavily on Persian Gulf oil, this escalation could raise energy costs and test diplomatic balancing. The situation directly impacts global oil supply, with the Strait carrying ~20% of world oil use.

Houthis Seize Perim Island at Bab el-Mandeb Strait; Oil Prices Surge Above $100

Houthi capture of Perim Island threatens the Bab el-Mandeb Strait, a critical chokepoint for global oil and trade, especially after the Strait of Hormuz was effectively closed. This could spike oil prices above $100, impact India's energy security, and escalate the Iran-US proxy war via Yemen.