The US-Canada trade war intensified over the weekend after the Trump administration warned Ottawa that retaliating against Washington’s new tariffs could bring “devastating” economic consequences. Canada, however, has refused to back down, with Prime Minister Mark Carney announcing counter-tariffs after trade negotiations collapsed. Trump Canada tariffs

Iran has announced a major gas discovery in the southern part of Fars Province, with Oil Minister Mohsen Paknejad estimating the field contains about 7.5 trillion cubic feet of gas. The discovery could strengthen Iran’s gas reserves as the country faces economic pressure and challenges across its energy sector. Iran gas discovery reaches 7.5 trillion cubic feet Paknejad announced the discovery on Sunday, saying the newly identified field holds an estimated 7.5 trillion cubic feet, or roughly 212 billion cubic metres, of natural gas. Of that total, approximately 5.7 trillion cubic feet is considered recoverable, according to figures provided by the oil minister. Recoverable reserves refer to the portion of gas that authorities estimate can realistically be extracted under technical and economic conditions. Paknejad said the recoverable volume could provide an amount of gas comparable to the production of one phase of the giant South Pars field for about 15 years. The comparison highlights the potential scale of the new resource, although future output will depend on development, infrastructure and production conditions. Sweet gas could lower development costs The Iranian oil minister described the resource as “sweet gas,” a term generally used for natural gas containing relatively low levels of hydrogen sulfide and other sulfur compounds. That characteristic could offer an economic advantage because sweet gas typically requires less processing than sour gas before entering commercial supply systems. Paknejad said this could help reduce both development and operating costs at the field. The discovery also includes gas condensates, according to the minister. These liquid hydrocarbons can have significant commercial value alongside natural gas production. Paknejad said the condensate resources could potentially generate tens of billions of dollars in additional value. The actual economic return, however, will depend on factors including investment, production rates, infrastructure, energy prices and Iran’s access to international markets. New reserves strengthen Iran energy sector The discovery comes at an important time for Iran’s energy industry. Tehran has been working to maintain and repair energy infrastructure while dealing with sanctions and broader economic pressure. Iran already possesses some of the world’s largest natural gas reserves, and South Pars remains central to the country’s gas production. Adding another substantial resource could improve long-term supply options, but discovering gas does not automatically translate into immediate production. A field must undergo appraisal and development before commercial extraction can begin. That process can require drilling additional wells, building processing facilities and connecting production sites to pipelines and other infrastructure. Iran gas reserves gain new strategic resource Paknejad said the discovery adds a significant resource to Iran’s national hydrocarbon reserves. If subsequent assessments confirm the announced estimates, the Fars gas field could become an important addition to the country’s long-term energy portfolio. The timing also gives the announcement wider economic significance as Tehran navigates sanctions and international tensions that can complicate financing, technology access and energy exports. For Iran, the value of the discovery will ultimately depend not only on the volume underground but also on how quickly and efficiently it can bring the recoverable gas and condensates into production. The government has not yet provided a detailed timetable for development or commercial output from the newly announced field.

Iran has portrayed Washington’s intensified economic campaign against Tehran as evidence that the United States failed to achieve its objectives through military pressure. An Islamic Revolutionary Guard Corps spokesperson said Iran was prepared for further US actions and would seek to limit the impact of economic pressure while expanding ties with other countries.

Iran has sharpened its defence rhetoric as pressure from Washington intensifies, with Islamic Revolutionary Guard Corps chief Ahmad Vahidi saying the country has built a “solid defensive shield” against external threats. His remarks come as President Donald Trump expands economic pressure on Tehran. Vahidi plan In a message marking National Defence Industry Day, Vahidi said Iran was confron

India Poland ties are gaining momentum as Warsaw backs New Delhi’s fight against terrorism while acknowledging India’s historic relationship with Russia. Defence cooperation, technology, trade and the India-EU FTA are emerging as key areas in the expanding strategic partnership. Poland terror support strengthens India ties Poland has vo

President Donald Trump has renewed his US Hormuz control claim, saying Washington has “complete control” of the Strait of Hormuz as more oil tankers move through the strategic waterway. Shipping remains well below normal levels, however, while Iran continues to dispute American claims of control. Trump Hormuz claim Trump told reporters on Wednesday that a large number of vessels had recentl

Oil prices surged on Monday as fading hopes for a US-Iran settlement renewed fears of prolonged supply disruptions in the Strait of Hormuz. Brent crude closed above $90 a barrel, while WTI oil also climbed sharply as traders reacted to stalled diplomacy and Iran's warning of possible military escalation. Brent crude rises as Iran ceasefire hopes fade Brent crude futures settled $2.22 higher at

President Donald Trump says Iran wants an agreement with the United States, but the Trump Iran deal remains out of reach because Tehran is not prepared to accept the terms Washington considers necessary. His comments come as Iran nuclear talks remain stalled and tensions around the Strait of Hormuz continue. Iran nuclear talks remain stalled Speaking to reporters in the Oval Office on Monday, T

USS Abraham Lincoln mental health concerns are drawing scrutiny after its unusually long deployment, prompting CENTCOM commander Adm. Brad Cooper to defend the crew's resilience. Cooper said the carrier has among the Navy's lowest number of reported mental health cases while acknowledging the strain of prolonged service at sea. CENTCOM response addresses menta

Former Iranian president Mohammad Khatami has urged a more measured diplomatic approach as the Iran war continues to strain daily life, governance and the economy. His remarks add to a widening Iran war debate between hardliners seeking prolonged resistance and officials who see negotiations as part of an eventual exit. Khatami Iran diplomacy call focuses on cost of war Khatami warned that Iran

US Vice President JD Vance says Vance Iran war goals now place affordable oil and gasoline for Americans at the top of Washington’s priorities, followed by preventing Iran from acquiring a nuclear weapon. His remarks also put renewed focus on the Strait of Hormuz and its impact on energy markets. Oil price goal moves to top of Vance’s priorities Speaking in a Fox News interview on August 13

Iran has called for environmental protection to become part of any future Iran Strait of Hormuz arrangement after reporting oil pollution near Qeshm Island. Tehran says commercial shipping, energy consumers and other parties benefiting from the strategic waterway should share responsibility for environmental damage. Qeshm oil spill raises environmental concer

A senior adviser to Iran's Islamic Revolutionary Guard Corps has suggested Tehran could prolong the Iran-US war until President Donald Trump leaves office, framing a lengthy conflict as a strategy to impose costs on Washington and strengthen Iranian deterrence. Mohammad Reza Naqdi made the remarks during an interview with PBS. IRGC adviser outlines war attriti

A reported Trump Air Force One Iran threat has drawn fresh scrutiny after US intelligence reportedly detected a credible risk to the president's aircraft while he was leaving Ankara following the NATO summit. Donald Trump has since confirmed that the Secret Service and military ordered him onto another aircraft because of a threat. Ankara threat triggered extraordinary security response The security operation unfolded on July 8 as Trump

North Korea fired a ballistic missile from its eastern Wonsan area early Wednesday, sending it more than 700 kilometres toward waters off the Korean Peninsula just days before major US-South Korea military exercises. The launch has renewed regional tensions, with Seoul and Tokyo condemning the test while Washington said it posed no immediate threat to US personnel or allies.

Iran military leadership reshuffle has formally installed six senior commanders across the Armed Forces, Islamic Revolutionary Guard Corps and Basij. Supreme Leader Mojtaba Khamenei's appointments place Ali Abdollahi at the top of the military command while confirming Ahmad Vahidi as commander-in-chief of the IRGC. Iran commanders appointed after wartime loss

The Pakistan Saudi Turkiye defence pact is facing scrutiny only days after its signing in Makkah. A Houthi strike on a Saudi Aramco facility has raised an immediate question: what does the agreement's collective-defence commitment require when one member comes under attack? The answer is more complicated than simply expecting Pakistan or Turkiye to enter a war.

China Taiwan military activity continued as Taiwan detected one PLA aircraft sortie, nine PLAN vessels and 11 official ships around the island. The aircraft entered Taiwan’s southwestern ADIZ as Taipei continued monitoring growing Chinese air and maritime operations. China Military Activity Around Taiwan Continues Taiwan’s Ministry of National Defence said that it detected one sortie of a C

A Belgorod drone attack killed six people and injured 25 as Russia and Ukraine exchanged another wave of deadly strikes. Residential areas were damaged in Belgorod and Kharkiv, while attacks around Odesa highlighted the growing focus on ports, energy and logistics. Belgorod Drone Attack Kills Six Civilians Six people were killed and 25 others injured in an overnight Ukrainian drone attack on th

Trump’s Iran economic pressure strategy is currently taking priority over renewed major military action as Washington watches Tehran’s worsening economy. Indirect Iran talks and a possible Strait of Hormuz arrangement continue, but major disagreements remain unresolved. Trump Iran Economic Pressure Strategy Takes Priority US President Donald Trump has signaled that Washington is temporarily