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Chapter 1: What is the current situation in the Iran war?
Live from NPR News, I'm Giles Snyder. The war in Iran is now in its third week. Both sides are trading strikes with Iran, targeting U.S. Embassy in Baghdad today. President Trump is warning that oil infrastructure on a key Iranian island would be next if Iran continues to interfere with shipping through the state of Hormuz. He says U.S.
Chapter 2: How are oil prices affected by the conflict in Iran?
strikes yesterday destroyed military targets on the island. NPR's Arzu Razvani reports.
Khark Island sits 15 miles off Iran's coast and is critical to Iran's oil infrastructure and the country's economy. Roughly 90 percent of Iran's export crude oil passes through the island. In a Truth Social post on Friday, President Trump said that while the U.S. had hit military targets, he had, quote, chosen not to wipe out the oil infrastructure.
Trump added that he'd reconsider that decision if Iran continues interfering with ships passing through the Strait of Hormuz. In response, Iran's military has threatened to turn oil and energy firms in the region that work with the U.S. into, quote, a pile of ashes. Oil prices have jumped more than 40 percent since the start of the war.
Arizu Razvani, NPR News, Erbil, in the Kurdistan region of Iraq.
India says two of its tankers have crossed the Strait of Hormuz after being granted permission by Iran. Indian officials say the vessels were carrying liquefied petroleum gas and were headed to Indian ports. The crossing to the critical shipping route followed intense high-level talks between Delhi and Tehran. The BBC's Ian McMilliam has details.
Iran has all but closed the Strait of Hormuz by threatening to attack ships passing through it. The narrow waterway between Iran and the Arabian Peninsula links the oil-producing Gulf to global shipping routes. But Tehran has now permitted two Indian tankers safely through. Iran's ambassador to India said the two countries were friends with shared interests.
Iran, beset by years of international sanctions because of its nuclear programme, relies heavily on oil exports to China in particular, but also to India.
The BBC's Ian McWilliam reporting there. The White House is investigating the possibility of imposing tariffs on goods from 60 economies. This is the second set of investigations the administration announced this week under a statute meant to combat unfair trading practices. Here's NPR's Danielle Kurtzleben.
The 60 economies will be investigated specifically related to forced labor. Not necessarily the practice itself, but to what degree those foreign governments import goods produced with forced labor. Major trading partners including China, the EU, and Mexico are on the investigation list.
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