Iran on Monday faces a deadline by President Donald Trump to open up the crucial Strait of Hormuz or face a major US assault on power plants

Iranian media reports published on Sunday quoted Iran's representative to the UN maritime agency as saying

The ultimatum, made just a day after the US leader said he was considering "winding down" military operations after three weeks of war

Leading European nations, Japan and Canada issued a joint statement on Thursday saying they were ready to join appropriate efforts to ensure safe passage through the Strait of Hormuz and would take steps to stabilise energy markets

A war thousands of kilometres away suddenly shows up in the prices of groceries, the cost of running a factory, government subsidies or import bills, and the anxious arithmetic of a family budget as the people navigate the long lines outside refuelling stations.

Trump has rarely missed an opportunity in recent months to criticize America's partners.

Trump confirmed he made "demands" to a group of around seven countries to "come in and protect their own territory," referring to the strategic waterway.

US President Donald Trump yesterday urged other nations to help secure a vital shipping lane choked off by the war with Iran, which showed no signs of slowing as strikes hit the US embassy in Baghdad and a major Emirati energy facility.

Message read by a newscaster on state television

Iran vowed yesterday that not a single litre of oil would leave the Gulf while US and Israeli bombardments continue, declaring it will decide the war’s end, as the United Arab Emirates shut its largest refinery following a drone strike.

Escalation in US-Israel war on Iran deeply alarming.

For Bangladesh, exporters should plan for possible delays, even where the scheduled transit time is unchanged. When ocean schedules become volatile, brands often push urgent top-ups by air or at least move samples and approvals by air. But air is also being hit.

Bangladesh’s export success has never been just about competitive labour or entrepreneurial energy.

Shipping disruptions, cargo rerouting, and rising freight and insurance costs are set to increase business expenses

Approximately 20 million barrels of crude oil passed through Hormuz in 2024. Close to 27 percent of all global maritime petroleum trade passed through the strait in the first quarter of 2025. The strait is a critical, narrow chokepoint, with a 33-39 kilometers waterway between Oman and Iran.

Bangladesh’s energy security is increasingly vulnerable to Middle Eastern geopolitics, as it sourced over 50% of its LNG imports from Qatar, UAE in 2025

The strait is especially key to the world energy markets, with around 20 percent of global seaborne oil passing through.

Much of the oil flows to Asia, and particularly China which was the main buyer of Iranian crude