Iran war costs global companies at least $25 billion - Reuters

A military adviser to Iran’s Supreme Leader said on Monday that oil buyers such as China would not tolerate any US attempt to block commercial ships and oil tankers near the Strait of Hormuz.

“If they want to block the passage of commercial ships and oil tankers, this will not only increase tensions in the oil market, but oil buyers such as China will not tolerate the situation,” Mohsen Rezaei said.

The former IRGC chief warned the United States against the blockade, saying Iran considered it an act of war.

“I advise the US army to retreat before the Sea of Oman becomes a graveyard for their ships,” he said.

Iran’s judiciary seized the assets of 129 people in West Azarbaijan province on accusations cooperation with foreign countries, the province’s chief justice said on Monday.

Nasser Atabati accused them of working with the United States and Israel, without providing evidence.

He said the judiciary would continue asset seizures against those he called “traitors.”

Government bonds from Tokyo to New York extended losses on Monday as rising energy prices linked to the Middle East war fueled inflation fears and strengthened bets on further global interest rate hikes.

Benchmark 10-year US Treasury yields climbed to 4.6310%, their highest level since February 2025, after rising more than 20 basis points last week.

The two-year yield touched a 14-month high of 4.1020%, while the 30-year Treasury yield rose to a one-year high of 5.1590%.

US Congressman Carlos Gimenez warned that Iranian drones “could be in Cuba,” highlighting the range and strike capabilities of Tehran’s widely used Shahed-136 drones.

Gimenez, a member of the House Armed Services and Homeland Security committees, said the drones can travel between 1,000 and 2,500 kilometers and carry explosive payloads of up to 50 kilograms.

He added that the low-cost drones use satellite navigation, fly at relatively low speeds to help evade radar and can be used for kamikaze attacks as well as intelligence and reconnaissance missions.

Canadian Prime Minister Mark Carney said Ottawa joined the International Atomic Energy Agency in condemning drone attacks targeting the Barakah nuclear power plant in the United Arab Emirates.

Carney warned that attacks on civilian nuclear facilities pose serious risks to human life and the environment.

Canada also expressed solidarity with the UAE and renewed calls for restraint and de-escalation across the region as tensions linked to the Iran conflict continue.