🔥 HORMUZ — A 2025-built LR1 on fire confirms no ship is new enough to be safe. 📌 LOOK CLOSER: Kavomaleas, built 2025, is among the newest hulls in global product trade — torched in its first operating year. Double strike to the engine room signals deliberate disablement. War risk insurers already exiting Hormuz; a brand-new LR1 ablaze removes the last commercial rationale to attempt transit. No modern hull is insurable here now.
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💻 SANCTIONS — A Dubai exchange named as IRGC financier pulls UAE into the conflict. 📌 LOOK CLOSER: A Dubai crypto exchange sanctioned for IRGC financing pulls the UAE into the financial war as Abu Dhabi anchors the Hormuz corridor talks. The IRGC routes funds via crypto to bypass sanctions; naming a Gulf
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🤝 ISLAMABAD — Sharif calling it "historic" means this moved from talks to done deal. 📌 LOOK CLOSER: Yesterday it was three states eyeing a joint budget. Today a sitting PM labels it historic on the record — that's a ratification signal, not aspiration. Saudi Arabia is Washington's
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💸 COSTS — Six months in, and Washington still can't put a number on it. 📌 LOOK CLOSER: Unquantified war costs after 161 days signal deliberate opacity, not accounting lag. Congress needs figures to fund continuation; markets need them to price duration risk. Cruise missile stockpiles near depletion adds a hidden
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🕊️ TEHRAN — Iran's peace price has always been US forces out of the Gulf. 📌 LOOK CLOSER: Gharibabadi reframes the Oman talks: Iran isn't negotiating passage terms — it's demanding US forces leave the Gulf. Washington can't accept that. The corridor-vs-withdrawal gap is