A motorboat travels past commercial vessels anchored amid haze in the Strait of Hormuz off Bandar Abbas, Iran. (Photo: AP)Tensions between Washington and Tehran deepened this week after Iran’s top security official warned that the country is preparing to enforce a restricted zone across the Gulf, threatening a full blockade around the Strait of Hormuz in retaliation for US economic sanctions. The warning came as shipping traffic through the strait fell sharply, US forces continued intercepting vessels linked to Iran, and analysts said the standoff shows little sign of shifting from confrontation towards genuine diplomacy.Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said on social media that Tehran’s recent missile launches served as “a clear warning” to Washington, cautioning that the “operational posture toward US warships and bases has been fundamentally recalibrated.” His comments came against a backdrop of falling shipping volumes through Hormuz, continued US Navy activity in the waterway, and a wider regional picture in which Gulf states are increasingly questioning their reliance on Washington for security.Story continues below this adKey world developments:Rezaei warned that US “economic warfare will be met by a maritime exclusion zone across the Persian Gulf to the blockade perimeter.”Kpler shipping data showed vessel traffic through Hormuz fell 28 percent to 77 ships last week.Iran increases gasoline price for its heaviest consumers as economy strugglesUS Central Command said it has redirected 94 vessels, disabled three and boarded two since mid-July.Ross Harrison of the Middle East Institute said the conflict is “a negotiation occurring but on the battlefield.”Follow the latest world news and major international developments here. This live blog is a rolling curation of the day’s key global stories, with updates added as events unfold and the news agenda changes. The headline, introduction and Top Developments section will be refreshed throughout the day to reflect the stories that matter most at that moment.Live UpdatesSep 8, 2026 05:00 AM ISTIran increases gasoline price for its heaviest consumers as economy strugglesIran introduced a steep price hike for its heaviest gasoline users early Tuesday, state media reported, marking the second such increase since December and adding to economic strain from months of war and sanctions. Officials said the move, aimed at curbing record consumption, would channel extra revenue to households, though ordinary Iranians say it's compounding an already difficult cost-of-living crisis.Under the new pricing, consumers exceeding their monthly quota of 110 litres (29 gallons) now pay 100,000 rials per litre double the previous rate a change officials said will affect about 15 percent of consumers.The state oil distribution company's CEO said gasoline consumption hit a record 145 million litres a day in August, well above domestic production capacity of 122 million litres, with the shortfall met by imports.The hike comes as Iran's currency trades near record lows against the dollar and annual inflation sits around 67 percent, according to the government's own statistics agency.Sep 8, 2026 04:58 AM ISTHello and welcome to our blog! Here, we bring you all the latest world stories throughout the day from breaking headlines to the developments shaping global events. Stay with us as we track the stories that matter, as they happen.Stay updated with the latest - Click here to follow us on Instagram© IE Online Media Services Pvt LtdTags:donald trumpIran US tension