Maritime Security & Energy Risks: Iran ordered the Strait of Hormuz closed to all vessels, warning any passage would be targeted, while the US denied a full closure and said commercial ships are still transiting—raising fresh uncertainty for global oil flows. Oman Shipping Incident: UKMTO reported a tanker fire in its engine room about 21 nautical miles northeast of Sohar; no environmental impact was reported and investigations are ongoing. Indian Seafarers Tragedy: A US strike on the Palau-flagged MT Settebello near Oman left three Indian crew members dead (21 rescued); India summoned the US chargé d’affaires and lodged a strong protest, while Oman authorities coordinated search and repatriation. Oman Financial Sector: Oman launched an International Financial Centre of Oman (IFC Oman) to attract global investors with a cross-border legal and regulatory framework, including licensing, regulation and dispute resolution. EV Insurance Regulation: Oman’s Financial Services Authority mandated minimum EV insurance underwriting coverage by end-2026, with monthly reporting requirements. Port Decarbonisation: Hutchison Ports Sohar signed for 12 automated electric rubber tyred gantry cranes for delivery in 2027, aiming to cut port emissions and improve efficiency. Infrastructure Progress: Hafeet Rail said the Oman-UAE railway project is 40% complete, with construction accelerating across key route locations.