Australia Briefing

Hormuz Blockade, Australia Acts to Secure Urea

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ISLAMABAD, PAKISTAN - APRIL 12: U.S. Vice President JD Vance speaks as Jared Kushner (L) and Steve Witkoff, Special Envoy for Peace Missions, listen during a news conference after a meeting with representatives from Pakistan and Iran on April 12, 2026 in Islamabad, Pakistan.Photographer: Pool/Getty Images AsiaPac

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By Ainsley Thomson

April 12, 2026 at 11:00 PM UTC

Good morning and welcome back. Escalating tensions with Iran are front and center today after the US and Iran failed to reach a deal in direct talks held in Pakistan over the weekend. Hours later, President Donald Trump said the US would begin a full naval blockade of the strategic Strait of Hormuz, warning of retaliation if Iran resists.

The developments come as economic policymakers from around the world gather in Washington for the IMF and World Bank’s spring meetings, where assessing the fallout for global growth will be high on the agenda.
- Ainsley Thomson, Wellington Bureau Chief