Iran deputy foreign minister said Iran's policy is that the Strait of Hormuz will never revert to its pre-war state.

Reportedly, the EU is planning sanctions on more than 1,600 companies for assisting Russia's war in Ukraine, the largest single sanctions list to date. Targeted firms have combined annual revenues of over $20bn and employ more than 265,000. The package requires unanimous approval by EU member states; if adopted, the number of entities sanctioned by the EU in the Russia‑Ukraine conflict would rise by about 50%.

Brent crude futures fell nearly 3% to $85.71/bbl, the lowest since July 17.