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City AM

As it happened: Stocks mixed as Trump warns takes ‘two to tango’ on Iran peace As it happened: Stocks mixed as Trump warns takes ‘two to tango’ on Iran peace Replace Reeves if Starmer goes, voters tell Labour Right to Buy has been a huge success, of course the left hates it Regional bond revolution risks making Britain more unequal and less prudent Labour may not agree with Blair, but the public does… The world can’t keep consuming more than it produces If performance matters more than privilege then prove it Wayve: London robotaxis will make passengers forget there’s no driver Mandelson Files add insult to injury, but the patient was already beyond saving Blackstone Raises its Largest Asia Private Equity Fund at $13.1 Billion Pension master trusts join forces to tackle outdated transfer systems Iran ‘pulls out of talks with US’ and threatens to strike Israel Anthropic files for IPO as race with OpenAI heats up ‘Be more Trumpian’ – Mandelson discussed dire economy and ‘lack of verve’ with key Starmer ally Deloitte UK appoints first chief AI officer in drive for ‘AI-enabled’ services Private credit is crowded — but disciplined capital still knows where to look Squash players turn to social media to cash in on LA Olympic Games opportunities Interactive Brokers Integrates AI into Client Portfolios – Informed by Agentic Technology, Controlled by the Client WWEX Group and Auctane Complete Merger, Creating Leading Logistics Provider ShipStation Global Sadiq Khan: London tech boom can weather ‘dizzying’ AI risks New mixed gender trophy introduced for coming Hundred season Labour voters lead AI adoption as public remains split on impact North Highland Names Anthony Shaw Global Chief Executive Officer Vyond Appoints SaaS Industry Veteran Scott Ernst as Chief Executive Officer Winston Taylor Completes Historic Transatlantic Combination M&S chief’s pay slashed by £3m after cyberattack turmoil Inside Celonis, the German tech unicorn that won over a fifth of the FTSE 100 Stop and think before asking for a bigger salary Brits back Blair’s growth calls – yet are squeamish over welfare cuts Number of claims management firms halves after FCA clampdown Richard Desmond hit with £40m bill over ‘fanciful’ lottery feud Pub bosses warn tax hikes driving youth unemployment crisis UK manufacturing survives Iran war impact Labour sheds union member support to Reform, poll shows Private equity-backed Ryan triumphs in bidding for European tax adviser Svalner Atlas Wise shares plummet as money transfer firm faces fraud investigation KBRA Releases Research – European Fibre ABS: From Build-out to Securitisation Everbridge Expands Presence in Germany with New Munich Office Iran war triggers slump in selfies, ME Group warns Landlords rush to protect income over Renters’ Rights Act fears Ascensia Diabetes Care Expands CONTOUR® Portfolio with CONTOUR®COMFORT Pen Needles to Bring Greater Stability and Control to the Everyday Injection Experience Corient Completes Acquisitions of Stonehage Fleming and Stanhope Capital Group; Global Assets Surpass US$500 Billion Autobrains and Uber to Launch Agentic AI Robotaxi Program in Munich built on NVIDIA DRIVE Hyperion Easyjet fires back at ‘highly opportunistic timing’ as Castlelake weighs takeover bid House prices fall again as property market ‘deteriorates’ Exclusive: Roland Garros star and ATP chief in £450,000 tennis fund raise Milburn NEET review: Anger crackles from the page but will Labour act? 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Strait of Hormuz closed over ceasefire violations, says Iran
Felix Armstrong · 2026-06-20 · via City AM

 |  Updated: 

Aerial view of ships navigating the strategic Strait of Hormuz, highlighting its importance to global maritime trade routes
Iran says it has closed the Strait of Hormuz (AP/PA Images)

Iran’s top military command has said it will shut the Strait of Hormuz in response to alleged violations of the ceasefire agreement by the US and Israel.

The command said the crucial shipping passage will be closed to vessel traffic as the “first response” to alleged breaches of the deal, Reuters has reported

The military command said the closure comes in response to Israel’s continued attacks in southern Lebanon, according to Iran’s semi-official Tasnim news agency.

Iran’s military command cited a “violation” of the first clause of a memorandum of understanding (MOU) signed in a bid to end the war.

This clause refers to the “immediate and permanent termination of military operations on all fronts, including in Lebanon”.

Iran warns of ‘subsequent steps’

A statement broadcast on state television by Iran’s military warned that “if the aggression continues, subsequent steps have been planned”.

A ceasefire deal between Israel and the Hezbollah militant group was supposed to take effect at 2pm UK time on Friday. 

Israel has launched strikes against multiple locations in the south of Lebanon, according to the country’s state news agency.

The Israeli Defence Forces (IDF) claimed that these strikes came in response to Hezbollah launching more than 50 projectiles at soldiers operating in southern Lebanon.

The IDF said it “remains committed” to the ceasefire with Iran-backed Hezbollah but “will continue to operate to remove any threat posed to the State of Israel and IDF soldiers”.

Israel has insisted that it will continue to occupy southern Lebanon.

Vance says strait not closed

US vice president JD Vance told Fox News earlier on Saturday that there is no evidence that Tehran is closing the Strait of Hormuz.

He said that talks with Iran were going well, adding that he was confident that the ceasefire could be maintained. 

Peace talks in Switzerland between the US and Iran are due to continue, the Swiss foreign ministry said on Saturday, according to Reuters. 

Friday’s discussions were abruptly called off after Hezbollah killed four Israeli soldiers and Israel carried out a wave of retaliatory strikes in south Lebanon which killed at least 18 people.