Global Express | August 14, 2026 UAE Accuses Iran of Attacking Two Tankers in Strait of Hormuz

1. UAE accuses Iran of attacking two tankers in Strait of Hormuz

The United Arab Emirates on August 14 strongly condemned Iran for attacking two vessels linked to the Abu Dhabi National Oil Company (ADNOC) in the Strait of Hormuz. According to Emirati media, the two tankers were attacked while transiting the vital energy corridor on Thursday evening. No injuries were reported, and the situation was later brought under control.

The UAE described the attack as "piracy" and warned that it threatened global energy security. It marked the latest in a series of attacks on commercial shipping in the waterway, which carries roughly one-fifth of the world's oil. Tensions between Washington and Tehran over control of the strait have been escalating in recent weeks.

Iran has not yet formally responded to the accusation. Analysts warn that if such attacks on tankers continue, they could further push up global oil prices and heighten security risks across the Middle East.

2. Poland thwarts Russian plot to kill Ukrainian-American citizen

Polish Prime Minister Donald Tusk said on August 13 that Poland had thwarted a Russian plot to assassinate a Ukrainian-American citizen in Warsaw before it could be carried out. Polish authorities arrested a Russian man who had reportedly been hired by Moscow to carry out the killing. Tusk said it was the first time in decades that a Western leader had publicly accused Russia of directly ordering such an act.

The incident comes amid the ongoing Russia-Ukraine war and heightened tensions between Russia and NATO. Poland, a NATO member and key neighbour of Ukraine, has repeatedly accused Russia of espionage and sabotage on its territory in recent years. Analysts say the revelation is likely to further inflame relations between Warsaw and Moscow.

Polish authorities did not disclose further details about the intended target, but stressed they would fully protect foreign nationals on their soil and step up intelligence sharing with allies.

3. 54 Ukrainian drones strike Russia's Ust-Luga port

Ukraine launched 54 drones overnight on August 14 against Ust-Luga, Russia's key Baltic Sea oil export port, triggering a fire and disrupting operations. It marked at least the sixth drone attack on the port this year.

Ust-Luga is a crucial hub for Russian crude and liquefied natural gas exports to Europe. The strike underscored Ukraine's strategy of extending the war deep into Russian territory and striking at Moscow's energy lifelines. Russian regional authorities said the fire had been brought under control, with no immediate reports of casualties.

Analysts note that Ukraine's sustained campaign against Russian energy infrastructure aims to weaken Moscow's war economy, while also adding to instability in global energy markets.

4. North Korea protests upcoming US-South Korea drills

North Korea on August 14 denounced major US-South Korea military exercises set to begin next week as a provocation that heightens tensions on the Korean Peninsula. A foreign ministry spokesperson said via state media that US-Japan-South Korea military cooperation was turning into a "nuclear alliance," and that Pyongyang would respond to a new level of threat with a new level of deterrence.

North Korea also accused Washington of pushing the world "to the brink of nuclear war." Pyongyang has already test-fired a ballistic missile ahead of the drills. It has long condemned the joint exercises as a "rehearsal for invasion," while Seoul and Washington insist the drills are purely defensive.

Tensions on the peninsula remain elevated, with growing concerns that North Korea could conduct further weapons tests or even a nuclear test.

5. US imposes tariffs of up to 100% on imported drones

US President Donald Trump on August 13 signed a proclamation imposing tariffs of 10% to 100% on imported drones and their components, citing national security. Highly sensitive drones—including those weighing more than 25 kilograms or equipped with thermal imaging—will face 100% duties, while smaller drones and some components face 25%.

Drones from the European Union, Japan, South Korea and several other allies will face 15% tariffs, while British products face 10%. The measures take effect 21 days after signing, with some non-sensitive components delayed to 180 days. The White House said the move aims to reduce US reliance on China's dominant drone supply chain and encourage domestic production.

Analysts say the decision will further deepen the decoupling of high-tech supply chains between the US and China and reshape the global drone industry.

6. US stocks hit record high as inflation cools

US stocks climbed to an all-time high on August 14, lifted by signs that inflation is easing and by a retreat in oil prices. A slower rise in wholesale prices reassured investors and eased expectations of further interest-rate hikes by the Federal Reserve.

Consumer price data released earlier in the week also showed inflation moderating. Although Middle East tensions had pushed oil prices higher, the pullback in energy costs calmed worries about imported inflation. The Dow, S&P 500 and Nasdaq all touched or approached record levels.

Market participants said cooling inflation combined with solid corporate earnings provided support for equities, though geopolitical risk remains a key variable for the outlook.

7. Record rain kills eight in Japan's Chiba prefecture

Record-breaking heavy rain in Japan's Chiba prefecture, in the Kanto region, had killed eight people and left one missing as of August 14. Chiba city recorded 348 millimetres of rain in just 12 hours—an all-time high and roughly triple the average for the entire month of August. Japan's weather agency officially named the event the "Reiwa 8 Chiba Rainstorm."

The downpour triggered severe flooding, stranding more than 7,400 people due to disrupted transport, and leaving large numbers of travellers stuck at Narita Airport. The weather agency warned that atmospheric conditions remain unstable and that more heavy rain could hit the area before early August 15.

Local and central authorities have launched emergency rescue operations, prioritising saving lives and recovery efforts.

8. Spain sees first total solar eclipse in over a century

Spain witnessed its first total solar eclipse in more than a century on August 13, as millions of people crowded cloudless cities and towns to watch the rare celestial event. As the sun, moon and Earth aligned and the sky darkened, crowds broke into applause and cheers.

The path of totality swept across parts of Spain for only a few minutes, yet it drew astronomy enthusiasts and tourists from around the world. Local authorities issued viewing guidance in advance, urging people to wear protective eyewear.

The last time Spain experienced a total solar eclipse was more than a hundred years ago, making the "black noon" spectacle a once-in-a-lifetime experience for many.

9. OpenAI's revenue run rate tops $40 billion

OpenAI's annualized revenue run rate has surpassed $40 billion, roughly doubling its pace from the end of 2025, according to people familiar with the matter, strengthening the company's momentum ahead of an expected initial public offering.

The company behind ChatGPT has rapidly expanded its business through subscriptions and enterprise services built on its large language models. OpenAI has recently reshuffled its executive ranks and added a new chief revenue officer as it prepares for a public listing.

Analysts say OpenAI's revenue growth leads the AI industry, but high computing costs and intensifying competition remain challenges it must address before going public.

10. Chinese, Russian ambassadors jointly oppose glorifying militarism

Ahead of the August 15 anniversary of Japan's unconditional surrender in World War II, Russia's ambassador to Japan and China's ambassador to Japan published a joint signed article stressing the importance of remembering World War II history and safeguarding its outcomes, while expressing deep concern over arms expansion by certain countries.

Titled "China and Russia – Reaching New Heights Together," the article came as the two countries mark the 30th anniversary of their strategic partnership and the 25th anniversary of their treaty of good-neighbourliness. It said the peoples of China and Russia made enormous sacrifices in the fight against fascism and Japanese militarism, and that both sides firmly oppose any attempt to distort WWII history or glorify militarism.

The article also signalled shared concerns over regional security. Meanwhile, the sovereignty dispute over the Northern Territories (called the Southern Kurils by Russia) continues, with the United States recently voicing support for Japan's claim, adding further complexity to regional tensions.