Cryptouae

President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz, just one day after rolling out the fee, after US allies in the Gulf urged him to drop it. Trump spoke Tuesday in the Oval Office.

HSBC launched its tokenised deposit service in the United Arab Emirates, adding the UAE dirham to its blockchain-based Orion network and enabling around-the-clock corporate cash management.

Binance has launched a fully regulated dirham on and off-ramp solution in the United Arab Emirates, allowing users to move funds directly between local bank accounts and cryptocurrency markets.

The United Arab Emirates is emerging as a key hub for the convergence of traditional banking and blockchain-based payments as stablecoins become an increasingly important part of global financial infrastructure.

Etihad Airways CEO Antonoaldo Neves speaks to Bloomberg's Guy Johnson at the International Air Transport Association (IATA) conference in Rio de Janeiro. He says the carrier is discounting tickets by keeping fares at a stable level despite the 70% jump in fuel costs. Neves also talks about securing delivery dates for new aircraft from Boeing and Airbus SE.

Russian airlines are circumventing US, European Union and UK sanctions by procuring aviation equipment via India, Turkey, the United Arab Emirates and Kazakhstan, among others, a Bloomberg investigation shows. Some spare parts were tracked by serial numbers as they journeyed from Western suppliers to intermediaries to Russian companies. Bloomberg News contacted parties involved in such deals, and several said they would no longer do business with each other or with Russia. Bloomberg's Kate Duffy reports.

US President Donald Trump said he called off a new bombardment of Iran planned for Tuesday after Persian Gulf allies wanted more time to pursue diplomacy. Tyler Kendall reports on Bloomberg Television.

Oil shipments from Iran's main export terminal appear to have come to a standstill over the past several days. European satellite imagery compiled by Bloomberg shows there were no ocean-going oil tankers observed at Kharg Island on May 8, 9 or 11. If Kharg Island were to remain idle, it would increase the pressure on the country's remaining storage facilities. Bloomberg's Stuart Livingstone-Wallace reports.

Sean McHugh, head of market assurance at VARA, joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto." VARA, Virtual Assets Regulatory Authority, is responsible for regulating, supervising, and overseeing virtual assets and related activities across all commercial zones in the Emirate of Dubai, excluding the Dubai International Financial Centre.

The US and Iran clashed overnight near the Strait of Hormuz and the Iranian army seized an oil tanker carrying a cargo of the Islamic Republic's oil. Iran's Ministry of Foreign Affairs released a statement Friday saying US action is accompanied by contradictory statements and misleading propaganda by senior officials. Tyler Kendall reports on Bloomberg Television.