UN Security Council begins meeting on Strait of Hormuz; Tasnim reports that the final text has removed the phrase "all necessary means" due to opposition from Moscow and Beijing, and emphasizes defense coordination for escorting commercial ships

The removal of "all necessary means" from the UN resolution signals a significant de-escalation in the approach to the Strait of Hormuz amid pushback from Russia and China. This shift emphasizes defense coordination rather than military action, which may ease tensions in the region and stabilize oil prices temporarily. Watch for market reactions in oil and safe-haven assets as the implications of continued diplomatic efforts unfold.