Donald Trump

Iran said on Wednesday that it was reviewing a United States peace proposal that sources said would formally end the war, while leaving unresolved the key US demands that Iran suspend its nuclear programme and reopen the Strait of Hormuz.

An Iranian Foreign Ministry spokesperson quoted by Iran’s ISNA news agency said on Wednesday that Tehran would convey its response. US President Donald Trump said he believed Iran wanted an agreement.

“They want to make a deal. We’ve had very good talks over the last 24 hours, and it’s very possible that we’ll make a deal,” Trump told reporters in the Oval Office on Wednesday.

A day before, Trump paused “Project Freedom” to reopen the blockaded strait, citing progress in peace talks. The de facto blockade of the waterway threatens to cause a global recession. Iran has been pressing to keep Hormuz under its control, through which a fifth of global oil and gas supply passes.

Here is more about the US proposal to end the war, and how experts think Iran would respond.

What is the latest US proposal to end the Iran war?

US media outlet Axios said the two sides were “getting close” to an agreement on a 14-point document. Under the memorandum, Iran would agree not to develop a nuclear weapon and halt enrichment of uranium for at least 12 years, it said.

The US would lift sanctions and release billions of dollars in frozen Iranian assets, and both sides, which have imposed competing blockades in the Strait of Hormuz, would reopen the critical waterway within 30 days of signing.

Iran has been under US sanctions for decades, and the lifting of some sanctions under the 2015 nuclear agreement was reversed after Trump walked out of the landmark deal signed under his predecessor, President Barack Obama. Billions of dollars of Iranian assets remain frozen in foreign banks due to the sanctions.

It is unclear how this memorandum differs from a 14-point plan proposed by Iran last week.

The Reuters news agency reported on Thursday, citing a source briefed on the mediation, that the US negotiations were being led by Trump’s envoy Steve Witkoff and son-in-law Jared Kushner. If both sides agreed on the preliminary deal, that would start the clock on 30 days of detailed negotiations to reach a full agreement.

The full agreement would end the competing US and Iranian blockades on the strait, lift US sanctions and release frozen Iranian funds. It would also include certain curbs on Iran’s nuclear programme, which was allowed by the United Nations nuclear watchdog.

While the sources said the memorandum would not initially require concessions from either side, they did not mention several key demands Washington has made in the past, which Iran has rejected, such as curbs on Iran’s missile programme and an end to its support for armed proxy groups in the Middle East.

The sources also made no mention of Iran’s existing stockpile of more than 400kg (900lb) of near-weapons-grade uranium.

Israeli Prime Minister Benjamin Netanyahu, Trump’s ally, said on Wednesday the two leaders agreed that all enriched uranium must be removed from Iran to prevent it from developing a nuclear bomb.

The US and Israel bombed Iranian nuclear sites last June during the 12-day war, after which Trump claimed that Tehran’s nuclear programme was obliterated. A significant portion of Iran’s enriched uranium stockpile remains buried inside the bombed nuclear sites.

Tehran denies wanting to acquire a nuclear weapon. It insists its programme is for civilian purposes as allowed within its position as a signatory to the non-proliferation treaty.

Could Iran agree to this proposal?

Iran has yet to formally respond to the latest US proposal. However, Iranian leaders have pushed back against it.

Iranian lawmaker Ebrahim Rezaee, a spokesperson for the parliament’s powerful foreign policy and national security committee, described the text as “more of an American wish-list than a reality”.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf appeared to mock reports that the two sides were close, writing on social media in English that “Operation Trust Me Bro failed.”

Al Jazeera’s Resul Serdar Atas, reporting from Tehran, said on Thursday that Iran is still reviewing the US proposal, after which a response is expected to be given to the Pakistani mediators later today.

The Pakistani Ministry of Foreign Affairs said on Thursday that it welcomes the news of a potential agreement between Iran and the US, adding that it will not disclose additional information at this stage.

“As mediators, we will not lose the trust of both parties by revealing details,” it said in a statement quoted by Al Jazeera Arabic.

Atas said, “Iranians are saying that, at this stage, they’re not negotiating their nuclear programme; it’s only about ending the war on all fronts.”

He added that Tehran wants direct guarantees from the UN Security Council, a lifting of sanctions and the reopening of the Strait of Hormuz.

“If that is achieved, in a second phase, they’re ready to discuss their nuclear programme.”

Al Jazeera’s Almigdad Alruhaid reported from Tehran on Tuesday that Iran has set “a very firm red line” on the nuclear file. “The nuclear enrichment programme is non-negotiable,” he said.

According to former US Assistant Secretary of State Mark Kimmitt, Trump’s reported demand that Iran halt all uranium enrichment is unrealistic and unlikely to be accepted by Tehran.

“If there is anything the Iranians are going to insist upon in these negotiations, it is their right to enrich uranium to the 3.67 percent level, which is allowed under nuclear non-proliferation treaties,” he told Al Jazeera.

Kimmitt added that even the 2015 nuclear deal permitted Iran to continue enrichment. Iran boosted its enrichment up to 60 percent after Trump withdrew from the deal in 2018, during his first term.

However, Kimmitt postulated that Trump might want Iran’s existing stockpile of enriched uranium outside of Iran. He added that Iran might either agree to move the enriched uranium outside the country or dilute it down to a non-enriched state.

Alruhaid, the Al Jazeera correspondent, however, said Iran is resisting handing over its existing stockpile of enriched uranium.

Iran is believed to have about 440kg (970lb) of uranium enriched to 60 percent. A 90 percent threshold of enriched uranium is needed to produce a nuclear weapon.

Al Jazeera’s Alruhaid said “the sovereignty on the Strait of Hormuz is becoming one of the main issues on the negotiating table.

“We are seeing the Iranians are tightening their control. They are setting new protocol, new mechanism for controlling that strategic chokepoint for each vessel that is to pass through.”

The US allies in the Gulf, who faced the brunt of Iranian retaliatory strikes, have been pushing for the restoration of navigation in the strait without any conditions. Iran carried out attacks on the Gulf nations, mainly targeting US military assets, after the US and Israel launched attacks on it on February 28.

Trump has repeatedly played up the prospect of an agreement that would end the war, so far without success. The two sides remain at odds over a variety of difficult issues, such as Iran’s nuclear ambitions and its control of the Strait of Hormuz.

A Pakistani source and another source briefed on the mediation told Reuters that an agreement was close on a one-page memorandum that would formally end the conflict, the agency reported on Thursday.

This agreement would kick off discussions to unblock shipping through the strait, lift US sanctions on Iran and set curbs on Iran’s nuclear programme, the sources said.

Al Jazeera, however, could not confirm the veracity of the reports.

Latest votes set up key Senate race, underscore Trump’s continued influence over Republican Party.

Primary elections in Indiana and Ohio have drawn the latest battle lines for the United States midterm elections in November, while underscoring Trump’s continued sway over Republican voters.

In Ohio, voters on Tuesday picked the candidates who will face off in the consequential election, with Democrats picking former Senator Sherrod Brown to take on Republican Jon Husted. Husted replaced Vice President JD Vance when he left his Senate seat for the White House.

The race is considered one of the most consequential, as Democrats face an uphill battle to retake control of the Senate, which currently has a 53-47 Republican majority. Brown has long styled himself as an economic populist, able to cut across party lines, while Republican groups have pledged to spend heavily to defend Husted.

Also in the “Buckeye State”, Trump ally Vivek Ramaswamy won the Republican gubernatorial nomination. Ramaswamy, who had a short tenure co-running Trump’s Department of Government Efficiency (DOGE) panel, will face off with Democrat Amy Acton, who led the state’s Department of Health during the COVID-19 pandemic.

In Indiana, meanwhile, Trump’s continued influence over the Republican Party was apparent, even as polls have seen his overall approval rating tank in recent weeks amid economic uncertainty and the US-Israeli war in Iran.

The US president had promised to target Republicans who pushed back on his calls for Indiana to redraw its congressional districts in advance of the midterms. Indiana was one of the few Republican-controlled state legislatures to reject the president’s pressure amid a wider flurry of state redistricting.

Five of the state-level candidates Trump targeted subsequently lost their primary elections on Tuesday. One candidate won, and one race remained too close to call.

State Senator Linda Rogers, one of the ousted Republicans, said Trump’s successful attempt to scuttle her race sent a clear message to others in the party considering opposing the president.

“If someone is going to ask you to take a tough vote, you may think twice about your conscience and what’s best for your community and instead what’s best for you and your career,” she said.

The primary comes shortly before US Representative Thomas Massie in Kentucky and US Senator Bill Cassidy in Louisiana, both Republicans, face punishing primary challenges. Trump is opposing both incumbents.

Massie has been one of the most outspoken critics of the administration, particularly when it comes to the US-Israeli war in Iran and the Department of Justice’s handling of documents related to disgraced financier Jeffrey Epstein.

Cassidy had voted to impeach Trump in 2021 for his role in the January 6, 2021, riot at the US Capitol and remained a critic throughout Trump’s 2024 re-election campaign.

While Trump’s influence remained strong in the Indiana primary, it does not necessarily spell Republican success in the general elections.

Recent polls have shown tanking support for Trump among independents, who are unaffiliated with either party and often serve as key deciding factors in close races.

For example, a recent NPR/PBS News/Marist Poll found that 63 percent of US residents nationally place a “great deal or good amount of blame” on Trump for high petrol prices. That rate was the same – 63 percent – for independents.

May 6 (UPI) — Global oil prices fell sharply and financial markets rallied Wednesday after U.S. President Donald Trump paused a military operation to reopen the Hormuz Strait to commercial shipping to give advanced peace talks with Iran a chance to deliver “a complete and final deal.”

Falls in Brent crude of more than $10 a barrel to $99, American crude by $13 to $92 a barrel and rallies in Asian stock markets overnight that fed into Europe when bourses opened there failed to feed through to U.S. gas prices, which jumped 5 cents a gallon to their highest level of the war.

AAA motor club figures showed a national average of $4.54 for a gallon of petrol and $5.67 for diesel, meaning drivers were paying 53% and 51% more than before the war started on Feb. 28, with the caveat that fuel price adjustments normally lag crude oil price movements by several days.

The White House believes a draft one-page, 14-point memorandum of understanding to end the war and create a structure for more in-depth nuclear talks could succeed in breaking the deadlock, two U.S. officials and two other sources said.

An Iranian foreign ministry spokesman confirmed to CNBC that Iran was in receipt of the U.S. proposal and was “evaluating it.”

The Trump administration anticipates Iran will give its response with regard to the most critical elements of the plan in the next two days and although nothing has been finalized it was being seen as significant because it was the closest the sides had been to a deal since the beginning of the war.

However, Trump also appeared ambivalent, saying Wednesday it was “perhaps” too big of a stretch to believe Iran would take the deal and threatening to order the U.S. military to restart its airborne offensive against the country if it didn’t.

Analysts said investor confidence was boosted mainly by the fact the cease-fire was holding and signs that the economy was nowhere near as badly affected by the war as feared.

“This helped oil prices to come back down again and ease fears about a renewed escalation, with investors a bit more hopeful that an extended stagflationary shock would be avoided,” Deutsche Bank wrote in a note.

It added that investor confidence was also bolstered by new U.S. economic data showing among other positive indicators, that job vacancies declined less than anticipated in March, saying the numbers “cemented the case that the conflict’s wider economic impact was still fairly muted.”

“This helped oil prices to come back down again and ease fears about a renewed escalation, with investors a bit more hopeful that an extended stagflationary shock would be avoided,” they added.

Hopes were also riding on the possibility China would prevail on visiting Iranian foreign minister Abbas Araghchi to persuade Iran to uphold the current truce with the United States, so as not to throw a wrench into Trump’s visit to Beijing on May 14, the first by any U.S. president in almost a decade.

China is one of Iran’s largest customers for its oil exports.

South Korean stocks shot up nearly 6.5 percent Wednesday, extending a record-breaking run to top the 7,300-point mark, driven by a semiconductor rally and optimism for a potential peace deal in the Middle East. The local currency also strengthened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 447.57 points, or 6.45 percent, to a fresh record high of 7,384.56.

It marked the second-largest daily gain in terms of points following 490.36 points reached on March 5.

Trade volume was heavy at 984.4 million shares worth 58.2 trillion won (US$40 billion), with losers outnumbering winners 199 to 677.

Foreigners bought 3.1 trillion won worth of local shares, while institutions and individuals dumped a net 2.3 trillion won and 571.2 billion won, respectively.

Overnight, U.S. President Donald Trump said he would pause operations to escort ships through the Strait of Hormuz as part of efforts to reach a final agreement with Iran.

The KOSPI opened 2.25 percent higher to surpass the landmark 7,000-point threshold for the first time and extended the gains throughout the session.

The main index has been on a bullish run in recent months, surpassing the 5,000-point mark in late January and topping another milestone of 6,000 points in February.

After recouping its losses in March following the outbreak of the U.S.-Iran war in late February, the KOSPI breached the 7,000-point level on continued optimism over the artificial intelligence (AI) boom and hopes for the reopening of the key waterway.

“Global tech giants’ strong performances and the strengthened value chain for AI data centers boosted the AI-related shares,” Lee Kyung-min, an analyst at Daishin Securities, said. “In particular, the market’s top-three shares of Samsung Electronics, SK hynix and SK Square led the rally.”

Top-cap Samsung Electronics surged 14.41 percent to close at 266,000 won, pushing its market capitalization above 1.5 quadrillion won and becoming the second Asian company to surpass the $1 trillion milestone after Taiwan Semiconductor Manufacturing Co.

SK hynix soared 10.64 percent to 1.6 million won, and AI investment firm SK Square jumped 9.89 percent to 1.1 million won.

Hanmi Semiconductor, a chip manufacturing company, rose 4.37 percent to 394,500 won, and LG Electronics vaulted 8.17 percent to 154,900 won.

However, shipbuilding and defense shares dropped. Major shipyard HD Hyundai Heavy Industries fell 4.71 percent to 648,000 won, and defense giant Hanwha Aerospace lost 2.18 percent to 1.4 million won.

Leading biotech firm Samsung Biologics declined 0.34 percent to 1.48 million won, and top mobile carrier SK Telecom backtracked 1.95 percent to 95,500 won.

The Korean won was quoted at 1,455.1 won against the U.S. dollar at 3:30 p.m., up 7.7 won from the previous session.

The quotation marks the highest since February 27, when the currency closed at 1,439.7 to the greenback.

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United States Secretary of State Marco Rubio told reporters on Tuesday that Operation Epic Fury – the US-Israeli strikes on Iran which commenced on February 28 and prompted a regional conflict – had concluded as its objectives had been achieved. Washington now prefers “the path of peace”, Rubio said.

On the same day, US President Donald Trump announced that the US military operation to escort stranded ships out of the Strait of Hormuz – “Project Freedom”, which was launched the day before – had been paused.

So, does this mean the US-Israel war on Iran is over?

What did Rubio say about Operation Epic Fury?

In a media briefing at the White House on Tuesday, Rubio told reporters that Operation Epic Fury was over.

“The Operation Epic Fury is concluded. We achieved the objectives of that operation,” Rubio said.

“We’re not cheering for an additional situation to occur. We would prefer the path of peace. What the president would prefer is a deal,” he said, referring to Pakistan’s efforts to arrange direct talks between Iran and the US.

The first round of these, in Islamabad last month, ended without a resolution. Both sides have submitted new proposals since then.

“The on-again, off-again talks with Iran, alongside Trump’s abrupt about turn on ‘Operation Freedom’ to guide vessels out of the Strait of Hormuz has created unwelcome frenzy in the Gulf,” Burcu Ozcelik, a senior research fellow for Middle East security at UK-based think tank Royal United Services Institute (RUSI), told Al Jazeera.

“It also reflects the highly fraught and almost frantic diplomatic backchannelling aimed to extract deep concessions from Tehran on the nuclear issue that will lock in commitments that exceed previous conditions, and which will convince the US to lift the blockade on Iranian ports and unlock sanctions relief – thereby effectively ending the war.”

Ozcelik explained that Iran, on the other hand, wants guarantees that this will be the end of the war, rather than just a pause.

What did Trump say about Project Freedom?

The same day, Trump told reporters that Project Freedom had been paused “based on the request” of Pakistan and other countries, and the “fact that Great Progress has been made towards a Complete and Final Agreement” with representatives of Iran.

Project Freedom was the US forces’ operation to escort stranded ships through the Strait of Hormuz that Trump announced the day before. It had appeared to signal a direct challenge to Iran’s closure of the strategic waterway, through which 20 percent of the world’s oil and liquefied natural gas (LNG) supplies are shipped in peacetime. Iran’s threats to attack ships in the strait have blockaded it since the US-Israel attacks on Iran began. Then, the US announcement of a naval blockade on Iranian ports added to the standoff around the strait.

After Trump announced Project Freedom, Iran said ships trying to use the strait without permission from the Islamic Revolutionary Guard Corps (IRGC) would be fired on, igniting fears of a return to war. His announcement triggered a war of words between the US and Iran, with claims and counterclaims about strikes continuing throughout the day.

First, Iran’s Fars agency claimed it had hit a US warship with drones after it ignored orders to turn back from the Strait of Hormuz. US Central Command (CENTCOM) denied a US ship had been struck, however, and instead claimed to have sunk at least six IRGC vessels. Iran denied that. Tehran then published a new map extending its claimed area of control over the strait into UAE waters, raising fears of a new regional confrontation.

The UAE accused Iran of launching strikes on its Fujairah port, the site of an important oil pipeline, which sparked a fire in an oil refinery.

On Tuesday, the US operation had been stopped, according to Trump.

“We have mutually agreed that, while the [US] Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed,” he wrote on his Truth Social platform.

Iran has not immediately responded to this.

Shahram Akbarzadeh, a professor in Middle East and Central Asian politics at Australia’s Deakin University, told Al Jazeera that while it is difficult to determine exactly why Trump has paused Project Freedom, the pause comes against the backdrop of growing antiwar public opinion in the US.

“At the same time, Trump may be losing patience with the war; he says he has time to drag this out,” Akbarzadeh said.

“But in reality, Trump has a short attention span and needs to secure a win – soon. Pausing Project Freedom allows diplomacy to pick up pace, bringing US and Iran closer to a deal that Trump would label as a win.”

Is this the end of the war on Iran?

Not exactly. Akbarzadeh said pausing Project Freedom could serve as “the beginning of the end for the war”.

“We know that the Iranians are desperate for an end, so there is little chance of them resuming attacks on US Navy if Trump sends explicit signals that diplomacy has a green light,” he said.

However, he added, “The problem is that we have been here before. Earlier opportunities were squandered because Israel insisted that the US could get a better deal or because Trump misread the situation and expected the military option to grant him more concessions.”

What happens next?

It is difficult to predict this, but neither side appears to want a return to full-scale war, so both are likely to prioritise a diplomatic way out, Akbarzadeh said.

Still, “neither can afford to be seen as the loser,” he added. “They feel their public image needs to be preserved for their own respective domestic audience. This complicates negotiations and reaching a deal.”

Ozcelik said what happens next “will be determined by what the fractured leadership in Tehran commits to on the nuclear file.

“While it has rejected that talks involve curbs on Iran’s nuclear programme, this type of posturing has aimed to assuage domestic, hard-line and Iranian nationalists who are rattled by the US-Israel strikes and see nuclear issues from a nationalist, sovereign rights perspective.”

She predicted that the United Nations may soon issue a formal condemnation of Iran for unilaterally blockading the Strait of Hormuz.

“But the real pressure, mounting by the day, is the economic one – that shutting the strait is imposing punishing costs on Iran’s economic recovery prospects,” she said.

“Despite rhetoric on resilience and survival, the remaining Iranian leadership is undeniably concerned about the costs of the war. The possibility of renewed military strikes against Iranian critical infrastructure and the destabilising impacts these would inevitably have might be finally forcing Tehran’s hand,” Ozcelik concluded.

The suspension of “Project Freedom,” a U.S. operation to escort ships through the Iran-controlled Strait of Hormuz, has made it unnecessary for Seoul to review whether to participate, National Security Adviser Wi Sung-lac said Wednesday.

The national security adviser made the remarks in a meeting with reporters shortly after U.S. President Donald Trump announced that the project would be paused for a short period of time, just days after it began.

“Because the operation has been halted, (a review of whether to participate) has become not necessarily needed,” he said, adding that Seoul had planned to review the matter.

Wi said no signs have been found so far that the South Korean-operated ship, which suffered a blast and fire in the Strait of Hormuz, had sustained an attack.

A blast and fire were reported aboard the vessel, Namu, operated by major South Korean shipping firm HMM Co. on Monday while it was anchored in waters off the United Arab Emirates.

The possibility of the vessel being attacked had initially been mentioned, and Cheong Wa Dae had once taken the possibility into account, but information so far has not indicated any supporting evidence, he noted.

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May 6 (UPI) — Republican voters in Indiana and Ohio largely backed Trump-aligned candidates Tuesday in primaries seen as tests of President Donald Trump‘s influence within the GOP.

Both states held their party primaries on Tuesday to decide candidates for hundreds of races for November’s midterm elections, but most eyes were on contests for the Indiana state Senate, where incumbent Republicans had rejected Trump’s redistricting push.

Indiana

Though too late to influence Indiana’s congressional map before the midterms, Trump endorsed challengers to incumbents who had opposed his effort to redraw the map to add Republican seats.

Trump’s influence within the GOP in the Hoosier State appeared strong: Of his seven endorsed challengers against Indiana Republican state senators who opposed his gerrymandering push, five appeared poised to win outright, one seemed to have lost and another was in a tight race.

“Big night for MAGA in Indiana,” Sen. Jim Banks, R-Ind., said in a social media statement, referring to the acronym for Trump’s far-right nationalist Make American Great Again movement.

“Proud to have helped elect more conservative Republicans to the Indiana State Senate.”

Nearly 90% of all Indiana precincts were reporting as of early Wednesday, according to the Indiana Election Division, but five of the seven Trump-backed candidates had already declared victory.

Those five are Trevor De Vries, Brian Schmutzler, Blake Fiechter, Tracey Powell and Michelle Davis.

“Thank you to every Hoosier who came out to vote today,” De Vries said in a social media post late Tuesday.

“And special thanks to President @DonaldTrump for his endorsement that helped seal the deal and showed Indianapolis what real Hoosiers wanted.

“We did it, Indiana! Time to get to work.”

De Vries beat incumbent Daniel Dernulc, state senator for District 1, in a landslide. According to the unofficial results, De Vries secured 75.1% of the vote to Dernulc’s 23.3%.

Schmutzler was poised to beat state Sen. Linda Rogers in a 55.8% to 44.2% split, Fiechter over state Sen. Travis Holdman 61.5% to 38.5%, Powell’s 64.7% led state Sen. Jim Buck’s 35.3% and Davis led state Sen. Greg Walker 58.8% to 41.2%.

Trump-endorsed Paula Copenhaver also declared victory in her race against Sen. Spencer Deery despite being in a virtual tie. According to unofficial state results, she was trailing Deery by three ballots.

“After all provisional ballots are counted, we will prevail and be declared the winner of this race,” she said on X.

“I want to thank President Donald Trump for his unwavering support and endorsement. President Trump is the leader of our party, and it showed clearly tonight in his victories across the state.”

The only Trump-endorsed candidate to lose was Brenda Wilson. State Sen. Greg Goode was poised to win with 53.6% of the vote to Wilson’s 36%, according to the unofficial results.

A sixth incumbent who stood against redistricting, Sen. Rich Niemeyer, also appeared poised to lose his seat to challenger Jay Starkey, who was not endorsed by Trump.

Ohio

In Ohio, the race to watch was on the GOP gubernatorial primary.

With incumbent Republican Gov. Mike DeWine barred by term limits from running again, Ohio’s governor’s mansion will have a new occupant.

Amy Acton and her running mate David Pepper ran unopposed in the Democratic primary for governor and lieutenant governor, respectively.

Republican voters in the state nominated Trump ally Vivek Ramaswamy for governor and Robert McColley for lieutenant governor in a landslide.

According to unofficial results from the Office of Ohio Secretary of State, the Ramaswamy-McColley ticket secured 82.47% of the vote compared to the 17.53% that Casey Putsch and Kimberly Georgeton received.

“I speak for Rob and myself here: We are in this because we believe that together — with the complementary skills that we bring to the table — we are the two people in this state who can work together as a team to lead Ohio back to our true potential,” he said Tuesday night during his victory speech.

“To our greatest heights to put more money in your pocket, to bring down those costs and to give your kids the world-class education that is the birthright of every Ohioan.”

Trump had endorsed Ramaswamy for governor.

“I know Vivek well, competed against him and he is something SPECIAL,” Trump said earlier Tuesday.

“Vivek Ramaswamy will be a GREAT Governor of Ohio.”

Ramaswamy gained national attention during the 2024 GOP presidential primary, running against Trump. Instead of attacking the former New York real estate mogul, Ramaswamy aligned himself with Trump’s America First movement, often praising him.

“Thank you, Mr. President!” Ramaswamy said in response to Trump’s endorsement.

“It’s time to make Ohio greater than ever.”

US Defense Secretary Pete Hegseth says ceasefire with Iran remains in place despite growing tensions in the Strait of Hormuz.

May 5 (UPI) — Senate Republicans have released an immigration enforcement package that includes $1 billion in taxpayer money earmarked for President Donald Trump‘s massive ballroom project at the White House — a project the president has widely touted as being fully funded by private donors.

That $1 billion is to be used for security improvements to the 90,000-square-foot space, including “security adjustments and upgrades, including within the perimeter fence of the White House Compound to support enhancements by the United States Secret Service relating to the East Wing ModernizationProject, including above-ground and below-ground security features,” the bill says.

Since a shooting at the White House Correspondents’ Dinner in late April, Republicans have said the ballroom is needed for presidential security. Trump administration court filings on the plan from early April say the project will be able to withstand drone attacks and include a bomb shelter and underground medical facilities, NBC News reported.

“Congress has rightly recognized the need for these funds,” White House spokesperson Davis Ingle said in a prepared statement Tuesday. “Due in part to the recent assassination attempt on President Trump at the White House Correspondents’ Dinner, the proposal would provide the United States Secret Service with the resources they need to fully and completely harden the White House complex, in addition to the many other critical missions for the USSS.”

This $1 billion is part of a reconciliation bill that Congress plans to pass with only Republican votes, CNN reported. The full package contains about $70 billion for U.S. Immigration and Customs Enforcement and border patrol. Democrats have earlier blocked such funding without reforms, including requiring judicial warrants and banning officers from wearing masks.

Trump has long said the ballroom project, which is expected to cost $300 million to $400 million, is a gift to the nation from private donors with “not one penny” of government funds to be used, NBC News reported. The president demolished the White House’s East Wing without congressional approval for the project, a move that’s drawn ongoing legal challenges.

Last week, after the Correspondents’ Dinner incident, the Department of Justice asked a court to dismiss a lawsuit by the National Trust for Historic Preservation that challenged the ballroom plans. DOJ officials said “there is no better example of why this ballroom is necessary.”

Senate Democrats say they’ll try to force a vote to strip the $1 billion in ballroom money from the bill, which is expected to be voted on later in May.

United States Secretary of State Marco Rubio has pushed back on comments that President Donald Trump accused Pope Leo XIV of “endangering Catholics” over his stance on the Iran war, saying his early remarks had been mischaracterised.

“Well, I don’t think that’s an accurate description of what he said,” Rubio told reporters on Tuesday when asked about Trump’s comments that the pope was “endangering a lot of Catholics”.

Rubio said the president’s concern was rooted in the threat Iran could pose to “places that have a lot of Catholics and Christians and others”, and questioned why “anyone would think that it’s a good idea for Iran to ever have a nuclear weapon”.

He also pointed to rising tensions in the Strait of Hormuz, accusing Tehran of “holding the whole world hostage” and endangering commercial shipping.

Trump had earlier criticised the pope in remarks to right-wing radio host Hugh Hewitt, suggesting the pontiff was too soft on Tehran.

“The pope would rather talk about the fact that it’s OK for Iran to have a nuclear weapon, and I don’t think that’s very good,” Trump said.

“I think he’s endangering a lot of Catholics and a lot of people. But I guess if it’s up to the pope, he thinks it’s just fine for Iran to have a nuclear weapon,” he added.

The exchange comes in advance of a meeting between Rubio and Pope Leo XIV at the Vatican on Thursday, which the US ambassador to the Holy See said is expected to be “frank”, underscoring tensions between Washington and the Catholic Church.

“Nations have disagreements, and one way to work through them is through dialogue,” Ambassador Brian Burch said on Tuesday.

“I think the secretary is coming here in that spirit, to have a frank conversation about US policy and engage in dialogue,” he added.

The pope has not said Iran should have nuclear weapons, but has opposed the war, which Trump says is aimed at stopping Tehran’s nuclear programme.

War of words between Trump and Pope Leo

Strains between Trump and Pope Leo began in March after the pontiff spoke out against the war in Iran and criticised the use of Christian rhetoric to justify military action.

The dispute escalated in April when Trump attacked the pope on social media, calling him “weak on crime” and accusing him of aligning with the “radical left”.

Pope Leo later responded during a trip to Algeria, saying he was not afraid and would keep speaking out against the war.

“I will continue to speak out loudly against war, looking to promote ⁠peace, promoting dialogue and multilateral relationships among the states ⁠to look for just ⁠solutions to problems,” he said, speaking in English.

“Too many people are suffering in the world today. Too many innocent people are being killed. And I think someone has to ‌stand ‌up and say there’s a better way.”

Cardinal Pietro Parolin, the Vatican’s top diplomat, said he did not know if Leo would respond to Trump’s latest comments.

“The pope will go ahead on his path, in the sense of preaching ‌the Gospel [and] ⁠peace,” Parolin, the Vatican’s secretary of state, told journalists. He said Leo would speak about peace at every opportunity, “convenient and inconvenient”.

Rubio is also set to meet on Friday with ⁠Italian Prime Minister Giorgia Meloni, who defended the pope, while her defence minister has said the war in Iran puts US leadership at risk.

The pope has also criticised the Trump administration’s hardline immigration policies and called for dialogue between the United States and Cuba, which has faced frequent blackouts linked to US sanctions.

US President Donald Trump said Iran should ‘wave the white flag of surrender’ in the war, and accused Iran’s leaders of playing games in negotiations. He also said higher oil prices are a ‘small price to pay’ to keep Iran from having a nuclear weapon.

ATLANTA — The Department of Justice is seeking the names of every person who worked in the 2020 election in Georgia’s Fulton County, a Democratic stronghold that Donald Trump has long accused of widespread voter fraud he falsely says cost him victory against Joe Biden in the state that year.

Lawyers for the county filed a motion on Monday night to quash a grand jury subpoena that asks for the names and personal contact information of county employees and volunteer poll workers. This latest action comes after the FBI in January went to a Fulton County elections warehouse and seized ballots and other documents from the 2020 election, which Georgia’s certified totals showed Trump lost in the state to Biden by 11,779 votes out of nearly 5 million cast. Trump, a Republican, still insists the election was stolen from him even though judges and his own attorney general concluded otherwise.

Monday’s court filing says the subpoena is meant to “target, harass and punish the President’s perceived political opponents.” The request is “grossly overbroad and untethered to any reasonable need,” the county’s lawyers argue. It “cannot yield any evidence that could result in a criminal prosecution,” they wrote, arguing that the statute of limitations on any federal crime related to the 2020 election has already expired.

The Justice Department did not immediately respond to an email seeking comment Tuesday.

County Board of Commissioners Chairman Robb Pitts, in an emailed statement, called the subpoena “yet another act of outrageous federal overreach designed to intimidate and chill participation in elections.”

“Let me be crystal clear. Fulton County will not be intimidated,” said Pitts, a Democrat who’s running for reelection.

Since the 2020 election, Trump “has obsessively propagated the debunked conspiracy theory that Fulton County ‘stole’ the 2020 election from him,” the county’s lawyers wrote. “And he has made it clear that he seeks retribution against those who refuse to indulge his baseless claims.”

Trump has already targeted individual poll workers like Ruby Freeman, who was attacked by him and his supporters after the election. Freeman, who’s Black, has said she was forced to flee her home after false claims of election fraud against her led to racist threats and strangers showing up at her home.

The grand jury subpoena, dated April 17, was served on the county’s director of elections on April 20, the county’s court filing says. It seeks the “name, position/function, residential and email addresses, and personal telephone number(s)” for thousands of election workers “ranging from county employees who assisted on election day, to bus drivers who operated a mobile voting location, to volunteers and temporary poll workers,” the filing says.

The subpoena “is a chilling escalation in the campaign to terrorize Fulton County election workers,” the county’s lawyers wrote, adding that threats arising from the current political environment have caused election workers to “fear for their physical safety.” That and other stresses “including the likelihood of being scapegoated by public officials” are causing election workers to leave their jobs “in unprecedented numbers,” they wrote.

The county’s lawyers note that the subpoena directs the county to provide the records not to the grand jury but to an out-of-state Justice Department lawyer or to the FBI agent who wrote the affidavit used for the seizure of the county’s 2020 ballots in January.

The January seizure of the ballots and other records from Fulton County was one in a string of moves by Trump’s administration to obtain past election records from critical swing states. The FBI in March used a subpoena to get records related to an audit of the 2020 presidential election in Maricopa County in Arizona. And the Justice Department in April demanded that Michigan’s Wayne County turn over its ballots from the 2024 election, which Trump won against Biden’s vice president, Kamala Harris.

The Justice Department is also fighting numerous states in court for access to voter data that includes sensitive personal information. Election officials, including some Republicans, have said handing over the information would violate state and federal privacy laws.

Brumback writes for the Associated Press.

Caracas, May 5, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez called US President Donald Trump a “man of action” and reiterated her commitment to long-term relations with Washington during a ceremony at Miraflores Palace on May 1.

Rodríguez received a delegation of US officials and business executives led by Jarrod Agen, executive director of the Trump administration’s National Energy Dominance Council.

“Please tell President Trump, who is a man of action, that in Venezuela there are men and women of action, but also of their word,” she told the US guests during a televised broadcast. “And we have made a commitment to build solid, long-term relations between the US and Venezuela.”

For his part, Agen first referred to Trump as a “man of action” and claimed that US-Venezuela relations are currently moving at “Trump speed” and that the White House is looking to promote oil, gas, and mining investments in the Caribbean nation.

The public statements followed the signing of contracts with Overseas Oil Company and Crossover Energy Holding for oil and gas projects in Anzoátegui, Barinas, and Monagas states, with investments of up to US $2 billion planned. Venezuelan authorities provided no details about the ventures, with Rodríguez only stating that the natural gas output would be used to strengthen the country’s electricity generation.

According to Argus Media, the two corporations will “work with” Venezuelan state oil company PDVSA on extra-heavy crude projects in the Orinoco Oil Belt. Venezuela’s recent pro-business overhaul of the Hydrocarbon Law allows PDVSA to lease out projects in exchange for a portion of the output.

While Crossover Energy does not have a track record of any past energy initiatives, Overseas Oil is a subsidiary of Hunt Oil, a 90-year-old company founded by Texas magnate H.L. Hunt. Hunt Oil previously used its close ties to the George W. Bush administration to secure oil contracts in Iraqi Kurdistan following the 2003 US invasion.

The latest oil agreements follow major energy deals struck by Chevron, Eni, Repsol, and Shell under the favorable conditions of the reformed Hydrocarbon Law, which include expanded control over operations and sales as well as reduced taxes and royalties.

On May 1, the acting Rodríguez administration also signed a memorandum of understanding in the mining sector with the US’ Heeney Capital and Switzerland’s Mercuria Energy Group.

In a statement, Mercuria, one of the world’s largest commodity traders with a history of involvement in international mining projects, explained that it had entered into “a series of strategic offtake agreements” to purchase around $2.2 billion a year of Venezuelan bulk commodities and gold. 

“The transactions align with ongoing efforts by US authorities to encourage responsible foreign investment in Venezuela’s extractive industries and to facilitate offtake structures that prioritize supply to Western markets,” the communiqué read.

Mercuria and Heeney likewise expressed interest in aluminum, nickel, and ferrous products “opportunities” that could represent a further $3 billion in annual exports.

Heeney co-founder and partner Sean Pi, who signed the agreement on behalf of the foreign companies, thanked Trump for his “leadership” in defending US access to critical minerals. Pi testified before the US House of Representatives in February to back legislative initiatives deregulating and streamlining mining projects to bolster the US supply of critical minerals.

Venezuelan Mining Minister Héctor Silva hailed the deal a “first step for the strengthening of mining ties between the US and Venezuela.” The Venezuelan National Assembly recently approved a new Mining Law that establishes incentives for Western conglomerates to exploit the South American country’s vast mineral resources.

The US delegation for the energy and mining deals with Caracas arrived on board the first direct flight between the US and Venezuela. American Airlines will hold a daily Miami-Caracas connection and will add a second one beginning on May 21 due to high demand.

US Chargé d’Affaires in Venezuela John Barrett held a ribbon-cutting ceremony alongside Venezuelan Transport Minister Jacqueline Faría to mark the resumption of the direct flights. 

Addressing reporters, Barrett stated that the reestablished air connection was a “milestone” and a “clear sign that Venezuela is open for business.”

Caracas and Washington fast-tracked a diplomatic rapprochement in the wake of the January 3 US military strikes and kidnapping of President Nicolás Maduro. Acting President Rodríguez has hosted several White House officials and touted investment opportunities for US corporations. For its part the Trump administration has issued sanctions waivers allowing select Western companies to participate in the Venezuelan energy and mining sectors but imposing control over Venezuelan export revenues.

Edited by Lucas Koerner in Caracas.

May 5 (UPI) — Iran warned Tuesday that it was “just getting started” after its military clashed with U.S. forces attempting to guide commercial vessels marooned in the Persian Gulf out through the Strait of Hormuz.

Mohammad Ghalibaf, Speaker of the Iranian Parliament, signaling Iran’s intention to exploit the United States’ need for a timely resolution to the conflict, said Iran was digging in for an extended fight that it was prepared to keep going for as long as necessary.

“The new equation in the Strait of Hormuz is being solidified. Shipping security and energy transit have been jeopardized by the U.S. and its allies with the cease-fire violations and blockade. However, their evil acts will fail. We know well that the continuation of the status quo is intolerable for America, while we are just getting started,” said Ghalibaf.

Speaking at a news briefing at the Pentagon on Tuesday morning, U.S. Defense Secretary Pete Hegseth appeared to try to de-escalate the situation, stressing that the mission to free trapped merchant ships was a short-term, defensive operation purely aimed at providing protection for the hundreds of vessels he said “are lining up to transit.”

“Project Freedom is defensive in nature, focused in scope and temporary in duration, with one mission, protecting innocent commercial shipping from Iranian aggression. American forces won’t need to enter Iranian waters or airspace. It’s not necessary. We’re not looking for a fight,” he said.

However, echoing threats made by U.S. President Donald Trump on Monday night, Hegseth said that Iran “will face overwhelming firepower” if it attacks commercial shipping and that he expected other countries to “step up” to protect the strategically important sea lane “at the appropriate time.”

Day one of Trump’s Project Freedom on Monday saw Iran claim it fired on U.S. naval vessels approaching the strait, forcing one to turn around, while Trump said U.S. forces sank seven Iranian navy “fast boats,” prompting Iranian Foreign Minister Abbas Araghchi to dub the effort “Project Deadlock,” warning that the conflict could only be resolved through compromise.

The UAE also said it was targeted with Iranian missiles and drones for the first time since a cease-fire came into force April 9, blaming the attacks for a fire in its Fujairah Oil Industry Zone in which three people were injured.

“Events in Hormuz make clear that there’s no military solution to a political crisis. As talks are making progress with Pakistan’s gracious effort, the U.S. should be wary of being dragged back into a quagmire by ill-wishers. So should the UAE,” said Araghchi.

The comments came hours after Trump threatened to blow Iran “off the face of the Earth’ if it attacked U.S. vessels involved in Project Freedom.

U.S. Central Command said no U.S. Navy ships had taken fire while Iran rejected as “outright lies,” claims by CENTCOM that two U.S.-flagged merchant vessels “successfully transited through the Strait of Hormuz and are safely headed on their journey.”

The presidential office said Tuesday it will likely take several days to determine the cause of an explosion and fire aboard a Panama-flagged bulk carrier operated by South Korea’s HMM Co. in the Strait of Hormuz.

Presidential spokesperson Kang Yu-jung made the remarks in a written briefing after senior presidential officials, including presidential chief of staff Kang Hoon-sik, held a meeting to discuss the response to the fire.

“It is expected to take several days to analyze the cause,” the spokesperson said. “The government will brief the public transparently after swiftly and accurately determining the cause of the incident.”

The spokesperson said the vessel will be towed to a nearby port using a tugboat for investigation, with investigators from the Korea Maritime Safety Tribunal and the National Fire Agency to be dispatched.

The explosion occurred at about 8:40 p.m. Monday (Korean time), while the HMM Namu was anchored in waters off the United Arab Emirates (UAE), HMM said. The fire began in the engine room, and crew members used carbon dioxide to fight the blaze for about four hours. No injuries were reported, the company said Tuesday.

HMM said security camera footage showed the fire had been put out and said it would later inspect the engine room to assess the damage.

The freighter had 24 crew members on board — six South Koreans and 18 foreign nationals.

The cause of the explosion and fire, as well as the extent of the damage, is currently under investigation.

“It remains unclear whether the incident was caused by an external attack or an internal malfunction,” an HMM official said.

HMM said it plans to tow the freighter to Dubai, a process expected to take several days.

The spokesperson said South Korea is sharing relevant information with the United States, Iran and members of the Gulf Cooperation Council, including Saudi Arabia and the UAE.

She said the oceans ministry and the Cheonghae naval unit operating in the Gulf of Aden are in communication with the HMM Namu, adding the government is in daily contact with the 26 South Korean ships anchored in the strait.

In Washington, U.S. President Donald Trump said Monday that Iran has taken shots at a South Korean cargo ship and other targets as he called on Seoul to participate in a mission to reopen the crucial Strait of Hormuz.

The presidential office separately said it is reviewing Trump’s proposal by considering the readiness posture on the Korean Peninsula and domestic legal procedures.

“(We) are actively taking part in multiple international efforts for the swift stabilization, recovery and normalization of the global maritime logistics network.” it said. “In this context, (we) are paying attention to President Trump’s remarks.”

Industry officials said South Korean-operated ships in waters off the UAE were moving toward Qatar in line with government measures to steer clear of the Strait of Hormuz for safety.

The incident came after the U.S. launched an operation, called Project Freedom, this week to guide commercial vessels stranded by the U.S.-Israeli war against Iran out of the waterway.

HMM operates five vessels in the Strait of Hormuz, including one container ship and two oil tankers.

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May 4 (UPI) — The U.S. Secret Service shot a man near the Washington Monument on Monday after spotting a person with a gun nearby and called for backup.

An ensuing shootout with the man while he tried to run resulted in a child near the monument being injured before the suspect was also shot, and both have been hospitalized, NBC Washington, Fox 5 DC and Politico reported.

The incident comes just over a week since a man rushed security at the White House Correspondents Association Dinner in Washington, D.C., in an alleged attempt to assassinate President Donald Trump and other members of the administration that were in attendance.

The suspect had been under surveillance for some time before he was approached based on officers observing what they termed a “suspicious” person.

“Whether or not it was directed to the president or not, I don’t know, but we will find out,” said Matthew Quinn, deputy director of the secret service, adding that the agency is patrolling the area — the monument is about half-a-mile from the White House — “24/7, hard core” after recent events.

Law enforment officials were patrolling near the monument, down the street from the White House, when they observed the person and approached.

The suspect pulled out a gun and fired toward them, resulting in an exchange of gunfire, which resulted in both the suspect and a nearby child.

The child suffered a graze would to his lower body, was taken to an ambulance and was treated for non-life-threatening injuries, Quinn told reporters.

Streets were blocked off after the incident and members of the White House Press Pool were evacuated from the area during the incident, which occurred as Trump was holding a small business event inside the White House and reportedly was not aware of what happened.

The U.S. Secret Service and the Metropolitan Police Department both said that their investigations are ongoing.

Iran claims its navy forced a US warship to turn back from the Strait of Hormuz as Washington denies any clash, amid rising tensions in the key waterway. The rival narratives come after US President Donald Trump announced Project Freedom, a mission he framed as a humanitarian effort to “free” stranded ships.

May 4 (UPI) — U.S. Secretary of State Marco Rubio is scheduled to meet this week with Pope Leo XIV in Italy, with planned topics including the Middle East and Cuba.

The State Department announced Monday that Rubio will meet this week with Leo, and an official Vatican calendar notice confirmed the meeting will take place Thursday.

The Washington Post quoted the announcement as saying Rubio, a prominent Catholic in President Donald Trump‘s administration, will “discuss the situation in the Middle East and mutual interests in the Western Hemisphere.”

A USA Today report indicated Rubio and Leo are also expected to discuss Cuba, which has been subject to a U.S. oil embargo and other measures in an attempt to force the smaller country into an economic deal.

The meeting will be the first time a high-ranking administration official has met with the pope since Trump took to social media last month to brand Leo “weak on crime” and “terrible for foreign policy.”

“He wasn’t on any list to be Pope, and was only put there by the Church because he was an American, and they thought that would be the best way to deal with President Donald J. Trump,” Trump wrote in April. “If I wasn’t in the White House, Leo wouldn’t be in the Vatican.”

Rubio and Vice President JD Vance previously met with Leo during a private audience at the Vatican in May 2025, one day after the pope’s Inauguration Mass.

Published on
04/05/2026 – 14:17 GMT+2

The EU Trade Commissioner Maroš Šefčovič is scheduled to meet his US counterpart Jamieson Greer on Tuesday amid rising tensions between the bloc and the US following President Donald Trump’s announcement of a potential 25% tariff on EU automobiles.

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The discussions, scheduled ahead of a G7 trade ministers’ meeting in Paris, were planned before President Trump’s latest tariff threat, Euronews has learned.

But they now give both sides an opportunity to ease tensions after Trump signalled measures that would breach the EU-US trade deal agreed last summer in Turnberry, Scotland, between Trump and Commission President Ursula von der Leyen, which caps US tariffs on EU goods at 15%.

On Monday, the Commission sought to project a sense of calm.

“It’s not the first time we have seen threats,” Commission spokesperson Thomas Regnier said, adding: “We remain very calm, focused on enforcing the joint statement in the interests of our companies, of our citizens.”

Trump’s threat came after German Chancellor Friedrich Merz criticised the US approach to the war in Iran, and after Washington announced the withdrawal of 5,000 US troops from Germany, further straining transatlantic relations.

German MEP Bernd Lange (S&D), chair of the European Parliament’s trade committee, told Euronews on Monday that Trump’s threats were aimed specifically at German car manufacturers.

“All options remain open”

The US president also accused the EU of moving too slowly to implement the agreement.

“Since day one we are implementing the Joint Statement [the EU-US deal] and we are fully committed to delivering on our shared commitments,” Regnier said, adding that the EU was seeking predictability in the EU-US trade relation.

The Turnberry deal is currently being negotiated between EU governments and lawmakers before it can enter into force on the EU side. Co-legislators must still agree on the modalities for cutting EU tariffs on US goods to zero, as outlined in the agreement.

MEPs have nonetheless introduced safeguards to ensure the EU is not the only party adhering to its commitments and to protect the bloc from future US threats.

The Commission reiterated Monday that if the US takes measures that are “inconsistent” with the trade deal, all “options” remain open.

Last year, during the trade dispute that followed Trump’s return to power, the EU executive prepared a package targeting €95 billion worth of US products, though the measures were later suspended.

At the time, several EU countries also urged the use of the bloc’s anti-coercion instrument, which enables the EU to respond to economic pressure from third countries with a wide range of trade defence tools, including restrictions on licences and intellectual property rights.

May 4 (UPI) — The Iranian military threatened Monday to attack U.S. forces if they attempt to implement U.S. President Donald Trump‘s “Project Freedom” to bring ships trapped in the Persian Gulf out through the Strait of Hormuz.

In a statement carried by state-run broadcaster IRIB, the commander of Khatam al-Anbiya Central Headquarters, the Iranian military’s central command, warned the Americans not to approach the strait and that no vessels would be permitted to transit safely without Iran’s permission.

The statement also appeared to threaten Iran’s neighbors in the Gulf and other allies of the United States.

“Do not approach the Strait of Hormuz. Any foreign armed force, especially the aggressive American army, will be attacked if they intend to approach and enter the Strait of Hormuz. Supporters of the evil America should be careful and not do anything that will lead to irreparable regret, because America’s aggressive action to disrupt the current situation will have no result other than complicating the situation and jeopardizing the security of vessels in this area,” said central command chief, Maj. Gen. Ali Abdullahi.

“In any circumstances, any safe passage through this strait will be carried out in coordination with the Armed Forces,” added Abdullahi.

The warning came hours after Trump announced plans to use U.S. military assets deployed in the region, including guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms and 15,000 marines, to “guide” ships and crews “safely out of the Strait.”

U.S. Central Command confirmed in a news release posted on X that the operation to restore freedom of navigation for all commercial shipping, with the exception of vessels servicing Iran, would get underway on Monday.

“The mission, directed by the president, will support merchant vessels seeking to freely transit through the essential international trade corridor. A quarter of the world’s oil trade at sea and significant volumes of fuel and fertilizer products are transported through the strait. Our support for this defensive mission is essential to regional security and the global economy as we also maintain the naval blockade,” said U.S. CENTCOM Commander Adm. Brad Cooper.

The developments came as two ships, an oil tanker and a bulk carrier, were attacked near the strait on Sunday.

However, it was unclear how effective the operation might be with Copenhagen-headquartered BIMCO, the world’s largest international shipping association, with more than 2,000 members across 130 countries, telling the BBC that while much depended on the “risk appetite” of individual ship owners, it couldn’t see how an evacuation could work without agreement from Iran.

As many as 20,000 merchant sailors are languishing aboard 2,000 commercial ships marooned in the Persian Gulf by Iran’s effective closure of the Hormuz Strait, according to the U.N.’s International Maritime Organization, which Friday adopted a resolution condemning attacks on shipping that “threaten the welfare of seafarers, represented a grave danger to life and posed a serious risk to the marine environment.”

South Korean stocks shot up by more than 5 percent to close at a fresh high Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in U.S.-Iran peace talks. The Korean won rose sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 338.12 points, or 5.12 percent, to a fresh record high of 6,936.99.

Trade volume was heavy at 864.3 million shares worth 41.3 trillion won (US$28.2 billion), with losers outnumbering winners 473 to 392.

Foreigners bought 3 trillion won worth of local shares, and institutions purchased a net 1.9 trillion won, while retail investors dumped a net 4.8 trillion won.

The index opened 2.79 percent higher after U.S. President Donald Trump announced a plan to guide ships not involved in the Iran conflict through the Strait of Hormuz as a “humanitarian gesture” starting this week.

Later, a senior Iranian official warned that Tehran would consider any U.S. interference in the strait a ceasefire breach.

However, the KOSPI extended its gains in the afternoon, supported by foreign and institutional buying.

“Tech shares were driven by gains on Wall Street over the weekend,” Lee Kyung-min, an analyst at Daishin Securities, said. “Also, foreign investors expanded their net purchase ahead of the market closure for Children’s Day on Tuesday.”

The main index surpassed the 5,000-point mark in late January and topped another milestone of the 6,000-point level in February.

After recouping its losses in March following the outbreak of the U.S.-Iran war in late February, the KOSPI is now approaching the uncharted 7,000-point level on continued optimism over the AI boom and hopes for the reopening of the key waterway.

Semiconductor stocks led the rally.

Chip giant Samsung Electronics jumped 5.44 percent to 232,500 won, and its chipmaking rival SK hynix surged 12.52 percent to a fresh record high of 1.4 million won, surpassing 10 trillion won in market capitalization for the first time.

Hanmi Semiconductor, a chip equipment manufacturer, rose 2.72 percent to 378,000 won, and Samsung Electro-Mechanics, an electronic components affiliate of Samsung Electronics Co., soared 10.34 percent to 918,000 won.

Defense shares were also strong as industry leader Hanwha Aerospace advanced 3.39 percent to 1.4 million won and LIG D&A gained 4.46 percent to 983,000 won.

Top carmaker Hyundai Motor climbed 1.51 percent to 539,000 won, and leading battery maker LG Energy Solution increased 2.5 percent to 472,000 won.

However, bio shares went south as Celltrion fell 1.35 percent to 197,800 won, and Samsung Biologics dropped 2.58 percent to 1.4 million won.

The Korean won was quoted at 1,462.8 won against the U.S. dollar at 3:30 p.m., up 20.5 won from the previous session.

The quotation marks the highest since February 27, when the currency closed at 1,439.7 to the greenback.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 2 basis points to 3.615 percent, while the return on the benchmark five-year government bonds gained 1.7 basis points to 3.797 percent.

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