Iranian

President Trump says damages will be paid for by Iranian money that the US has ‘in its possession, and controls’.

United States President Donald Trump has pledged to use frozen Iranian assets to pay for any damage to ships and cargo in the Strait of Hormuz, garnering strong condemnation from Tehran.

Tensions between Iran and the US have escalated since the beginning of July as the two sides trade attacks and Tehran targets US military bases in the region.

Washington completed its 13th consecutive night of strikes on Iran late on Thursday, with Trump saying he is considering a “massive attack” on the country, “bigger than ever before”.

Writing on his Truth Social platform on Thursday, Trump said that damages would be paid for by “Iranian Money that the United States has in its possession, and controls”.

“These damages may be very substantial but, nevertheless, this is the fair and equitable thing to do,” Trump added.

Iranian Foreign Minister Abbas Araghchi condemned Trump’s comments and said in a post on X on Friday morning that seizing another country’s assets to “pay for unrelated future claims is an incendiary precedent”.

“Those who celebrate or profit from such funds should remember: once governments normalise confiscation, no one’s assets are safe. Ensuing chaos will not be pretty or peaceful,” he added.

The case of Iran’s frozen assets has been an issue that the two sides had been discussing in the now-collapsed memorandum of understanding (MoU) agreement that was signed between Tehran and Washington in June as a pathway to end the war.

But the US and other governments have “frozen” Iranian assets for decades.

While the exact amount of frozen money belonging to Iran is not known, some estimates put it at about $100bn.

Washington first froze Iranian funds in 1979 after US citizens were taken hostage at the US embassy in Tehran.

At the same time, Trump pledged “major military punishment” for Iran and its Houthi allies on Thursday after the Yemeni fighters struck two Saudi oil tankers in the Red Sea.

But on Friday morning, the Iranian army announced in a statement carried by the state Mehr News Agency that it had launched a new wave of drone attacks on US military installations in Bahrain and Jordan.

Moreover, ship tracking data seen by the Reuters news agency found that the number of tankers crossing the Strait of Hormuz fell to just one on Thursday, the lowest level since May 7.

After U.S. strikes on Iran’s largest nuclear facilities last year, both President Trump and the White House were adamant that the Middle East nation’s nuclear program had been destroyed.

“Monumental Damage was done to all Nuclear sites in Iran, as shown by satellite images. Obliteration is an accurate term!” Trump wrote on social media.

“Iran’s Nuclear Facilities Have Been Obliterated — and Suggestions Otherwise are Fake News,” the White House wrote in a press release.

A year later, the U.S. and Iran are five months into a war Trump said would be over in weeks. Iran has gained leverage by seizing control of the Strait of Hormuz, a vital energy corridor, and the U.S. has been forced to the negotiating table as global gas prices have spiked — including again this week after a ceasefire agreement collapsed.

And Trump — facing mounting criticism that he has pushed the U.S. into another “forever war” despite campaigning on doing exactly the opposite — is leaning back into the notion that Iran presents an unacceptable nuclear threat and strikes are needed, namely at another Iranian nuclear facility known as Pickaxe Mountain.

“Pickaxe is a possible target for a nice big fat shot right near the front door,” the president recently said on “The Hugh Hewitt Show.” “We’re going to take out Pickaxe Mountain. Tell the Iranians to be ready.”

Pickaxe, a heavily fortified facility deep underground that would be difficult to penetrate even with powerful “bunker buster” bombs, was not targeted during last year’s 12 Day War between Iran and the U.S. and Israel, nor in the full-scale war of the last five months.

However, it is less than two miles from Natanz, one of Iran’s primary nuclear enrichment facilities, which was struck both last year and this year. On Monday, the Wall Street Journal reported that Israeli intelligence believes Iran moved thousands of uranium-enrichment centrifuges into Pickaxe last fall — bolstering its ability to reconstitute a nuclear program that threatens the U.S. and regional allies.

Trump’s sudden focus on Pickaxe as a suspected hub of Iranian nuclear activity, which comes as his administration is trying to justify its continued entanglement in its unpopular war there, is an acknowledgment that two prior military campaigns and years of attempted diplomacy by his administration have failed to curb Iran’s nuclear ambitions.

Few experts ever bought into the Trump administration’s claims that Iran’s nuclear program had been completely destroyed, and even Trump and his closest allies have walked some of those comments back — including in discussions about Iran’s ability to retrieve and repurpose enriched material buried at Natanz and other targeted sites.

Some experts have cited construction activity around Pickaxe as evidence Iran is continuing to develop the facility in violation of recent agreements with the U.S., but have said the exact nature of the work isn’t known. They’ve also wondered if the Trump administration intends to use the work there to lay the groundwork for a broader, boots-on-the-ground war effort that would be unpopular in the U.S. but necessary to truly accomplish Trump’s stated goal of ending Iran’s nuclear program for good.

The Institute for Science and International Security, a Washington-based think tank, said last week that it wasn’t clear “if Iran still plans on installing a large-scale assembly facility” at Pickaxe Mountain “given the destruction of Iran’s centrifuge program,” but “if Iran starts to rebuild its centrifuge manufacturing capability, it could plan to install a smaller centrifuge assembly facility in Pickaxe Mountain able to serve a nuclear weapons program.”

The space under the mountain, the institute said, may be “large enough to also hold a centrifuge enrichment plant capable of producing weapon-grade uranium” and is “likely large enough to also hold certain nuclear weaponization activities such as making weapon-grade uranium metal and shaping it into nuclear weapon components.”

Retired Army Gen. Joseph Votel, the former head of U.S. Central Command, told The Times that Iran has had a substantial amount of time to relocate equipment since the bombings of last year and has “demonstrated that they are savvy on these kinds of things,” and the U.S. “should be serious about it and try to confirm the intelligence.”

And “if there have been centrifuges that have been moved there and are underground and spinning and developing nuclear bomb grade materials,” he said, “we should be very, very concerned about that.”

Benjamin Radd, a political scientist and senior fellow at the UCLA Burkle Center for International Relations, said it is true that Iran is continuing its enrichment program in clandestine ways that present an ongoing threat and that “the war is not going the way the president wanted.” He also said Iran’s activity around Pickaxe helps Trump justify the war — and its possible expansion.

Radd said Iran has used the war to block independent inspections of its nuclear facilities by the International Atomic Energy Agency and reconstituted some of its nuclear capabilities in the process, including as talks with the U.S. shifted from its nuclear program to the Strait of Hormuz.

Trump and the U.S., meanwhile, have “vacillated” between trying to “manage” the Iranian nuclear program by reining in enrichment, to trying to “neutralize” the program with targeted attacks on its nuclear infrastructure. Radd said that “even though his rhetoric is there,” Trump hasn’t had “the resolve or the ability or the mandate” to move to fully eliminate Iran’s nuclear program, because that would require “much more forceful intervention” than the American public is willing to accept, such as U.S. troops on the ground in Iran.

He said he wonders now if the president’s talk about Pickaxe is part of a shift in that direction — or at least threatening it — after Trump and his advisors realized that the current cycle of war, negotiations and then more war is giving Iran the time it needs to reconstitute its nuclear program.

“I’m wondering if that is just a threat, or if it’s a genuine option that the president is actually considering,” Radd said.

Under Senate questioning Tuesday, Defense Secretary Pete Hegseth declined to say whether American bombs were capable of destroying whatever is under Pickaxe Mountain.

Two U.S. troops were killed in action and one remains missing in Jordan on Friday while defending against Iranian ballistic missile and drone attacks, U.S. Central Command announced on X. Another “four American service members were medically evacuated to Jordanian hospitals. They have since been discharged. Other personnel who were evaluated for minor injuries have returned to duty.”

“Out of respect for the families, CENTCOM is withholding additional information, including the identities of the fallen warriors, until 24 hours after the next of kin have been notified,” the command added.

CENTCOM did not say where in Jordan, however, yesterday, CBS News reported that “Iran attacked at least two Jordanian bases this week, resulting in several American service members being injured in the attack after their facility was struck.”

We noted yesterday that data from NASA’s Fire Information for Resource Management System (FIRMS) at 10:59 PM EDT indicated a fire adjacent to the runway near an area where aircraft are parked at Muwaffaq Salti Air Base in Jordan. However, TWZ cannot independently verify what happened at the base and if any equipment was destroyed or damaged and how personnel there were affected. We’ve reached out to CENTCOM for answers.

We reached out to CENTCOM for confirmation.

Video emerged on social media purporting to show attacks on the base.

Muwaffaq Salti, as we have frequently reported, has come under attack numerous times. In March, CNN obtained imagery from Planet Labs showing an AN/TPY-2 radar damaged, or even possibly destroyed, following an Iranian attack there.

The air base has long been a major regional hub for U.S. operations, and is being very actively utilized in the current conflict. It hosts the greatest concentration of U.S. tactical aircraft in the region, and thus is an extremely important target, where, as we pointed out last night, even one ballistic missile landing on an apron could destroy multiple prized aircraft and take the lives of U.S. service members or cause injuries.

Iran also hit Prince Sultan Air Base in Saudi Arabia yesterday, Axios reporter Barak Ravid stated on X.

In addition, officials in Kuwait yesterday said one of the country’s power and water desalination plants “was attacked as a result of the Iranian aggression…leading to a fire and damage to the plant’s facilities and several electricity generating units.”

“The fire is now under control and repairs are ongoing,” the Kuwait government added.

The two deaths and the injuries came as the conflict between the U.S. and Iran is escalating rapidly, with each side now attacking critical infrastructure and Iran intensifying strikes on U.S. bases across the region.

Amid the fighting, “Iranian Deputy Foreign Minister for Legal and International Affairs Kazem Qaribabadi stated that Tehran has suspended its commitments under the Islamabad Memorandum of Understanding (MoU) signed with Washington as United States attacks continue,” the official Fars News Agency reported.

July 17 (UPI) — A 39-year-old man was due in court in London on Friday accused of breaching national security law by assisting Iran’s intelligence service.

Counter-terrorism police charged Vahid Aberi, of Liverpool, with aiding the intelligence service of another country under the 2023 National Security Act after arresting him in Birmingham on Wednesday following an investigation, the Met said in a news release.

Commander Helen Flanagan, Head of Counter Terrorism Policing London, said that while authorities were seeing “a significant and sustained increase” in cases involving national security, there was no threat to the public in this specific instance.

“We have seen a significant and sustained increase in the tempo of our work in national security investigations in recent years. This case is yet another example of where we’ve intervened to disrupt suspected activity linked to foreign intelligence services,” Flanagan said.

“While we can’t comment in detail around the allegations now that a man has been charged, I do want to reassure the public that we have not identified any direct threat to them nor any threat towards a community or individual in connection with this investigation,” she added.

Aberi was held at a West Midlands police station while police carried out raids at addresses in the Birmingham and Liverpool areas. Charges were authorized by the Crown Prosecution Service ahead of his appearance at Westminster Magistrates Court.

The case comes two weeks after a judge at the Old Bailey sentenced two Romanian nationals to 12 and eight years in prison for a knife attack on Iranian independent TV journalist Pouria Zeraati in London in 2024 carried out on behalf of the Iranian state.

Nandito Badea, 21, and George Stana, 25, who were arrested in Romania along with a third suspect, were extradited to Britain to face prosecution.

Following their sentencing, the Foreign Office summoned Iran’s charge d’affairs to demand Tehran immediately cease its attempts “to undermine U.K. sovereignty and security.”

On Monday, the government designated Iran’s Islamic Revolutionary Guard Corps and the Islamic Movement of Companions of the Right as national security threats with anyone convicted of supporting the groups facing up to 14 years in prison.

The IMCR has claimed responsibility for seven attacks linked to Jewish and Israeli communities in Britain, including a March 23 arson attack on Jewish volunteer ambulances in Golders Green in north London.

In March, counter-terrorism police in London arrested four Iranian men on suspicion of conducting surveillance on behalf of Iranian intelligence on Jewish-community-linked individuals and locations in the capital.

Tehran launched strikes against several countries across the Gulf and wider region overnight as the United States military raised its attacks on Iran.

Reports on Friday morning said that Bahrain, Iraq, Kuwait, Oman and Qatar, as well as Jordan and Syria, had been forced to take defensive action against Iranian missiles and drones, amid a sixth night of US strikes on Iran.

The escalating US air campaign targeted civilian infrastructure in the south of the country, including telecommunications networks, railway systems, and the Bandar-e Khamir bridge in Hormozgan province, where local media reported on Thursday night that at least seven people were killed.

Tehran has justified its strikes against Gulf and other states by saying it is targeting US facilities in the region, insisting that Washington has used its bases there as launchpads to strike Iran.

In Qatar, which hosts major US military facilities, the security threat level was elevated as loud explosions were heard across parts of the capital, Doha, early on Friday morning.

Warning sirens sounded as residents received security alerts on their mobile phones. Qatar’s security threat level was raised again after the initial alert, but the situation later returned to “normal” after the threats were cleared.

The Qatari Ministry of Interior confirmed on Friday morning that a child who was injured by falling shrapnel during the assault is now receiving medical care. Earlier, Qatar rejected Israeli reports that it was planning to join military action against Iran.

Iran’s army said it targeted US helicopters and reconnaissance aircraft at the Sakhir airbase in Bahrain, according to a report from the country’s semi-official Tasnim news agency.

The Islamic Revolutionary Guard Corps (IRGC) claimed early on Friday to have successfully targeted US monitoring assets in Oman.

In a statement, the military said it destroyed a US air control radar in the northern Ghanim region and a maritime surveillance radar positioned on rocks in the Strait of Hormuz.

The IRGC declared that the critical shipping waterway – which has become the key issue in the latest outburst of conflict between the US and Iran – “remains in the hands of the IRGC Navy’s admirals”.

The IRGC also reported that it hit a US military base in Kuwait early on Friday. It said that the attack targeted a missile defence radar, several key weapons depots and two HIMARS surface-to-surface missile launchers.

In northern Iraq, Kurdish counterterrorism forces reported that US coalition forces shot down eight explosive drones over the city of Erbil, according to the Iraqi News Agency (INA). No casualties were reported.

The Jordanian army announced its air defence systems shot down three Iranian missiles transiting its airspace on Friday morning. No casualties were reported as engineering teams dealt with falling debris.

The IRGC also claimed to have attacked a US special operations command centre at the al-Tanf military base in Syria, according to a Tasnim news agency report.

Call to return to ‘hard-won’ deal

As hostilities between the US and Iran continue to escalate, threatening to spread across the region and curb the global economy, efforts to convince Washington and Tehran to return to negotiations are accelerating.

China’s Foreign Minister Wang Yi and Pakistani counterpart Ishaq Dar called on Friday for an immediate ceasefire and the resumption of dialogue, hoping to save the tentative ceasefire agreed upon last month.

Both countries have sought to mediate in the months-long conflict, which rekindled with renewed fighting over the Strait of Hormuz a month after the signing of a preliminary deal aiming to end the war.

That agreement was “hard-won”, Wang said, adding: “Peace is before our eyes, [we] cannot fall at the last hurdle and even more so cannot lose what we have gained.”

Iran has said 38 people have been killed, and more than 400 injured, in the US attacks since the two sides met in Switzerland on June 22 for talks to end the war through a 60-day negotiation period, the AFP news agency reported.

Moment a projectile struck a border area between Kuwait and Iraq, sparking a fire and sending thick smoke into the sky. The scenes emerged after Kuwait said it intercepted 32 hostile drones since dawn as Iran announced strikes targeting US assets in the country.

U.S. Central Command (CENTCOM) on Wednesday unleashed a new wave of strikes on Iranian targets. The attacks, on Iran’s Greater Tunb Island, came as the newly restored blockade on Iranian ports entered its first full day and the command began ordering ships headed to Iran to turn around. Meanwhile, Iran claims it damaged several U.S. military facilities in new rounds of missile and drone attacks in the region.

“CENTCOM launched precision munitions against coastal defense systems and cruise missile storage and launch sites on Greater Tunb Island during the 90-minute wave,” the command stated on X. “The strikes further degraded Iran’s ability to attack commercial shipping in the Strait of Hormuz.” The island, located at the western mouth of the Strait, sits about 30 miles south of the Iranian coast and about 50 miles northwest of the United Arab Emirates (UAE), which also lays claim to it, along with the Abu Musa and Lesser Tunb islands that Iran seized in 1971.

Greater Tunb Island was a frequent target during Operation Epic Fury. A little more than two miles across at its widest point, it hosts a “vast network of underground bunkers,” created by the Islamic Revolutionary Guard Corps (IRGC), according to the Israeli Alma Research and Education Center think tank. “These underground facilities are believed to be storing anti-ship missiles and other weapons threatening freedom of navigation and commerce through the Strait of Hormuz.”

In a subsequent X post, CENTCOM stated that since “restarting the naval blockade against Iranian ports 17 hours ago, U.S. forces have redirected 2 commercial vessels attempting to run the blockade. The U.S. military remains vigilant and prepared to ensure full compliance.”

In its announcement on Tuesday that the blockade had been reimposed, CENTCOM stated that there are “currently more than 20 U.S. Navy warships and hundreds of military aircraft operating across the Middle East. American forces remain vigilant, lethal, and ready.”

Control over the Strait has been at the center of most of the flare-ups of violence that have taken place after a shaky ceasefire was agreed to by the U.S. and Iran on April 8. They’ve often involved Iranian attacks on commercial shipping in the Strait followed by U.S. kinetic responses. However, these kinetic encounters have been intensifying over the past five days, leading President Donald Trump to order the resumption of the naval blockade on Iranian ports. It went into effect at 11:30 PM local time on Tuesday.

As we have frequently noted, the blockade was lifted on June 17 when the U.S. and Iran signed a 14-point Memorandum of Understanding (MoU). The MoU provided a 60-day extension of the ceasefire to iron out an agreement to end fighting throughout the region, including Lebanon, prevent Iran from seeking nuclear weapons, end U.S. sanctions and resume the flow of traffic through the Strait of Hormuz, among other points.

Iran, as we noted earlier in this story, said it carried out a number of retaliatory strikes on Kuwait, Bahrain and Jordan as it has over the past five days. All three nations host an array of U.S. military facilities.

The Iranian Army’s public relations office said it “launched a seventh wave of drone strikes on U.S. bases in the region on Wednesday, targeting F-18 facilities and support infrastructure at al-Azraq in Jordan,” Iran’s official Mehr news outlet stated on Wednesday. The strikes “were part of ‘Operation Thunderbolt’ and followed six earlier waves of drone attacks on U.S. positions since the American violation of the ceasefire and the start of ‘brutal attacks’ on Iranian territory.”

TWZ cannot independently confirm Iran’s claims and CENTCOM declined comment.

“Jordan’s military intercepted three Iranian missiles,” The New York Times reported, citing a statement carried by the official Petra news agency. “The Kuwait Army said earlier that its air defenses were intercepting hostile targets, while Bahrain’s interior ministry said warning sirens had been activated. None of the countries have reported damage or casualties from strikes on Wednesday.”

However, images and videos have emerged online purporting to show damage at several installations in the wake of Iranian attacks over the past several days.

The following post on X uses satellite imagery from Iranian state media to claim damage to an anti-drone radar system at Prince Hassan Air Base in Jordan; however, its low resolution makes it hard to confirm that claim.

July 12 (UPI) — The U.S. military said late Sunday ithad completed a new wave of attacks against Iran, as world leaders raised fears that a fragile cease-fire would collapse and the conflict could widen beyond the region.

The Sunday attack was the second consecutive night that the United States had attacked Iran and was the fourth round in a week, prompting retaliatory strikes from Tehran against regional U.S. military assets following each operation, as the two sides battle over the vital Strait of Hormuz shipping route.

U.S. Central Command said its forces had completed the wave of strikes, claiming to have hit dozens of targets with precision munitions with the intent to “degrade Iran’s ability to continue attacking international shipping flowing through the Strait of Hormuz.”

Iranian air-defense systems, coastal radar sites, missile and drone capabilities and small boats were among the targets attacked by U.S. fighter jets, naval assets and aerial and sea drones on Sunday, CENTCOM said.

“The Strait of Hormuz is a vital maritime corridor for global trade,” CENTCOM said in a statement.

“Iran does not control it.”

The announcement of the operation’s conclusion came hours after CENTCOM said it had begun and after the U.S. military refuted Iran’s claims that it had closed the vital waterway in response to what it characterized as violations of the 25-day-old U.S.-Iran memorandum of understanding that established the shaky cease-fire.

“The Strait of Hormuz is open to all vessels seeking to lawfully transit the international waterway,” CENTCOM declared. “U.S. forces are positioned and prepared to ensure that freedom of navigation remains available despite unwarranted Iranian aggression, harassment, threats, and arbitrary declarations. Iran does not control the strait.

“Traffic is flowing.”

Late Sunday, Iranian media reported explosions near Sirik and west of Bandar Abbas in the country’s south during the second night of U.S. strikes, which came shortly after Iran’s Islamic Revolutionary Guard Corps targeted what it called American military assets in Qatar, Oman, Bahrain, Kuwait, Jordan and the United Arab Emirates.

As CENTCOM announced the completion of its strikes, state-run Islamic Republic of Iran Broadcasting reported that Iran’s Islamic Revolutionary Guard Corps was targeting U.S. bases in Jordan.

Those attacks drew condemnation from the Gulf states and warnings from world leaders that events were spiraling quickly.

Pakistan’s foreign ministry said it is “following with deep concern the recent incidents that are further escalating the regional tensions.”

Islamabad, which mediated the memorandum of understanding, “reiterates its strong support for the sovereignty and territorial integrity of all brotherly countries in the region, and urges all sides to exercise restraint, take immediate steps towards de-escalation, and uphold respective commitments under the [MOU].”

U.N. Secretary-General António Guterres on Sunday similarly expressed “deep concerns” over what he called a “serious escalation & renewed military confrontations in the Gulf, including the Iranian attacks on ships in the Strait of Hormuz, the attacks by the U.S. on Iran, and the attacks by Iran on targets in the neighboring countries.

“These attacks must all stop,” he said, warning that “a return to full-scale hostilities would have catastrophic consequences — for the peoples of the region, for international peace & security & for the global economy.

“I urge Iran & the U.S. to urgently resume negotiations & to address outstanding issues through diplomacy,” Guterres said.

The fighting comes as the two sides were negotiating the implementation of the MOU, with the Strait of Hormuz appearing to be a sticking point.

The United States resumed striking Iran on Wednesday after Iran attacked three commercial ships in the vital chokepoint. The Trump administration is seeking to regain freedom of navigation through the strait, while Iran seeks to maintain control over ships transiting it.

Iranian state media report explosions in port cities pof Bandar Abbas, Sirik and Jask, as well as Qeshm Island.

Explosions heard in the port cities of Bandar Abbas, Sirik, Chabahar, Bandar-e Deyr and Asaluyeh as US bombs Iran for a third time this week.

Sirens blared in several cities in Jordan as Iranian missiles were intercepted. Jordanian Armed Forces confirmed at least eight missiles were intercepted.

The US military says it has struck 90 targets across Iran, hitting ports and infrastructure along the Strait of Hormuz. Iran says at least 14 people have been killed in two nights of attacks, and that it has responded with drone strikes on US-linked sites in the Gulf region.

On Tuesday, two tankers were attacked as they transited the Strait of Hormuz via a passage in Omani waters. Gulf countries responded by sharply condemning the attacks and blaming Iran. The United States then launched attacks on Iranian territory, to which Tehran responded by striking Bahrain and Kuwait. US President Donald Trump has now said the memorandum of understanding (MoU) that Iran and the US signed is void.

This latest escalation illustrates how the Strait of Hormuz has become the central issue in the US-Israel war with Iran that began on February 28. Disagreements over the strait’s future have proven to be the hardest to resolve in the US-Iranian negotiations, as questions about Iran’s nuclear programme have been put to the side.

The disruption of traffic in the Strait of Hormuz has an immediate and costly price tag attached, for Iran, for its Gulf neighbours, and for a global economy that has spent four and a half months absorbing the largest oil supply shock in the history of the modern market.

Iran’s leverage is also its liability

For Tehran, the strait is its strongest card – one that is also incredibly costly. Since the war began, Iranian forces have mined the strait, attacked vessels and cut traffic through the passage by roughly 95 percent. This has led to what the International Energy Agency’s Fatih Birol has called “the largest supply disruption in the history of the global oil market”.

That leverage is real: about a fifth of the world’s oil and a fifth of its liquefied natural gas (LNG) normally move through Hormuz, and no amount of Gulf pipeline capacity can fully replace it.

But Iran has effectively been strangling its own lifeline along with everyone else’s. Iranian crude, once sold for $3 a barrel less than international benchmarks, is now selling at a 20 percent discount. The country’s oil exports collapsed by more than 90 percent in May as US naval enforcement squeezed its shadow fleet.

Even before the war, the World Bank projected that Iran’s economy would contract in 2026. The impact of the collapse of oil sales will be far-reaching because of the closure.

A 60-day US Treasury waiver issued on June 22, permitting Iran to sell oil at full market rates through August 21, but has now been renounced following the attacks on Tuesday.

This is the economic backdrop to Iran’s insistence on asserting joint authority over the strait and floating a system of transit fees or “service charges” for passing ships. Washington has made clear that Iran cannot charge tolls in international waters governed by the right of transit passage under the Law of the Sea.

For Tehran, the dispute is not really about toll revenue, which would be rather modest when compared to its oil income; it is about establishing precedent and sovereignty over a chokepoint that is its only real point of leverage once sanctions relief and frozen-asset release are negotiated.

The latter is itself contested: Iran wants half of an estimated $25bn in frozen assets released immediately, while the US has resisted. A separate $300bn reconstruction fund floated in the MoU has already become a political flashpoint in Washington.

The Gulf is paying for a crisis it didn’t start

For the Gulf states, the Strait of Hormuz crisis has meant improvising around geography. Saudi Arabia has redirected crude through its roughly 1,200km (746-mile) East-West pipeline to the Red Sea port of Yanbu, and the UAE has leaned on the Habshan-to-Fujairah line to the Gulf of Oman.

Together, though, these pipelines carry a fraction of what Hormuz once did, at best 7 million barrels a day of design capacity for the Saudi line and under 1.8 million for the Emirati one, against roughly 20 million barrels a day that transited the strait before the war.

Both alternatives have themselves come under attack: Iranian strikes cut the East-West pipeline’s throughput by an estimated 700,000 barrels a day in April, and drone attacks disrupted loading at Fujairah. Seaborne crude exports from Gulf states excluding Iran fell by roughly half between February and March.

Qatar, host to the talks between Iran and the US, has its own acute stake: its entire LNG export industry depends on the Strait of Hormuz, and it has been pushing the hardest for a settlement.

Oman, drawn into Iran’s sovereignty claim as co-owner of the strait’s territorial waters, is caught between commercial interest in a resolution and a legal position, as a signatory to the United Nations Convention on the Law of the Sea (UNCLOS) that publicly rejects Iranian tolls. Iraq, highly dependent on its Gulf terminals, has quietly explored an export route north through Turkiye.

None of these workarounds are cheap, and all of them are political as well as commercial, tying Gulf capitals’ economic fortunes to a settlement between the US and Iran.

The rest of the world: Insurance bills and inflation

Beyond the region, the crisis has been transmitted mainly through two channels: price and insurance. Higher oil prices are passed on to various consumer goods down supply chains and suppress growth. According to estimates, the global economy can slow down to 2.8 percent in 2026 from 3.4 percent last year due to the closure of the strait.

Insurance for Hormuz transit, which cost roughly 0.25 percent of a vessel’s value before the war, has spiked as high as 8 percent, turning a single large tanker’s coverage into a $3m-to-$8m expense. Shipping lines including CMA CGM and Hapag-Lloyd have layered on conflict surcharges of $1,500 to $2,000 per twenty-foot equivalent unit (TEU). Washington’s own International Development Finance Corporation has had to step in as, in effect, an insurer of last resort, offering up to $40bn in reinsurance capacity to keep vessels moving.

China has absorbed the largest share of this pain: It takes close to 40 percent of its crude imports through the Strait of Hormuz and buys more than 80 percent of Iran’s oil exports outright, making it simultaneously Tehran’s most important customer and one of the war’s most exposed bystanders. Japan, which sources 70 percent of its Middle Eastern crude via the strait, has already tapped strategic reserves.

For import-dependent economies across Asia and Europe, the strait’s fate is not an abstraction of Middle East diplomacy; it shows up directly in fuel, freight and fertiliser prices.

Oil and gas dominate the headlines, but roughly 30 percent of the world’s seaborne fertiliser trade also passes through Hormuz.

The World Bank’s fertiliser price index has risen more than 12 percent in the first quarter of 2026 and has since climbed to its highest level since October 2022, driven largely by the closure. The Food and Agriculture Organization has warned that the resulting scarcity of urea and other nitrogen products will show up as lower yields through the 2026–2027 growing season, hitting import-dependent and already food-insecure countries in Africa and Asia the hardest.

Unlike an oil-price spike, which mainly stings at the pump, a fertiliser shortfall reaches into next year’s harvest, meaning an unresolved Hormuz standoff carries a slower-moving but longer tail of economic damage than crude prices alone suggest.

That is the arithmetic weighing on both sides. A deal that reopens the Strait of Hormuz without resolving who controls it risks recreating the same instability that shut it in the first place; one that concedes Iranian toll authority risks a precedent Washington and shipping nations will not accept. Until that circle is squared, the global economy is left pricing in a chokepoint that neither side can fully afford to keep closed, nor fully agree how to reopen.

The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial policy.

The Iranian Striker: Mehdi Taremi offers a rare personal portrait of one of Iran’s most celebrated footballers during the 2026 FIFA World Cup.

Iranian team striker Mehdi Taremi reflects on the journey that shaped him – from growing up in Bushehr, to representing millions of Iranians at the World Cup.

In this Al Jazeera Originals short documentary, Taremi speaks about childhood, compulsory military service, sacrifice, criticism, national identity and why football means far more than the game itself. He also shares what it means to represent Iran before a global audience, and why he hopes football can help people better understand his country.

July 8 (UPI) — Britain has summoned Iran’s charge d’affairs after a judge last week sentenced two Romanian men to prison for stabbing an Iranian journalist in London in 2024, an attack the court found was carried out on behalf of the iranian state.

“We take threats posed by Iran and those who do its bidding extremely seriously,” a spokesperson for Britain’s Foreign, Commonwealth and Development Office said in a statement.

“Iran’s actions attempt to undermine UK sovereignty and security, and are completely unacceptable — it must cease in these activities immediately.”

Ali Nasimfar, charge d’affairs of the Iranian Embassy in London, was summoned by Middle East Minister Hamish Falconer on Tuesday, after a British judge sentenced Nandito Badea, 21, and George Stana, 25, to prison over the March 29, 2024, attack.

According to prosecutors, the two men attacked Pouria Zeraati, a reporter with the Britain-based Persian-language broadcaster Iran International, as he was leaving his Wimbledon home.

One of the men asked Zeraati for money before the other grabbed him. Zeraati suffered multiple stab wounds to his leg before both men fled on foot and entered a blue Mazda car that was waiting nearby and driven by a third accomplice.

Prosecutors accused Badea of having been involved in the attack, while Stana drove the getaway car, which had been bought through Facebook. The third suspect has been identified as David Andrei.

The three suspects were arrested by Romanian police in December 2024. Badea and Stana were extradited to Britain that same month, while Andrei remains in Romania, where he is subject to domestic criminal proceedings.

During the trial, the judge agreed with the prosecution that the crime was a state-sponsored attack, as evidence “overwhelmingly” supported the finding that it was carried out on behalf of Iran.

Stana was sentenced to 12 years in prison, as the judge ruled that the Foreign Power Condition under the National Security Act was met in his case. The judge said the extensive planning and involvement in the plot indicated that he knew — or at the very least ought to have known — of the connection to Iran.

Badea was sentenced to eight years behind bars.

“Protecting national security, upholding media freedom and freedom of expression, remain our top priorities,” Britain’s Foreign, Commonwealth and Development Office said.

“This government will take all measures necessary to protect the British people, and those living and working in the UK.”

British officials and allies have accused Iran of a longstanding pattern of targeting critics, journalists and dissidents abroad with assassination plots.

In the United States, authorities have several times thwarted Iran-backed attempts to assassinate and kidnap Masih Alinejad.

In 2024, the United States and Britain issued coordinated sanctions targeting those they accused of being behind threats to assassinate Iranian dissidents abroad.

LOS ANGELES — A lawsuit filed Tuesday alleges that the Trump administration’s immigration agencies have been sharing confidential information about Iranian asylum seekers with the Iranian government, violating national immigration regulations and endangering countless Iranians, court filings argue.

The lawsuit depicts a coordinated campaign between the U.S. and Iranian governments to identify Iranians in Immigration and Customs Enforcement custody and pressure them to return to Iran — a marked departure from decades of diplomatic hostility between the two governments and an ongoing war.

Roughly 600 Iranians were put in immigration detention last year, according to public records obtained by the National Iranian American Council. In June, an Iranian woman was among the two dozen migrants the U.S. deported to the Central African Republic — in a marked departure from a decades-long practice by the U.S. of welcoming Iranian dissidents, exiles and others since the 1979 Islamic Revolution forced a large number of Iranians to flee.

The U.S. government is allowed to work with government officials of foreign countries to coordinate deportation logistics. However, federal regulations passed in the late 1990s prohibit the government from sharing information that could reveal that the individual getting deported applied for asylum.

“Congress made these confidentiality protections mandatory precisely because lives depend on them, and no agency and no administration, of either party, may set them aside,” said Ali Rahnama, the interim executive director of Iranian American Legal Defense Fund.

Starting in March 2025, the U.S. State Department arranged monthly meetings with Iranian officials, using the Pakistani embassy as an intermediary, in which U.S. officials shared detailed, sensitive information about detained Iranian immigrants who the U.S. government hoped to deport, lawyers for the Iranian American Legal Defense Fund and the Public Citizen Litigation Group wrote in a complaint.

The information included details about asylum applications filed by people who say they were persecuted for converting to Christianity, for their sexuality or for participating in the Women, Life, Freedom protests against the Iranian government in 2022, according to the lawsuit, which was filed in U.S. District Court in Washington, D.C.

ICE forced Iranian asylum applicants who had been detained in numerous facilities, mostly southern states, to meet with an Iranian government official who had extensive and specific knowledge about their applications, according to the complaint. The information was shared even after the joint U.S.-Israeli strikes on Iran started the Iran war in February 2026.

The lawsuit is seeking to halt sharing information about asylum seekers with the Iranian government and appoint an independent monitor to prevent future disclosures.

“Despite the U.S.’s ongoing war with Iran, the administration seems more committed to mass deportation than protecting human lives,” Michael Kirkpatrick, attorney at Public Citizen Litigation Group said in a statement.

The complaint names the Department of Homeland Security, Secretary of State Marco Rubio, Secretary of Homeland Security Markwayne Mullin and the Department of State as some of the defendants. The Department of Homeland Security and the State Department didn’t respond to an emailed request for comment on Tuesday morning.

The allegations come amid President Trump’s ambitious and aggressive immigration crackdown that involved over 600,000 deportations and causing roughly 1.9 million immigrants to voluntarily leave in 2025 alone, according to an announcement made by DHS.

Iranian officials acknowledged in September 2025 that as many as 400 Iranians could be returned under an agreement with the Trump’s administration. That month, the first of three deportation flights brought dozens of Iranians back to Iran. The second deportation flight was in December 2025, and the final recorded deportation flight departed at the end of January 2026, roughly a month before the war on Iran started, and just weeks after the Iranian government killed thousands of citizens as part of a brutal crackdown on protests. The New York Times reported at the time that some of those deported in the flights in September, December and January were asylum seekers.

Riddle writes for the Associated Press.

Maritime monitoring service TankerTrackers.com said on Thursday that a ship which Iranian media reported had run aground in the Strait of Hormuz has in fact been stuck in the same spot since March and is part of an operation managed by the notorious Iranian oil magnate Mohammad Hossein Shamkhani.

Here is what we know about Shamkhani, whom the US and EU allege is a central figure in Iranian and Russian shadow fleet operations, generating billions of dollars of oil revenues for both, and what happened to his ship in the Hormuz strait.

What do we know about the stranded ship?

On Thursday, TankerTrackers.com reported that the ship that Iranian media said had run aground in the Strait of Hormuz after using a “US-suggested route” has actually been stuck in the same spot since March.

It identified the vessel as the Arista, and reported that while it is Comoros-flagged, it is in fact part of an operation managed by the sanctioned Iranian oil magnate Shamkhani.

Who is Mohammad Hossein Shamkhani and what are the allegations against him?

Shamkhani is an Iranian oil shipping magnate who has multiple Western sanctions imposed on him. He is the son of the late Ali Shamkhani, a senior political adviser to Iran’s former Supreme Leader Ayatollah Ali Khamenei.

Ali Shamkhani led the Supreme National Security Council (SNSC) for a decade until 2023, making him the second-longest-serving security chief since 1979 after former President Hassan Rouhani, who was SNSC secretary for nearly 16 years.

He was reportedly killed in the first Israeli-US strikes on Tehran on February 28 , which triggered the war with Iran and also killed Khamenei, whose funeral begins tomorrow.

In March, the Sarajevo-based Organised Crime and Corruption Reporting Project (OCCRP) reported that following an investigation, Mohammad Hossein Shamkhani and his brother had used aliases and Caribbean “golden passports” to amass a $29m million property portfolio in Dubai.

The US Treasury, which has sanctioned the Shamkhani shipping empire, says it is part of a massive Iranian and Russian oil smuggling ring and that the Comoros‑flagged Arista aground in Hormuz is part of that network.

How does Shamkhani’s oil shipping operation work?

According to the US Treasury, the Shamkhani network makes use of “front” companies to buy Iranian and Russian oil for which it falsifies shipping documents. It switches the oil between vessels frequently via its shipping operations and sells the oil on to buyers who pay for it via their own front companies to obscure the flow of money.

Additional profits are funnelled through hedge funds and other money-laundering operations, the US Treasury alleges.

It said Shamkhani relies on a mix of crude oil, oil product and liquefied petroleum gas (LPG) tankers to generate billions of dollars for the Iranian and Russian regimes.

According to the European Commission, Shamkhani “uses the company Milavous Group Ltd to blend crude oil with various petroleum products from Russia and to rebrand for exporting purposes, thereby concealing their origin”.

Shamkhani is not known to have responded publicly to these allegations.

What sanctions have been imposed on Shamkhani?

Shamkhani was first sanctioned by the US last July, amid a large number of Iran-related sanctions. In April, the US Treasury Department announced additional sanctions on Shamkhani’s network.

“Treasury is moving aggressively with Economic Fury by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people,” Treasury Secretary Scott Bessent said.

A statement from the US Treasury added that Shamkhani “heads a multi-billion dollar Iranian and Russian petroleum sales empire that enriches a family connected to the highest echelons of the Iranian regime at the expense of the Iranian people”.

The European Union sanctions tracker website says Shamkhani is also subject to EU sanctions, describing him as “a businessperson active in the Russian oil trade and a central player in Russia’s so-called ‘shadow fleet’.”

Russia’s shadow fleet is a network of hundreds of ageing, poorly regulated oil tankers that Russia uses to export crude and fuel while evading Western sanctions imposed after its invasion of Ukraine in 2022.

An August last year, the UK government also announced sanctions against Shamkhani including an asset freeze, director disqualification and travel ban. Minister for the Middle East Hamish Falconer said: “The UK is announcing sanctions against those who operate on behalf of Iran, fuelling its attempts to undermine stability in the Middle East and global security.

“Iran’s reliance on revenues from trading networks and connected organisations enables it to carry out its destabilising activities, including supporting proxies and partners across the region and facilitating state threats on UK soil.”

Brent crude edges up as tit-for-tat strikes imperial return to normality in key waterway.

Oil prices have climbed following the latest flare-up in hostilities between the United States and Iran.

Brent crude, the primary international benchmark, rose about 0.9 percent on Monday after tit-for-tat US and Iranian strikes over the weekend renewed doubts about a return to normal shipping in the Strait of Hormuz.

Brent futures for August delivery stood at $73.21 a barrel as of 03:30 GMT, 127 cents higher than the day before the US and Israel launched their war on Iran on February 28.

“Brent’s partial rebound this morning reflects a market that had perhaps run too quickly on ceasefire optimism,” Fabien Yip, a market analyst at IG in Sydney, Australia, told Al Jazeera.

“Oil had nearly unwound its entire war premium, despite an MoU with no enforcement details and ongoing strikes. Thursday’s attack on a commercial vessel was a reality check, and this weekend’s tit-for-tat exchanges have compounded that,” Yip said.

Asian stock markets were mixed on Monday morning, with losses in Tokyo and Seoul and gains in Hong Kong and Taipei.

Japan’s benchmark Nikkei 225 was 0.7 percent lower, while South Korea’s Kospi was down 1.9 percent.

Japanese and Korean stocks tied to the AI boom saw some of the biggest losses amid heated debate about whether tech firms’ massive investments in the emerging technology will pay off.

Japanese tech giant SoftBank Group fell about 5 percent, while Advantest Corporation, a key maker of semiconductor testing equipment, slumped 3.7 percent.

South Korean memory chip giants Samsung Electronics and SK Hynix dropped about 5 percent and 4 percent, respectively.

Hong Kong’s benchmark Hang Seng Index and Taiwan’s Taiex both rose, gaining 2.2 percent and 1.4 percent, respectively.

“Quarter-end profit-taking is adding to the selling pressure, with investors locking in gains from what has been a remarkable run. The Kospi is up roughly 95 percent this year, and the Nikkei up 37 percent,” IG’s Yip said.

“The underlying concern, however, is whether the AI boom can continue to translate into sustained earnings growth, or whether margin pressure is arriving sooner than the market anticipated.”

US Central Command announced strikes against Iran on Friday and Saturday, citing Iranian attacks on two commercial vessels in the Strait of Hormuz, which in peacetime serves as a conduit for about one-fifth of the global trade in oil and liquified natural gas.

Iran responded to the strikes by launching a series of missiles and drones targeting US military assets in Bahrain and Kuwait.

Washington and Tehran agreed to cease their attacks and renew their negotiations on ending the war, multiple media outlets reported late on Sunday, citing unnamed US officials.

Axios, citing an unnamed senior US official, reported that the sides would hold talks in Doha, Qatar, on Tuesday.

Iran has yet to comment on the reported agreement to cease hostilities or the planned talks.

US President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding to end the war on June 17, but the agreement has repeatedly come under strain due to flare-ups in hostilities and disagreements about the meaning of the text.

Iran’s foreign minister has urged ‘all parties not to interfere’ in the management of the Strait of Hormuz, after the US bombed Iran for a second day following a drone attack on a vessel. Abbas Araghchi says the MoU gives Tehran control of the waterway, during a press conference with his Iraqi counterpart in Baghdad.

Lebanon to top the agenda as US and Iran to hold talks in Switzerland’s Burgenstock mediated by Qatar and Pakistan.

United States Vice President JD Vance has arrived in Switzerland for talks with Iran days after they signed a memorandum of understanding (MoU) aimed at ending the US-Israel war on Iran, which had sent oil prices soaring above $100 per barrel and rattled international markets.

The latest round of talks mediated by Pakistan and Qatar is scheduled on Sunday as Israel has intensified attacks on Lebanon, killing dozens of people on Saturday.

Iran’s Islamic Revolutionary Guard Corps (IRGC) announced on Saturday that it was closing the Strait of Hormuz, accusing Israel of violating the ceasefire in Lebanon. The Iranian delegation, including parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi, has also arrived in Switzerland.

Here’s what we know about the conflict, which has entered its 114th day:

Diplomacy

• The US and Iran are to hold high-level talks in Switzerland’s Burgenstock on Sunday with the US delegation led by Vance. US President Donald Trump’s special envoy Steve Witkoff and his son-in-law Jared Kushner are also part of the US delegation. Before departing for the talks, Vance told reporters he hoped to make “progress on the nuclear issue” and “on the Lebanon ceasefire issue”.
• Iran’s delegation, led by Ghalibaf and Araghchi, said its main goal is to ensure all parties fully implement the interim deal to end the war.
• Esmaeil Baghaei, spokesperson for Iran’s Ministry of Foreign Affairs, said the Iranian delegation “will be pressing for implementation” of US commitments outlined in the MoU and “seeking clarity on how exactly the other side intends to carry out those commitments”.
• Pakistani Prime Minister Shehbaz Sharif and military chief Field Marshal Asim Munir have left for Burgenstock to take part in the talks. “Pakistan will continue to support and advance the implementation of the understandings reached between the Islamic Republic of Iran and the United States,” the Pakistani Ministry of Foreign Affairs said in a statement posted on X.
• Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani is also expected to take part in the key talks as Israel’s Lebanon attacks threaten to unravel the deal signed electronically by Trump and his Iranian counterpart, Masoud Pezeshkian, on Thursday.
• Egypt will host a four-way meeting with the foreign ministers of Saudi Arabia, Turkiye and Pakistan amid the Iran-US talks. The group first met in Riyadh on March 18, followed by meetings in Islamabad on March 29 and Antalya on April 18, reflecting growing efforts by regional powers to address crises through regional diplomacy rather than external intervention.

In Iran

• Mohammad Mokhbar, adviser and assistant to Iranian Supreme Leader Mojtaba Khamenei, warned that Tehran will not accept a paper agreement unless Washington fully implements its commitments. In a post on X, Mokhbar said the US understood pressure in economic terms. “Americans understand the language of economics and cost-benefit better,” he wrote. “When the agreement remains just on paper, the flow of Middle East energy will also come to a halt.”

• Al Jazeera’s Mohammed Vall, reporting from Tehran, said the delegation from Tehran is going to drive home the idea that Iran is not going to move forward in the implementation of the MoU unless the Israelis abide by the agreement. “They say the Americans bear the responsibility for that and that the Americans have to guarantee that the Israelis comply,” he said.
• Iran’s ⁠oil ⁠industry will be a key testing ground ⁠for any final peace agreement ⁠with the US if Western parties remain committed to its ‌spirit, Oil Minister Mohsen Paknejad says. The ministry’s Shana news agency quoted Paknejad as ⁠saying that in a ⁠post-agreement era, Iran’s oil sector would offer the global ⁠economy significant investment ⁠opportunities and ⁠has hundreds of investment projects as well as technical ‌and operational partnership contracts ready to be ‌signed.
• Amir Ghalenoei, the coach of Iran’s national football team, has criticised increasingly difficult preparation conditions for the team before Sunday’s World Cup match against Belgium, saying “conditions have become even harder” than before their opening match with New Zealand. Iran have been based in Tijuana, Mexico, for the tournament and have been travelling to the US for Group G matches due to restrictions on their stay, an issue that has drawn scrutiny throughout the World Cup.

In the US

• Trump said there will be no tolls for passage through the Strait of Hormuz unless they are collected by the US. This came after the IRGC said it had closed the waterway, through which a fifth of global oil and liquefied natural gas supplies passed before the war.
• David Sacks, Trump’s technology adviser, has defended the US-Iran MoU, calling it “a tremendous achievement” and a better path than prolonged conflict. Speaking on the All-In Podcast on Saturday, Sacks dismissed calls to escalate, arguing a ground invasion of Iran would make no sense, given Iran’s size and could require as many as a million troops. He branded any such attempt a “suicide mission”.
• Members of the Democratic Party are continuing to criticise Trump over his handling of the war with Iran. Johnny Olszewski, a Democratic congressman from Maryland, said Trump’s “war of choice” was a “disaster” and argued that the agreement with Iran was already breaking down.

In Lebanon

• Five people were killed, among them a child, a woman and two elderly people, in an Israeli raid on the village of Sohmor in Lebanon’s western Bekaa Valley, according to the National News Agency (NNA), citing the Ministry of Public Health. Sunday’s report did not specify when the attack took place. Two people of Palestinian origin were killed in Rashidieh in southern Lebanon’s Tyre district, the NNA reported.
• The Times of Israel reported on Sunday that an Israeli soldier has been killed and 13 others wounded when a barrage of rockets and a drone struck the soldiers’ position in Kfar Tebnit in southern Lebanon.
• Israeli media reports said Prime Minister Benjamin Netanyahu has ordered invading troops to hold fire in Lebanon except for those engaged in a battle raging on the Ali al-Taher Hills near Nabatieh.

United States President Donald Trump has said an initial agreement to end the US-Israeli war with Iran is “scheduled to get signed tomorrow”.

But that announcement, made on Trump’s Truth Social account on Saturday, contradicts an earlier statement by Iranian Ministry of Foreign Affairs spokesman Esmaeil Baghaei.

In remarks carried by Iran’s IRNA news agency, Baghaei said a memorandum of understanding would not be signed on Sunday and that negotiators are not planning to travel immediately to Geneva, Switzerland, in preparation for such an event.

According to Baghaei, a signing could happen “in the coming days”.

Hours later, Trump wrote, “The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL.” Sunday marks Trump’s 80th birthday.

In recent days, Iran and the US have repeatedly contradicted each other when describing the details of the anticipated agreement, even as both sides have broadly signalled that a deal was closer than ever before.

Still, no terms have been officially released, with US and Iranian officials on Friday stressing that the agreement had not been finalised.

Beyond opening the Strait of Hormuz, Trump said in Saturday’s post that the agreement would be a “A WALL TO NO NUCLEAR WEAPON!” and that “no money would exchange hands”.

Trump also maintained that “at the appropriate time, when all is calm, we will go in and get the Nuclear Dust”, referring to Iran’s stockpile of enriched uranium.

But speaking on Iran’s Press TV on Friday, Iranian ⁠⁠Foreign ⁠⁠Minister Abbas Araghchi said the initial memorandum of understanding would only be a launch point for negotiations about the future of Iran’s nuclear programme.

He added that the signing would result in an immediate pause in fighting, but that Iran and Oman would continue to administer the Strait of Hormuz.

The issue of lifting foreign sanctions against Iran and unfreezing the country’s assets would be discussed following the signing of the memorandum of understanding, Araghchi said.

From threats to diplomacy

The latest flurry of diplomacy came after the US and Iran traded strikes for two days this week, threatening to end a pause in fighting that has persisted since April 8.

The US and Israel launched the war on Iran on February 28, amid ongoing indirect talks on the future of Iran’s nuclear programme.

The US and Israel had also launched a 12-day war on Iran in 2025, during another round of nuclear talks.

Iranian officials have said that deep distrust towards the US has slowed the progress towards creating a lasting agreement to bring the current war to an end.

Trump, meanwhile, has repeatedly pledged to reach a deal that would surpass the 2015 Joint Comprehensive Plan of Action (JCPOA), struck under his Democratic rival, former President Barack Obama.

That agreement, from which Trump unilaterally withdrew in 2018, saw Tehran agree to limit its nuclear programme and allow for international inspections in exchange for sanctions relief.

For years, Iran has maintained that it is building a nuclear programme for civilian use only and is not seeking a nuclear weapon.

In his post on Truth Social, Trump again pledged that any deal reached would be more stringent than the JCPOA.

“Our relationship with Iran is a much different and better one than previous Administrations have had,” he said.

“Hopefully, this process will all work out quickly, easily, and smoothly,” he added.

“If it doesn’t, we have the ultimate alternative, hopefully never to be used again!” he wrote, without elaborating on what his threat meant.