US-Iran war highlights: MoU signed, Pak says peace deal will take ‘immediate effect’

US-Iran news LIVE updates: Israeli forces and settlers carried out multiple raids and attacks across the occupied West Bank, according to Palestinian news agency Wafa. At least six Palestinians were arrested during military incursions in several towns, while settlers allegedly set fire to mosques in Jiljilya and Mazraa al-Nubani. Four Palestinians were reported injured in a settler attack in Beita. Elsewhere, Israeli forces continued land bulldozing operations near Jenin, established a new checkpoint east of Bethlehem, and settlers vandalised Palestinian homes and vehicles in Burin and Beita.

US-Iran news LIVE updates: Iranian Foreign Minister Abbas Araghchi and Russian Foreign Minister Sergey Lavrov discussed the preliminary Iran-US agreement and the situation in Lebanon during a phone call. Araghchi outlined the details of the memorandum of understanding and stressed the need to halt Israeli military action in Lebanon. Lavrov welcomed the agreement and voiced Russia's support for its implementation. Both ministers called for backing from the international community and the UN Security Council, while emphasizing continued diplomacy to promote regional stability.

Iran war news LIVE updates: The Israeli military said warning sirens were triggered in the northern border village of Zar’it after a suspected aerial intrusion was detected. Authorities are investigating the incident and have not yet provided further details on the aircraft or its origin.

Iran war news LIVE updates: The International Energy Agency (IEA) said the global oil market is expected to recover gradually after the reopening of the Strait of Hormuz and the lifting of the U.S. naval blockade on Iran. While Gulf oil production and exports, including Iranian shipments, are set to rebound, the recovery will take time as shipping lanes must be cleared of mines and supply chains restored.

The IEA noted that oil flows through Hormuz have already risen from a May low of 9.6 million barrels per day to around 12 million barrels per day. If current agreements hold, the agency expects Gulf exports to continue recovering before the market eventually moves into a significant oil surplus in 2027.

Iran war news LIVE updates: Somaliland's Defence Minister Mohamed Yusef Ali has dismissed reports that Israel is negotiating to establish a military base in the breakaway region, calling them mere "rumours." He told Reuters there is currently no Israeli military presence in Somaliland and no discussions about opening a base there.

Ali said Israel is providing training to Somaliland's military and police forces, but stressed that cooperation does not extend to hosting Israeli troops or facilities.

Iran war news LIVE updates: Opening Hormuz will be 'massive step forward', NATO chief Mark Rutte as said, as per AFP.

Iran war news LIVE updates: In the draft and based on comments made by Trump, US officials and Iranian officials, Iran has stated that it does not wish to pursue a nuclear weapon.

The deal between the US and Iran will lead to fresh negotiations, during which the fate of Iran's nuclear and uranium enrichment programme.

The final agreement between the two nations will be approved by a binding resolution of the UN Security Council, according to the memo.

Iran war news LIVE updates: The memorandum of understanding, as seen by Bloomberg, begins with the declaration to end the war on all fronts, including Lebanon. The agreement further states that neither the US nor Iran will engage in any hostile action against the other or use threats or force.

The first few points of the MoU call for a fresh 60-day period of negotiations between Washington and Tehran. As per previous statements from US officials, these negotiations will focus on Iran's nuclear ambitions and enrichment of uranium.

Upon signing the agreement, a few key changes will take place. These are -

-Lifting the US naval blockade on Iranian ports and restoring traffic within a maximum of 30 days to its full capacity.

-The removal of the blockade should allow the restoration of traffic at Iranian ports to pre-war levels.

-The US will also withdraw its forces from the surrounding areas within 30 days after the final agreement.

-The Strait of Hormuz will be reopened, and movement through the key strait will be restored to pre-war volume within 30 days, after taking into account the need for “the removal of technical obstacles and the neutralisation of mines by Iran.”

Iran war news LIVE updates: Canada's Prime Minister Mark Carney on Wednesday said a US-Iran deal to end the Middle East war could be a "game changer" in the region and beyond.

There is "a likelihood that this memorandum of understanding agreement could be a game changer", Carney told reporters on the third day of a G7 leaders' meeting in the French town of Evian.

He pointed to encouraging discussions, which included US President Donald Trump, on Ukraine and Lebanon at the summit.

The Canadian premier said he noted a US "change in tone with respect to Ukraine" as Kyiv seeks to end more than four years of conflict following Russia's invasion.

This included "a more realistic -- in our view -- expectation of where this war was going to go, and the position against Russia, the tightening of sanctions against Russia, the ability to provide additional defensive support for Ukraine". (AFP)

Iran war news LIVE updates: The draft memorandum to be officially signed by US and Iran will bring “an immediate and permanent end to the war on all fronts, including Lebanon”, according to the text. It stated that the US and its regional partners will create a plan for the rehabilitation and economic development of Iran, with financing of up to $300 billion.

“The United States undertakes, together with its regional partners, to create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Islamic Republic of Iran, while ensuring financing of at least $300 billion,” the text reads.

Further, it says that the US would lift all sanctions on Iran, including ones imposed by international agencies like the United Nations, within a specific time period which has not been mentioned.

“The United States commits to ending, on a schedule to be agreed upon as part of the final agreement, all types of sanctions currently facing the Islamic Republic of Iran, including resolutions of the United Nations Security Council and the Board of Governors of the International Atomic Energy Agency (IAEA), and all unilateral U.S. sanctions, both primary and secondary,” the draft says.

Iran news LIVE updates: Iran would be allowed to start oil exports immediately under an interim deal with the US and gain access to a $300 billion economic development program following negotiations for a permanent peace that’s meant to address Tehran’s nuclear activities, according a draft of their agreement.

The two sides plan to formally sign the memorandum of understanding on Friday in Switzerland, formalizing an agreement reached earlier and clearing the way for 60 days of talks to end the war and put strict limits on Iran’s nuclear program.

Iran news LIVE updates: Israeli Prime Minister Benjamin Netanyahu told President Donald Trump last year that he was the "greatest friend Israel ever had in the White House."

Now, as Trump tries to finalise a deal to end the war with Iran, he's unloading on Netanyahu with rhetoric that no other American leader has dared to use publicly.

He claimed credit for Israel's existence - "without me, there would be no Israel" - and cursed his judgment in interviews. He even described him as "crazy."

Netanyahu's tenure as prime minister spans four US presidents, and he's frustrated all of them at one point or another. But none has voiced that as openly as Trump, who started the conflict in tandem with Netanyahu.

The tension comes as Trump criticises recent Israeli attacks in Lebanon, which threatened to jeopardise negotiations between Washington and Tehran. Trump has been pushing for a deal as he faces political blowback at home, where the war is unpopular and has driven up gasoline prices.

"If Netanyahu gets in between something Trump really wants, and that's out of this war, he's prepared to use the leverage that he has," said Aaron David Miller, who served as an adviser on Middle East issues to Democratic and Republican administrations over two decades.

An agreement is scheduled to be signed on Friday in the Burgenstock resort near the city of Luzern. Speaking on Tuesday at the annual G7 summit in France, Trump said he told Netanyahu that he's been unhappy with his recent moves.

Iran news LIVE updates: A number of Iran-linked oil tankers have been shifting position as the country prepares to sign a peace deal that could allow Tehran to immediately start selling its oil.

Four ships, two of which are supertankers capable of hauling two-million barrels of crude, switched on their transponders and appeared to be sailing out of the Strait of Hormuz or Gulf of Oman, according to vessel tracking data compiled by Bloomberg.

At least three ships that had been waiting at the port of Chabahar, just outside the Persian Gulf, had left their positions, TankerTrackers.com Inc. said in a post on X. Their current whereabouts were unknown, the company said at the time.

Traders are closely watching for signs that Iranian oil will flow to market and the US blockade of its ports will be lifted. A surge in sales would add further supplies to an oil market that has come under growing pressure since the peace deal was announced. Analytics company Kpler estimates that about 68 million barrels of Iranian supplies are currently stranded inside the blockade.

As part of its agreement with the US, Iran is set to receive upfront sanctions waivers that will allow it to sell oil immediately, Bloomberg reported on Tuesday, citing a near-final draft of the deal.

(Bloomberg)

Iran news LIVE updates: Israeli Prime Minister Benjamin Netanyahu told President Donald Trump last year that he was the “greatest friend Israel ever had in the White House."

Now, as Trump tries to finalize a deal to end the war with Iran, he's unloading on Netanyahu with rhetoric that no other American leader has dared to use publicly.

He claimed credit for Israel's existence — “without me, there would be no Israel” — and cursed his judgment in interviews. He even described him as “crazy.”

Netanyahu’s tenure as prime minister spans four U.S. presidents, and he's frustrated all of them at one point or another. But none has voiced that as openly as Trump, who started the conflict in tandem with Netanyahu.

The tension comes as Trump criticizes recent Israeli attacks in Lebanon, which threatened to jeopardize negotiations between Washington and Tehran. Trump has been pushing for a deal as he faces political blowback at home, where the war is unpopular and has driven up gasoline prices.

“If Netanyahu gets in between something Trump really wants, and that’s out of this war, he’s prepared to use the leverage that he has,” said Aaron David Miller, who served as an adviser on Middle East issues to Democratic and Republican administrations over two decades.

An agreement is scheduled to be signed on Friday in the Burgenstock resort near the city of Luzern. Speaking on Tuesday at the annual G7 summit in France, Trump said he told Netanyahu that he's been unhappy with his recent moves.
(AP)

Iran news LIVE updates: Iran has reportedly fired multiple drones aimed at commercial ships in the Strait of Hormuz, a source told The Jerusalem Post on Wednesday.

The firing took place after the signing of the US-Iran memorandum of understanding (MoU) on Sunday, and the drones were intercepted by the US military ere they posed a threat to commercial or US military ships and personnel.

The Islamic Revolutionary Guard Corps (IRGC) had launched the drones, a US official told NBC, adding that the US military is coordinating with shipping companies to support ships transiting through the Strait of Hormuz, as per Jerusalem Post.

Meanwhile, US intelligence agencies' assessment revealed on Wednesday that Iran has acquired the ability after the war to shut the Strait of Hormuz at will, sources told CNN.

Iran's ability to hurt the economy using the critical waterway can crop up again regardless of the framework agreement to be signed on Friday, the assessment revealed.

Iran has now become the US' Achilles heel as it has learnt to leverage the strikes on Gulf countries' energy infrastructure, the sources familiar with the assessment told CNN. Iran had struck US bases in the neighbouring countries- the bases which were meant to be the safety guarantors by the US.

(ANI)

Iran news LIVE updates: Several Israeli strikes hit south Lebanon on Wednesday, news agency AFP reported citing Lebanon state media.

Iran news LIVE updates: Gold held gains, as the US and Iran prepared to sign an interim peace deal that may ease global inflationary pressures arising from the war.

Bullion was near $4,325 an ounce, after advancing more than 6% over the past four sessions. Financial details of the US-Iran agreement are emerging, including that the Islamic Republic would be allowed to sell its oil immediately and get eventual access to its frozen assets.

US President Donald Trump has promised the Strait of Hormuz can fully re-open by Friday, though some European allies remained wary of potential risks. Opening up the waterway would alleviate an energy supply crisis that has sent inflation soaring and prompted many central banks to keep rates on hold or even hike them — moves that are negative for non-yielding bullion.

Attention was shifting to the first Federal Reserve policy decision under new chairman Kevin Warsh later on Wednesday, as investors looked for clues on how he may handle the inflation risk. Market expectations are for rates to be kept on hold.

“Gold’s firming correlation with real yields shows focus has shifted to” the upcoming Fed meeting, analysts from Standard Chartered Plc, including Emily Ashford, said in a note. While the prospective US-Iran pact “bodes well for gold finding a price floor sooner rather than later,” prices are likely to be volatile given the precious metal dipped below its 200-day moving average earlier this month.

(Bloomberg)

Iran news LIVE updates: Rising inflation and a 30% jump in oil prices are dampening global growth, but leaders of the world's top economies are unlikely to blame US President Donald Trump for the war-driven slowdown when they meet in France to discuss the economy on Wednesday.

G7 leaders, already bruised by US tariffs and conflicts over NATO and Greenland, have publicly criticized Trump's decision not to consult them before the US and Israel launched the war with Iran in late February, while they warned about the likely economic fallout.

The US and Iran announced over the weekend that they had reached an agreement to stop the fighting and open the Strait of Hormuz, sending a jolt of optimism through global markets.

But the war's impact on the global economy is already apparent: It has sent energy prices up sharply, renewed inflationary pressures and sparked concerns about a major food supply crisis in developing countries. Central bankers have tightened policy, with the European Central Bank and Bank of Japan raising interest rates in the last week to ward off a steeper inflation hit.

(Reuters)

Iran news LIVE updates: More than three months later, with a preliminary peace deal in place, what has Trump achieved?

1. Missiles and drones: Iran's missile and drone capabilities suffered major setbacks during the war, with US officials saying about one-third of its missile arsenal was destroyed and more than 1,500 missiles and 6,000 drones were intercepted by the US and its allies.

2. Conventional military: The US military says it significantly weakened Iran's conventional forces, destroying 161 naval vessels, knocking out 82% of its air defence systems and effectively grounding the Iranian air force.

3. Nuclear programme: Iran's nuclear programme remains largely intact, with US intelligence assessments indicating that Tehran's timeline for potentially producing a nuclear weapon remains unchanged at less than a year.

4. Iranian proxies: Iran's network of regional proxy groups has been weakened, with US assessments finding that Tehran's ability to supply allied militias with advanced weapons has been significantly reduced.

5. Regime change: The war did not topple Iran's ruling system, although Supreme Leader Ayatollah Ali Khamenei was succeeded by his son, Ayatollah Mojtaba Khamenei, whom Trump described as leading a "new, and more reasonable, regime."

(With inputs from Reuters)

Iran news LIVE updates: Oil headed for the longest losing run in 10 months on gathering expectations that a US-Iran deal to reopen the Strait of Hormuz will unleash a wave of supply, loosening the global crude market.

Global benchmark Brent retreated for a fifth day to below $79 a barrel, trading near a three-month low, while West Texas Intermediate was near $76. The interim pact, which is due to be signed on Friday, offers Tehran broad financial incentives, including the right to sell its oil immediately.

Crude prices have retreated sharply in recent weeks as moves to end the war between Washington and Tehran are seen easing tightness in global energy markets. Producers, shippers and traders are now assessing whether the agreement will prove to be durable, and how long it will take for vessel transits of the Hormuz chokepoint to be revived in earnest.

“Most traders still believe US naval operations will likely be escorting for the first few weeks, and mine-sweeping ships will also be present, which will slow the flow of traffic,” said Dennis Kissler, senior vice president for trading at BOK Financial Securities Inc. “Still, the futures market is always looking in the distance, and for now the odds are increasing that oil will be moving.”

While technical details are still being finalized and some language may be changed, a 14-point draft memorandum offers the clearest picture yet of the deal, which will pave the way for 60 days of talks aimed at formally ending the war and imposing strict new limits on Iran’s nuclear program.
(Bloomberg)

Iran news LIVE updates: Indian equity markets opened higher on Wednesday, with the Nifty crossing the 24,000 mark and the Sensex gaining around 100 points, supported by optimism surrounding the proposed US-Iran peace framework and easing crude oil prices.

At the time of filing this report, the Sensex was trading at 76,871.58, up 63.10 points or 0.08 per cent, while the Nifty was at 24,010, up 20.95 points or 0.09 per cent.

Market sentiment remained positive as Brent crude stayed below the USD 80 per barrel mark, helping ease concerns over inflation and energy costs.

In the opening session, buying interest was seen in information technology, consumer durables, energy, FMCG and realty stocks, while metal counters remained under pressure. Banking stocks traded mixed as investors awaited further global cues. Sectoral trends followed the positive momentum seen in recent sessions, with defensive and consumption-linked sectors outperforming.

Banking and market analyst Ajay Bagga said developments surrounding the proposed US-Iran agreement have played a key role in improving investor confidence.

"What we know is that the Iran-US MOU has been kept very vague and low on details on purpose, to help the Iranian moderates sell it domestically in Iran and to avoid Trump coming under intense criticism at home. Many more details have been discussed at back channels," Bagga said.

He added that the durability of the agreement remains uncertain and will depend on developments over the next two months.

"Whether these hold up over the next 60 days is a big question. We will see the signing on Friday, the MOU contents will be made public shortly afterwards," he said.
(ANI)

Iran news LIVE updates: As per the memo accessed by Bloomberg, the US and regional partners will work on redevelopment projects for Iran, as part of a war compensation. The memo adds that funds of at least $300 billion will be provided.

This clause, however, remains contested as US President Donald Trump has denied any sort of payment to Iran. Meanwhile, US Vice President JD Vance has stated that the 300 billion figure will focus on funds from Gulf nations.

“Not a single dime of that money comes from the United States,” Vance told NBC News. However, Vance added that the funds for Iran from Gulf nations will depend only if Tehran makes its "economy investable and starts behaving like a normal country."

While this $300 billion clause is yet to be confirmed, the memo adds that all sanctions against Tehran from the UNSC, IAEA and US government will be gradually lifted.

The draft further stated that the United States Treasury Department will issue waivers for the export of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance, and transportation, upon signing the agreement.

Iran news LIVE updates: Pushing back on complaints from Iran's national team that it was forced to leave the country immediately after its first FIFA World Cup match instead of having a day to recover in a hotel, the United States has said that was the plan for the team all along.

"We were clear this was the process," Andrew Giuliani, the executive director of the White House FIFA Task Force, told The Associated Press on Tuesday.

Iran coach Amir Ghalenoei said after Monday's night's 2-2 draw with New Zealand that the team had been ordered to leave the US and return to its training base in Mexico only a few hours later. Ghalenoei said the team had expected to spend the night in California to maximize the normal recovery process after its opening game.

Iran winger Mehdi Torabi's entry visa had also expired after the first game. Team officials confirmed Tuesday afternoon that they had secured him a new, multiple-entry visa allowing him to travel into the US for future matches.

"This issue has been resolved," the State Department said Tuesday. "As soon as we became aware of the issue, we worked to ensure that the player can participate in every game."

Iran news LIVE: The memorandum of understanding, as seen by Bloomberg, begins with the declaration to end the war on all fronts, including Lebanon. The agreement further states that neither the US nor Iran will engage in any hostile action against the other or use threats or force.

The first few points of the MoU call for a fresh 60-day period of negotiations between Washington and Tehran. As per previous statements from US officials, these negotiations will focus on Iran's nuclear ambitions and enrichment of uranium.

Upon signing the agreement, a few key changes will take place. These are -

Lifting the US naval blockade on Iranian ports and restoring traffic within a maximum of 30 days to its full capacity.

The removal of the blockade should allow the restoration of traffic at Iranian ports to pre-war levels.

The US will also withdraw its forces from the surrounding areas within 30 days after the final agreement.

The Strait of Hormuz will be reopened, and movement through the key strait will be restored to pre-war volume within 30 days, after taking into account the need for "the removal of technical obstacles and the neutralisation of mines by Iran."

Iran war LIVE: Oil prices fell more than 5% on Tuesday, extending this week's losses on hopes a U.S.-Iran deal to end the Middle East war will allow oil to flow through the Strait of Hormuz, while technology shares weighed on the S&P 500 and Nasdaq.

Details began to emerge of the U.S. and Iran's interim deal, with U.S. President Donald Trump saying it will rule out a nuclear weapon for Tehran and a U.S. official saying it allows Iran to sell oil upon signing.

Brent crude futures fell $4.21, or 5.1%, to settle at $78.96 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $4.70, or 5.8%, to $76.05.

SpaceX roared past Amazon's market valuation and briefly topped that of Microsoft, rapidly scaling the list of the world's most valuable companies on a topsy-turvy trading day fueled by frenzied action in the firm's newly listed options contracts. SpaceX, which started trading on the Nasdaq on Friday, was up 4.8% on the day.

"It's still really all about the exuberance of SpaceX and what SpaceX can pull along with it as far as the Nasdaq," said Bruce Zaro, managing director at Granite Wealth Management in Plymouth, Massachusetts. Tech shares could struggle to keep the momentum going, with second-quarter U.S. earnings still weeks away, he said.

(Reuters)