US president dismissed Iranian media reports agreement was close, despite earlier suggesting a deal could be signed this weekendMiddle East crisis – live updatesProspects for an immediate end to the war between Iran and the US remained uncertain on Friday amid a chaotic series of conflicting claims and counter-claims by US and Iranian officials about ongoing negotiationsDonald Trump seemed to distance himself from his earlier comments that suggested a preliminary agreement could be signed as soon as this weekend, with a series of angry social media posts describing the Iranians as “very dishonorable people to deal with”. Continue reading...
• President Donald Trump vowed to hit Iran "very hard tonight" following two days of intensified military strikes between the U.S. and Iran.
• Trump further threatened that the United States would eventually take over Iran's critical oil and gas sectors to cripple its economy.
• The escalation significantly increases the risk of a full-scale war in the Middle East, destabilizing an already volatile region.
Amid rhetoric, market uncertainty and tit-for-tit exchanges, the two sides are still trying to find a way out of the impasseGreat news! Donald Trump has said the US and Iran are on the verge of a peace agreement. Oil prices are down, and the stock market is up. This comes only hours after Trump warned Iran was about to be struck “VERY HARD”, a threat which had sent oil prices up and stocks down.It has been another ride on the Trump rollercoaster, keeping traders on edge, most of the world poorer, and people of the Middle East constantly whiplashing between fear and hope. But whether the ride veers up or down, the management always makes money. Continue reading...
Belligerent backdrop to tournament tests Fifa’s ‘football unites the world’ sloganIran will present a major challenge to Fifa’s “football unites the world” slogan on Monday by becoming the first country in World Cup history to compete on the soil of a host nation with which it is at war.The national team’s opening match against New Zealand in Los Angeles will kick off amid continuing hostilities between Iran and the US that have intensified in recent days, as a fragile ceasefire has failed to hold and attempts at reaching a negotiated settlement have sputtered. Continue reading...
Trump claims strikes called off as deal is close, but Tehran denies agreement near, while legal experts question if US targets may be a war crime. Plus 20 years of Taylor Swift’s incredible influence on pop cultureGood morning. Yesterday, Donald Trump spent the day promising he was going to hit Iran harder than ever before, then announced – again – that the US and Iran were close to signing a deal. Iran’s foreign ministry dismissed the claim, and Tasnim, the semi-official Iranian news agency, wrote that “until a potential understanding is announced by Iran, any news from Trump on this matter should be dismissed”.The Iranian foreign ministry spokesperson, Esmail Baghaei, said large parts of the text under negotiation had been finalised but Iran would not compromise on its red lines. Two days of escalating attacks between the warring nations had threatened to collapse the fragile ceasefire.What is the issue around the US choice of targets in Iran? Military strikes on 10 June that damaged two water storage facilities in southern Iran may constitute a war crime, legal and military experts say. The attack on the Bemani district destroyed a key reservoir serving about 20,000 people, raising critical legal questions over whether the strike hit a valid military objective or unlawfully targeted a civilian object.Why is there a legal challenge to the method? The method has raised concerns for its apparent brutality. Eugene Smith, the first person to die by nitrogen hypoxia, thrashed and writhed on the gurney, according to witnesses. The last nitrogen execution, of Anthony Boyd, appeared to take more than 30 minutes as Boyd shuddered and gasped. Continue reading...
Brent crude falls as optimism rises strait of Hormuz could reopen over the weekendBusiness live – latest updatesGlobal oil prices fell on Friday to lows not seen since the first week of the Iran crisis after Donald Trump claimed he was close to reaching a peace deal with Tehran.The price of Brent crude began to tumble from about $93 a barrel in overnight trade after the US president called off further military strikes against Iran which were scheduled for the evening. Continue reading...
US president says ‘great settlement’ reached but Iranian spokesman says there has been no final conclusionFull report: Trump claims US and Iran on verge of signing peace agreementHello and welcome to the Guardian’s continuing coverage of the crisis in the Middle East.Iran’s foreign ministry has contradicted claims from Donald Trump that a peace deal between Washington and Tehran could be signed as soon as this weekend.Trump said he was cancelling a third day of US airstrikes and bombings that he had earlier said would happen because “discussions” with Iran “have been brought to the highest level of Iranian leadership and approved”. He also said on social media: “Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others.”Israel, however, said it was “not a party to” what prime minister Benjamin Netanyahu’s office described as an emerging memorandum of understanding between the US and Iran. But the office said Netanyahu had spoken with Trump and that the final agreement at the conclusion of negotiations would include the removal of enriched material, the dismantling of enrichment infrastructure, limits on missile production, and the cessation of Iran’s support for its terrorist proxies in the region – measures that have been red lines for Iran in the past.The strait of Hormuz would open “as soon as we sign” the documents of the “great settlement” reached with Iran, Trump said. “The whole Middle East is happy.”Iranian media said the country’s forces had stopped a “violating tanker” from entering the strait of Hormuz. The report from the Fars news agency – closely linked to Iran’s Revolutionary Guards – came shortly after the sound of explosions were reportedly heard near the port city of Bandar Abbas.Trump had earlier posted on social media that the US would seize Iran’s Kharg Island “in the not too distant future”, but later said the seizure would be off the table “if we sign this agreement”.The price of oil rose after Trump threatened a “very hard” attack on Iran, but plunged hours later after he said he was cancelling the strikes. US West Texas Intermediate crude futures fell 1.9% to $86.08 a barrel, on top of a 2.6% drop overnight, and Brent dropped 1.5% to $89.08 a barrel, having fallen nearly 3% overnight. Asian stocks joined a global rally, with South Korea’s Kospi surging 7.4% and Japan’s Nikkei up 2.7%.A strike wounded 10 staff members of a hospital in the Lebanese city of Tyre on Thursday, the facility’s director told the AFP news agency, as Israeli raids continued in the country’s south. All three of the historic city’s hospitals have been hit since the start of the latest war between Iran-backed militant group Hezbollah and Israel in early March.India’s government voiced a “strong protest” after three Indian seafarers were killed in US military strikes against oil tankers travelling through the strait of Hormuz. Continue reading...
GDP hit by higher energy prices caused by Middle East conflict, after 3% rise in MarchThe UK economy contracted by 0.1% in April as the Iran war began to take its toll on growth, official figures show.As energy prices have risen as a result of the conflict, after Iran closed off the strait of Hormuz – a key shipping route for global trade – the UK’s strong expansion in the first quarter had been expected to slide into reverse. Continue reading...
Strikes on Bemani damaged key water reservoir for 20,000 people living in area amid a historic drought in the countryMiddle East crisis – live updatesMilitary strikes that damaged two water storage facilities in southern Iran may constitute a war crime, military and legal experts say, after reviewing media reports and visual evidence of a 10 June strike on Bemani, a small district about 2 miles from the strait of Hormuz.It’s unclear if the strikes deliberately targeted the district’s water tanks, or if they unintentionally destroyed a key reservoir for about 20,000 people living nearby. But if the tanks were the target, then the legal question becomes critical, Brian Finucane, a former state department lawyer, said. “It’s either a military objective or it’s a civilian object: attacking one is lawful, attacking the other is a war crime,” Finucane said. Continue reading...
• Major equity indexes rebounded on Thursday, recovering from sharp losses experienced during the previous trading session.
• The recovery was driven largely by gains in tech stocks and investor indifference toward President Donald Trump's warning that the U.S. "will be hitting Iran" tonight.
• This bounce back suggests that market participants are currently downplaying geopolitical tensions and specific corporate concerns, such as Oracle's data-center spending.