Regional
New attacks on shipping as Iran war talks hit fresh impasse
Oil prices gained and global shares retreated amid renewed pessimism about a quick end to the conflict. Brent crude futures climbed 1.4% to settle at $88.91 per barrel and U.S. crude rose 1.3% to $83.20.
The U.S. and Yemen’s Iran-aligned Houthis reported separate attacks on shipping on Tuesday as prospects for ending the Iran war appeared to dim, with Tehran saying the Strait of Hormuz would remain closed unless Washington accepts its conditions.
The attacks, in the Gulf of Oman leading to the strait and at the entrance to the Red Sea — both vital chokepoints for global oil supplies — come as the war shows no signs of ending despite repeated assertions from U.S. President Donald Trump of a deal being imminent, Reuters reported.
Oil prices gained and global shares retreated amid renewed pessimism about a quick end to the conflict. Brent crude futures climbed 1.4% to settle at $88.91 per barrel and U.S. crude rose 1.3% to $83.20.
At the southern end of the Red Sea, four crew members were killed in a suspected Houthi attack on a small cargo vessel in the Bab el-Mandeb Strait on Tuesday, Yemen’s Transport Ministry said. Two Yemeni rescuers from an anti-Houthi military group were also killed, Yemen’s Coast Guard said.
The fatalities aboard the Egyptian-owned Tihamah would be the first deaths on shipping by Yemen’s Iran-aligned Houthis since the Iran war began.
The Houthi-run news agency Saba reported that the group, which said last month it would impose a naval blockade on Saudi Arabia in the Red Sea, attacked a Saudi ship carrying military equipment in the Bab el-Mandeb Strait. It did not name the ship, and there was no immediate Saudi response to the report.
The U.S. military, meanwhile, said a U.S. Navy MH-60 helicopter fired two Hellfire missiles to disable the steering gear of a Panama-flagged cargo ship.
The ship ignored repeated warnings to stop violating a naval blockade on Iranian ports, the U.S. Central Command said. Maritime sources told Reuters the ship was hit off Pakistan while sailing into the Gulf of Oman.
STEPPED UP RHETORIC
Both Iran and the United States have stepped up rhetoric in the past two days.
Iran’s top security official, Mohsen Rezaei, said on Tuesday that the vital Strait of Hormuz shipping route will remain closed unless the U.S. accepts Iran’s conditions to end the war – the release of Iran’s frozen assets and an end to conflicts throughout the region, including in Lebanon and Gaza.
That followed a new demand from Trump on Monday that Iran should pay compensation for people killed in 50 years of wars, attacks and protests.
Throughout the conflict, Trump has alternated between threats of escalation and claims that a peace deal is imminent.
In an interview released late on Monday, he suggested the uncertainty could last for a while, saying he might just “bop along” and let Tehran fail economically, or hit them “really, really hard.”
“I’m sort of negotiating,” Trump told Real America’s Voice. “They’re very devious negotiators.”
Speaking to reporters after a visit to Ohio on Tuesday, Trump said “Iran is going fine, going just absolutely fine.”
“We totally control the Strait of Hormuz … Nobody else, only us,” he said.
“At some point, maybe they’ll do something and then they get blown away,” he said of Iran. “But right now, we’re in a very good position. We have a country that has been the bully of the Middle East for 50 years, really 51 if you think about it … and they’re no longer the bully of the Middle East.”
Asked about an incident in which he switched planes in Turkey last month because of worries over reports of a potential Iranian assassination threat, Trump suggested the alternative aircraft may have faced greater risk.
“That would be the plane I think that they would be more likely to go for,” he told reporters after The Washington Post broke the story about him secretly taking a military flight instead of Air Force One in an operation involving him being moved between aircraft in a catering truck.
“Any consequential president has a lot of threats,” Trump added. “I don’t worry about anything.”
The comments from Rezaei, appointed on Sunday as second-in-command of the body that coordinates Iran’s security and foreign policy, were the strongest indication the Strait of Hormuz would not reopen to shipping anytime soon. The waterway handled a fifth of global oil and liquefied natural gas flow before the war.
“As long as America does not change its behaviour and does not accept Iran’s conditions, the Strait of Hormuz will not be opened,” Rezaei said, according to the semi-official Tasnim news agency.
There was no immediate comment from Washington on Iran’s latest comments.
Thousands of people have been killed in the conflict since the U.S. and Israel launched attacks on Iran on February 28.
Iran has struck U.S. assets and infrastructure in countries including Oman, Jordan, Kuwait, Israel, the United Arab Emirates and Saudi Arabia.
Raising the prospect of further escalation, Mohammad Reza Naqdi, an adviser to the commander of Iran’s Revolutionary Guards, said on Iranian state TV on Tuesday that the corps was developing the ability to carry out operations “on enemy soil.”
“We need to be able to move the operations to the enemy’s soil, whenever this is needed and ordered,” he said. “This is the characteristic of the offensive doctrine that has to be attained.”
Regional
Iran defends two-day proposal for peace talks after US rejects conditions
Iran defended a proposal on Monday to restart peace talks in as few as two days as the most reasonable offer on the table, after US Secretary of State Marco Rubio called some of Iran’s conditions “outrageous and ridiculous”.
Iran defended a proposal on Monday to restart peace talks in as few as two days as the most reasonable offer on the table, after US Secretary of State Marco Rubio called some of Iran’s conditions “outrageous and ridiculous”, Reuters reported.
“Is it unreasonable that Iran demands that US illegal sanctions and its naval blockade must be lifted before negotiations start and that the war should end on all fronts?” Foreign Ministry spokesman Esmaeil Baghaei told a weekly press conference in response to Rubio’s remarks.
Iran defended a proposal on Monday to restart peace talks in as few as two days as the most reasonable offer on the table, after US Secretary of State Marco Rubio called some of Iran’s conditions “outrageous and ridiculous”.
“Is it unreasonable that Iran demands that US illegal sanctions and its naval blockade must be lifted before negotiations start and that the war should end on all fronts?” Foreign Ministry spokesman Esmaeil Baghaei told a weekly press conference in response to Rubio’s remarks.
Regional
Explosions heard in areas in southern Iran, Iranian media report
Earlier on Saturday, Tasnim news agency said two missiles struck Qeshm Island with no official information on possible damage.
Explosions were heard on Saturday evening in several areas in southern Iran, including on Qeshm Island in the Strait of Hormuz, Iranian state television reported.
Iran’s state TV suggested that the explosions might be linked to Iranian military activities in the strategic waterway, which has become subject to repeated attacks on commercial shipping since the war erupted between the US and Iran in February.
It said Iranian officials have not confirmed any missile strikes on the areas, while the semi-official Tasnim news agency cited a source as saying that the explosions heard on Qeshm Island were not related to missile strikes.
Iran’s Revolutionary Guards Navy said early on Sunday that two oil tankers were on fire after hitting mines as they attempted to pass through an “unauthorized route” in the strait. It was not immediately clear if the incidents referred to by the IRGC were linked to the sound of explosions heard in southern Iranian areas.
Iran has hit vessels it says have violated its restrictions on passage through the waterway, as it seeks to assert control over the strait and exert pressure on Washington.
Earlier on Saturday, Tasnim news agency said two missiles struck Qeshm Island with no official information on possible damage.
The reported explosions come days after the US carried out strikes on the island. A US official said those strikes were limited and not a resumption of major combat operations.
The US military said on Saturday evening that its forces disabled a commercial vessel that tried to get through the US blockade of Iran.
The US Central Command said one of its aircraft fired at the vessel’s stern and disabled the ship after it attempted to violate the blockade.
Countries in the region had been anticipating that US President Donald Trump, who has held off on strikes on Iran during the weeks leading up to Tuesday’s midterm elections, could restart attacks once the voting was over. Iran has repeatedly said it would respond to new attacks by striking at US and Israeli targets in neighboring countries.
Regional
Pakistan’s leaders dread US Democrats’ win but its households are praying for it
Pakistan’s courtship of Trump, capped by its mediation in the Iran war, earned it a close relationship with his administration. That access has yet to deliver clear economic gains, and congressional scrutiny of Islamabad’s dealings with Trump’s inner circle now threatens the rewards its leaders hoped would follow.
Pakistan’s leaders spent two years courting US President Donald Trump, but after the Democrats’ win in Tuesday’s congressional vote, they are preparing for scrutiny of their access to the White House.
Ordinary Pakistanis see the result differently. Many hope the shift in Washington will ease a cost-of-living crisis intensified by the US-Israel war on Iran, Reuters reported.
“We believe meaningful negotiations with the current US administration are not possible, and the ongoing bloodshed will not end until there is a change in [the US] government,” Karachi resident Sajjad Ali said.
“We want peace, economic improvement and a reduction in the rising oil prices.”
Asim Zafar, also from Karachi, said he hoped the results would rein in Trump. “It could bring changes in important policies and perhaps help prevent some of the injustices being committed against Muslim countries,” he said.
But for Pakistan’s government and powerful military leadership, analysts say, the outcome is far more worrying.
Pakistan’s courtship of Trump, capped by its mediation in the Iran war, earned it a close relationship with his administration. That access has yet to deliver clear economic gains, and congressional scrutiny of Islamabad’s dealings with Trump’s inner circle now threatens the rewards its leaders hoped would follow.
A BET ON ONE MAN
The courtship began early in Trump’s second term, with army chief Asim Munir — who Trump has repeatedly described as his “favourite field marshal” — as Islamabad’s main channel to the White House.
Their June 2025 lunch took place unusually without Pakistani civilian officials present, which put the military at the centre of the rapprochement.
According to Pakistan’s military, their talks went beyond security to cooperation in mining, energy and cryptocurrency.
Pakistan then joined Trump’s Board of Peace and nominated him for the Nobel Peace Prize, crediting him with helping end its May 2025 conflict with India. New Delhi denies US mediation halted hostilities.
Earlier this year, Iran mediation gave the courtship strategic substance: Islamabad relayed messages and hosted April talks between the US and Iran, but the eventual Islamabad Agreement quickly faltered.
For consumers, Pakistan’s rising diplomatic influence has offered little protection from the war’s costs while the payoff for the state has also been thin. The US Export-Import Bank approved $1.25 billion for Pakistan’s Reko Diq copper and gold project in December 2025. But Pakistan’s signature $10 billion request for a US Treasury facility remains unanswered.
DEALS UNDER SCRUTINY
Pakistan’s outreach, public and private, now carries political risk because several arrangements involve Trump’s family or close associates.
Islamabad has signed memoranda to explore payments in USD1, a stablecoin issued by the Trump-linked World Liberty Financial. At the signing in January, Finance Minister Muhammad Aurangzeb said innovation should be “aligned with regulation, stability, and national interest.”
It has also signed another memorandum to redevelop Manhattan’s Roosevelt Hotel, a deal negotiated by envoy Steve Witkoff, and placed a limited drone order with Powerus, whose investors include Trump’s sons Donald Jr. and Eric.
“There are no conflicts of interest,” White House spokeswoman Anna Kelly told Reuters in September, when asked about Powerus.
Husain Haqqani, a former Pakistani ambassador to Washington and senior fellow at the Abu Dhabi-based Anwar Gargash Diplomatic Academy, said Pakistan’s leaders had “built a transactional relationship” with Trump’s team. Some arrangements involving the president’s friends and relatives “might not last,” he said. “Pakistan seems totally unprepared for that scrutiny.”
Daniel Markey, a senior fellow at the Washington-based Stimson Center, warned that investigations could taint the wider relationship if dealings appeared driven by private interests.
From Pakistan’s perspective, there may still be cards left to play, analysts said.
The Atlantic Council’s Michael Kugelman said Pakistan’s counterterrorism cooperation and Iran diplomacy enjoyed bipartisan support, and Democrats would be more likely to blame problematic deals on Trump than on Pakistan.
But “the risk for Pakistan is that it put so many of its diplomatic eggs in the White House basket that it won’t have anything left for the Democrats,” Kugelman said.
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