Regional
Trump threatens to strike Iran’s Kharg Island oil network if shipping lanes remain blocked
Trump told reporters on Friday the U.S. Navy will “soon” start escorting tankers through the waterway.
U.S. President Donald Trump threatened to order strikes on the petroleum infrastructure of Iran’s Kharg Island oil hub unless Tehran stopped attacking vessels in the vital Strait of Hormuz, a warning that could further roil markets already coping with a historic disruption in supply, Reuters reported.
Trump paired his ultimatum with a social media post saying the United States had “totally obliterated” military targets on the island, the export terminal for 90% of Iran’s oil shipments, which lies about 300 miles (483 km) northwest of the strait.
U.S. strikes did not target Kharg’s oil infrastructure, but “should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision,” Trump wrote.
Iran had no ability to defend against U.S. attacks, the president added. “Iran’s Military, and all others involved with this Terrorist Regime, would be wise to lay down their arms, and save what’s left of their country, which isn’t much!” he posted on Truth Social.
Iran’s armed forces responded on Saturday by saying any strike on their country’s oil and energy infrastructure would lead to strikes on facilities owned by oil companies cooperating with the United States in the region, Iranian media reported.
Iran’s semi-official Fars news agency reported, citing sources, that more than 15 explosions were heard on Kharg Island during the U.S. attacks. The sources said the attacks targeted air defenses, a naval base, and airport facilities, but caused no damage to oil infrastructure.
Markets were watching for any sign that U.S. strikes had damaged the island’s intricate network of pipelines, terminals and storage tanks. Even minor disruptions could further tighten global supply, adding pressure to an already volatile market.
In other strikes across the region, Iran’s Revolutionary Guard said early Saturday that it had carried out additional attacks on Israel with Lebanon’s Hezbollah militia, Iran’s Tasnim news agency reported.
On Friday, the Israeli military said its air force had struck more than 200 targets in western and central Iran over the past day, including ballistic missile launchers, air-defence systems and weapons production sites.
U.S. forces have suffered casualties. The U.S. military on Friday confirmed that all six crew members aboard a refuelling aircraft that crashed in western Iraq were dead, read the report.
Five U.S. Air Force tankers at a base in Saudi Arabia had been damaged by an Iranian missile strike and were being repaired, reported The Wall Street Journal, citing U.S. officials.
Oil prices have swung sharply on Trump’s changing comments about the likely duration of the war, which began on February 28 with massive U.S. and Israeli bombardments of Iran and quickly spread into a regional conflict with broad consequences for worldwide energy and stock markets.
Lebanon became an escalating flashpoint in the war with Israel’s military and Hezbollah forces exchanging strikes in and around Beirut.
In addition to Iran’s missile and aerial drone attacks on Israel and Gulf state allies of the U.S., Iran’s Islamic Revolutionary Guard Corps has sought to disrupt shipping through the Strait of Hormuz, a conduit for 20% of the world’s fossil energy supplies.
Trump told reporters on Friday the U.S. Navy will “soon” start escorting tankers through the waterway.
Although he has previously said the war would last only weeks, Trump on Friday declined to publicly project an end date for the conflict.
“I can’t tell you that,” he said to reporters. “I mean, I have my own idea, but what good does it do? It’ll be as long as it’s necessary.”
Iran continued to export crude oil while other producers in the Gulf halted their shipments for fear of Iranian attacks.
Multiple very large crude oil tankers were loading at Kharg on Wednesday, according to satellite imagery reviewed by TankerTrackers.com. Iran exported between 1.1 million barrels per day and 1.5 million bpd from February 28 to Wednesday.
Bob McNally, president of Rapidan Energy Group, said Trump’s comments on Friday “will focus the market’s mind on pathways that this energy disruption, already history’s largest, could expand and last longer.”
Some energy industry observers expressed doubts that Kharg’s oil facilities would stay intact.
“Bombing Kharg Island but not the oil infrastructure is like going to McDonald’s and getting a hamburger with no meat,” said Josh Young, chief investment officer at Bison Interests. “What’s the point?”
Iran’s new supreme leader, Mojtaba Khamenei, in his first public comments on Thursday, vowed to keep the Strait of Hormuz shut and urged neighbouring countries to close U.S. bases on their territory or risk being attacked themselves.
European powers are trying to work out how to defend their interests, and France has been consulting with European, Asian and Gulf Arab states over the past week with a view to putting together a plan for warships eventually to escort tankers through the strait, French officials said.
After nearly two weeks of war, 2,000 people have been killed, most in Iran, but many in Lebanon and a growing number in the Gulf, which has for the first time in decades of Middle East conflicts found itself on the front line.
Several million people have been displaced from their homes. As Israeli warplanes pounded Beirut’s suburbs with air strikes, Lebanon’s interior minister said authorities were unable to accommodate the hundreds of thousands of people who have sought refuge in the capital.
Regional
US and Iran presidents sign ceasefire agreement, but Trump says he could still resume attacks
The 14-point agreement extends a ceasefire announced in April by another 60 days, including in Lebanon, to allow the two sides to negotiate a final truce.
The U.S. and Iran released the text of an interim agreement their presidents have signed to end their war on Wednesday, with U.S. President Donald Trump threatening to resume attacks and kill Iranian officials if they failed to honour their commitments, Reuters reported.
Trump, attending the G7 with other leaders in France, also withdrew at least one of his stated rationales for attacking Iran in the first place, saying it would be “unfair” for Tehran not to have ballistic missiles, having previously vowed to obliterate them.
“We’re going to bomb the hell out of them if they violate the agreement,” Trump said of Iran at a press conference. “I don’t want them to. I want them to honor the agreement.” He also called Iranians “smart people” as U.S. and Iranian negotiators work on a permanent truce over the coming 60 days, which Trump said he hoped would usher in peace in the Middle East and lower oil prices.
Earlier, he had said: “If I don’t like it, if they don’t behave, we’ll go right back to dropping bombs right smack in the middle of their head, OK?”
Iran’s leaders did not address the new threats while celebrating the moment, releasing photographs of what is believed to be the first agreement signed by both a U.S. and Iranian president since the Islamic Republic’s founding in 1979.
“Everything we sought to achieve through military action, we obtained several times over through negotiation; it was not even comparable,” Iran’s lead negotiator Mohammad Baqer Qalibaf told state television about the agreement, which includes the unfreezing of billions of dollars in Iranian assets.
The U.S. and Israel launched the war on Iran on February 28, assassinating the 86-year-old Supreme Leader Ayatollah Ali Khamenei and military leaders on the first day. It quickly spiralled into a regional conflict that has killed more than 7,000 people, mostly in Iran and Lebanon; driven up energy prices; renewed inflationary pressures and sparked concerns about a major food supply crisis in developing countries.
The 14-point agreement extends a ceasefire announced in April by another 60 days, including in Lebanon, to allow the two sides to negotiate a final truce. Both Trump and Iranian President Masoud Pezeshkian have digitally signed the memorandum in English and Farsi, U.S. and Iran officials said, with Iran’s foreign ministry saying the agreement was already in effect as of Wednesday, read the report.
Trump signed just before a grand dinner with French President Emmanuel Macron at the Palace of Versailles, the site of the signing of the eponymous treaty that formally ended World War One.
The memorandum includes an immediate end to the war on all fronts, including Lebanon, the full resumption of maritime traffic “with no charge” in the Strait of Hormuz, the lifting of a U.S. blockade of Iranian ports, the waiving of U.S. sanctions on Iran, the unfreezing of its assets, and a $300 billion investment fund for the Islamic Republic’s post-war reconstruction.
Oil prices fell again on Wednesday on prospects for the reopening of the Hormuz, the slender, vital waterway between Iran and Oman, with Brent crude futures below $80, at their lowest level since the war’s start. They later regained more than 1% after Trump threatened renewed violence.
Iran also undertakes not to build nuclear weapons, reaffirming a vow it had made for decades. It also agreed to the on-site “down-blending” of its stockpile of enriched uranium under the supervision of the International Atomic Energy Agency, although Trump had wanted to take it out of the country, which Iran has rejected.
Despite his combative rhetoric, Trump appears to have achieved little of what he said he wanted in going to war, while Iran appears much closer to sanctions relief worth billions of dollars than before it was attacked.
Iran’s theocratic government remains in place, its stockpile of highly enriched uranium has not been surrendered, its ballistic missile capabilities have not been destroyed and it has not ended its support for anti-Israel militias like Hezbollah in Lebanon.
Trump recanted his February promise to destroy all of Iran’s missiles and “raze their missile industry to the ground.”
“I’m saying that if other countries have them, it’s a little bit unfair for them not to have some,” Trump told reporters in Paris after leaving the summit.
G7 leaders hailed the agreement at their summit, held in the French town of Evian-les-Bains, an hour’s drive along the shore of Lake Geneva from where the U.S. has said a formal signing ceremony for the U.S.-Iran agreement was due to be held across the Swiss border on Friday, Reuters reported.
But Iranian foreign ministry spokesperson Esmaeil Baghaei cast doubt on this, telling IRIB’s News Network that, because the two presidents had already signed, “No signing ceremony will be held in Switzerland.”
European leaders share U.S. concerns about Iran’s nuclear program, but never endorsed his decision to go to war without United Nations authorization, and worry Iran has gained leverage by withstanding the superpower onslaught and asserting control over the strait.
The leaders of France, Germany, Britain, Japan, Italy, Canada and the U.S. demanded in a joint statement an immediate ceasefire in Lebanon, where the memorandum calls for a halt to hostilities between Israel and the Iran-backed Hezbollah group that have killed thousands of people and displaced more than a million more.
Fighting there has abated but not ceased since the agreement was reached on Sunday, and Israel, which was not part of the negotiations and whose military is occupying southern Lebanon, says it retains the right to use force.
Trump on Wednesday gently rebuked Israeli Prime Minister Benjamin Netanyahu, who has distanced Israel from the U.S.-Iran agreement, over his tactics in Lebanon against Hezbollah. The two men have repeatedly clashed over Israel’s refusal to constrain its pursuit of Hezbollah in Lebanon, where a cessation of hostilities is a key Iranian demand, read the report.
“Netanyahu happens to be a good man, gets a little excited sometimes,” Trump told reporters. “We have a little dispute over Lebanon. I say you can do a little softer touch, Bibi,” he said, using Netanyahu’s nickname. “You don’t have to knock down a building every time somebody walks into it that’s from Hezbollah.”
Lebanese state media reported fresh Israeli air strikes and artillery fire in several southern towns throughout Wednesday. Lebanese security sources said Hezbollah had also launched two drone attacks on Israeli forces in the south. The group did not publicly claim the attacks.
Israel later said five of its soldiers had been injured in two Hezbollah drone attacks in southern Lebanon.
Regional
Global leaders react to announcement of US-Iran peace agreement
British Prime Minister Keir Starmer: “We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz… Iran must never have a nuclear weapon.”
U.S. and Iranian officials said on Sunday they have agreed on a deal to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, possibly leading to lower energy prices once oil shipments resume through the critical waterway, Reuters reported.
Below is international reaction to the agreement:
A spokesperson for U.N. Secretary-General Antonio Guterres:
“The Secretary-General welcomes the announcement that the United States and Iran have agreed on a peace deal that provides for an immediate and permanent ceasefire, the reopening of the Strait of Hormuz, as well as a framework for further negotiations. This represents a critical step towards the peaceful settlement of the conflict.”
Joint statement from E4 leaders Britain, France, Germany and Italy:
“Iran must never acquire a nuclear weapon. We stand ready to work with the U.S., Iran and the IAEA to this end.”
Australian Prime Minister Anthony Albanese:
“The Australian Government welcomes the agreement by the United States and Iran. Australia has long called for de-escalation and an end to the conflict, including in Lebanon. As we have said, the longer this war goes on, the greater the impact will be. Continued restraint and constructive engagement will be essential to prevent further escalation and secure a lasting agreement.”
British Prime Minister Keir Starmer:
“We are clear that toll-free freedom of navigation must now be restored in the Strait of Hormuz… Iran must never have a nuclear weapon.”
French President Emmanuel Macron:
“I welcome the agreement reached between the United States and Iran, the result of a diplomatic effort to which several partners contributed. I call for its swift and full implementation by all belligerents. This agreement must allow for the urgent and unconditional reopening of the Strait of Hormuz, which the international mission established with the United Kingdom is ready to support.”
German Chancellor Friedrich Merz:
“I welcome the agreement between the U.S. and Iran and congratulate President Trump and the Iranian side on this diplomatic breakthrough. This can pave the way towards a reinvigorated global economy and a more secure Middle East. It is crucial to implement it with determination.”
Japanese Prime Minister Sanae Takaichi:
Japan “strongly hopes” that “free and safe navigation through the Strait of Hormuz will be ensured in practice, and that a final agreement on Iran’s nuclear issue and other matters will be reached as soon as possible.”
New Zealand Foreign Minister Winston Peters:
“This pivotal, constructive deal is a step towards reducing tensions and promoting stability in a region that is critical to global economic security… Dialogue and diplomacy remain the most effective means of resolving longstanding issues.”
Regional
Iran banks hit by major cyber attack
Officials said a technical investigation confirmed that the disruptions were the result of a cyberattack.
Several major Iranian banks experienced service disruptions on Saturday following a cyberattack, according to the Coordinating Committee of Iran’s state-owned banks.
The outage affected four major financial institutions, including Bank Melli Iran, Bank Saderat Iran, and Bank Tejarat, causing interruptions to mobile and online banking services, automated teller machines (ATMs), point-of-sale (POS) terminals, and some card transactions.
Officials said a technical investigation confirmed that the disruptions were the result of a cyberattack.
The affected banks stated that their technical teams immediately implemented precautionary measures after detecting the incident in an effort to safeguard customer information and protect banking infrastructure.
Qatasi, secretary of the Coordinating Committee of Iran’s state-owned banks, said necessary recovery and repair measures had been carried out.
Authorities said there is currently no evidence that customer data was accessed without authorization, and no data breach has been reported.
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