dailynewsnblog
Welcome
Hello and welcome to our live coverage of events in the Middle East.
Hours before the ceasefire between the US and Iran was due to expire, Donald Trump on Tuesday said he would extend it at Pakistan’s request while awaiting a “unified proposal” from Tehran, even as the US military maintained its blockade of Iranian ports.
The move comes as the White House put on hold vice-president JD Vance’s planned trip to Pakistan for a second round of truce talks with Iran, which has balked at further discussions.
Iran has said the US must end the blockade of its ports in order for negotiations to resume. But Trump and Treasury secretary Scott Bessent on Tuesday both warned that the US Navy blockade will continue. Tehran’s position has been it will only take part in talks if it believes discussions in Islamabad will yield results.
After Trump’s unilateral announcement, Pakistan’s president, Shehbaz Sharif, thanked the US president for extending the ceasefire with Iran, saying it would allow ongoing diplomatic efforts to proceed.
In a post on X, Sharif said he was expressing gratitude “on my personal behalf and on behalf of Field Marshal Syed Asim Munir” for Trump’s “gracious acceptance” of Pakistan’s request to extend the ceasefire.
Oil prices also wavered before Trump announced the extension, and the price for a barrel of Brent crude went from less than $95 to about $100 during the day. It settled at $98.48, up 3.1%.
In other developments:
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Israel and the Lebanon-based Hezbollah traded some fire on Tuesday. Hezbollah said it had fired rockets and drones at Israeli forces maintaining a buffer zone in southern Lebanon. In response, Israel said it had struck the launcher, calling Hezbollah’s strikes a blatant violation of the ceasefire.
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The US ambassador to Israel, Mike Huckabee, will be part of the US delegation for upcoming direct talks between Israel and Lebanon, according to CNN. Israel and Lebanon, will hold fresh talks in Washington on Thursday, a state department official said.
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The US Treasury’s Scott Bessent said that as a result of the US blockade, “in a matter of days, Kharg Island storage will be full and the fragile Iranian oil wells will be shut in”. In a statement posted on X, Bessent said the US “will continue to apply maximum pressure through Economic Fury to systematically degrade Tehran’s ability to generate, move, and repatriate funds”.
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Gen Majid Mousavi, the aerospace chief for Iran’s Revolutionary Guard, said oil facilities across the region would be harmed if neighbouring countries allow the US to carry out attacks. “If southern neighbours allow the enemy to use their facilities to attack Iran, they should say goodbye to oil production in the Middle East region,” he told Iranian state media.
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Britain will host military planners from over 30 countries for two days of talks starting Wednesday on a multinational mission led by the UK and France to protect navigation in the strait of Hormuz, the defence ministry said.
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Since the war started, fighting has killed at least 3,375 people in Iran and more than 2,290 in Lebanon, the Associated Press reports. Additionally, 23 people have died in Israel and more than a dozen in Gulf Arab states. Fifteen Israeli soldiers in Lebanon and 13 US service members throughout the region have been killed.
Key events
Trump’s musings on UAE’s wartime economy and ‘currency swap’ elicits denial
Donald Trump’s appearance on CNBC, where he discussed the state of the United Arab Emirates’ wartime economy, drew a quick response from the UAE’s ambassador to the US, denying his country was in financial strife because of the war.
Trump had said the US was considering helping the UAE financially, and spoke about a potential currency swap.
“It is,” Trump told CNBC on Tuesday when asked if a currency swap with the UAE was under consideration, calling them a good ally.
“They’re really led by incredible people … I mean, I’m surprised, because they are really rich,” he said.
“If I could help them, I would, I mean, we’re helping them much more with what we’re doing with the war,” Trump said, referring to the US-Israeli war with Iran.
The Wall Street Journal reported that the UAE’s central bank governor raised the idea of a currency swap line with the US Treasury secretary, Scott Bessent, and federal reserve officials in meetings in Washington last week, in case the war plunges the oil-rich country into a deeper crisis.
“If the UAE had a problem – I find it hard to believe – but if they had a problem, we would be there for them,” Trump said.
Later, Yousef Al Otaiba, the UAE’s ambassador to US, said he appreciated Trump’s recognition of the country as an important partner but maintained that the UAE’s economy remained resilient.
“Any suggestion that the UAE requires external financial backing misreads the facts,” he said in a statement posted on X by the embassy. “The UAE is one of the world’s most financially resilient economies, underpinned by more than $2 trillion in sovereign investment assets; more than $300 billion in foreign currency reserves held by the UAE’s central bank; and a banking sector with approximately $1.5 trillion in deposits.”
The UAE is an autocratically ruled federation of seven sheikhdoms on the Arabian Peninsula, and home to Abu Dhabi and Dubai.
While able to export some oil through a pipeline to the Gulf of Oman, the continued chaos around the strait of Hormuz has cut off a lot of its oil from reaching the market.
The war also has affected businesses in Dubai and the country’s long-haul carriers Emirates and Etihad.
Far-flung Pacific nations are reeling from the impact of a global fuel crisis.
Aid agencies have warned that the crisis has driven up prices for diesel, petrol and kerosene by as much as 70% in Papua New Guinea since the start of the Iran war.
Pacific Island nations are the most reliant on diesel for power generation worldwide, the International Finance Corp said in 2024.
Pacific countries imported about 2.2 million metric tons of gasoline, diesel, gasoil and jet fuel in 2025, largely from Singapore and South Korea, Kpler shiptracking data showed. But imports for the first half of April were just a quarter of the figure for all of March.
In Kiribati, people are struggling to get to work, school and access healthcare, a charity has warned. Meanwhile, Tuvalu and the Marshall Islands have both declared states of emergency.
The Cook Islands, Nauru and Papua New Guinea have moved to subsidise or cap rising fuel costs.
In Fiji, ministers agreed to take a pay cut of 20% to help shoulder some of the measures to offset fuel costs, though parliament must approve the change.
Donald Trump posted to Truth Social about 10 minutes ago, claiming Iran is “collapsing financially” and was losing $500m every day the strait of Hormuz is closed.
Iran is collapsing financially! They want the Strait of Hormuz opened immediately- Starving for cash! Losing 500 Million Dollars a day. Military and Police complaining that they are not getting paid. SOS!!!
Trump has posted about Iran several times on Tuesday (it has just gone 11.55pm in Washington DC).
“People approached me four days ago, saying, ‘Sir, Iran wants to open up the Strait, immediately.’ But if we do that, there can never be a Deal with Iran, unless we blow up the rest of their Country, their leaders included!,” Trump said in an earlier post.
Asian shares mixed, oil prices ease
Shares have been mixed in early trading across Asia, while oil prices have eased on hopes the US and Iran may resume talks to end their war.
The price of Brent crude edged 0.2% lower but was still above $98 a barrel. US benchmark crude fell 0.4% to $89.29 a barrel.
Japan’s Nikkei 225 gained 0.5%, the Kospi in South Korea edged 0.2% lower and Australia’s S+P/ASX 200 dipped 0.9%.
Hong Kong’s Hang Seng shed 1.3%, while the Shanghai Composite gained 0.1%. In Taiwan, the Taiex was up 1.1%.
In Tuesday trading on Wall Street, the S+P 500 added 1.2% to its leap from the day before, closing at 6,967.38.
Global inflation this year looks set to accelerate to 4.4% from 4.1% in 2025, according to the International Monetary Fund, which had earlier thought inflation would slow to 3.8%.
Welcome
Hello and welcome to our live coverage of events in the Middle East.
Hours before the ceasefire between the US and Iran was due to expire, Donald Trump on Tuesday said he would extend it at Pakistan’s request while awaiting a “unified proposal” from Tehran, even as the US military maintained its blockade of Iranian ports.
The move comes as the White House put on hold vice-president JD Vance’s planned trip to Pakistan for a second round of truce talks with Iran, which has balked at further discussions.
Iran has said the US must end the blockade of its ports in order for negotiations to resume. But Trump and Treasury secretary Scott Bessent on Tuesday both warned that the US Navy blockade will continue. Tehran’s position has been it will only take part in talks if it believes discussions in Islamabad will yield results.
After Trump’s unilateral announcement, Pakistan’s president, Shehbaz Sharif, thanked the US president for extending the ceasefire with Iran, saying it would allow ongoing diplomatic efforts to proceed.
In a post on X, Sharif said he was expressing gratitude “on my personal behalf and on behalf of Field Marshal Syed Asim Munir” for Trump’s “gracious acceptance” of Pakistan’s request to extend the ceasefire.
Oil prices also wavered before Trump announced the extension, and the price for a barrel of Brent crude went from less than $95 to about $100 during the day. It settled at $98.48, up 3.1%.
In other developments:
-
Israel and the Lebanon-based Hezbollah traded some fire on Tuesday. Hezbollah said it had fired rockets and drones at Israeli forces maintaining a buffer zone in southern Lebanon. In response, Israel said it had struck the launcher, calling Hezbollah’s strikes a blatant violation of the ceasefire.
-
The US ambassador to Israel, Mike Huckabee, will be part of the US delegation for upcoming direct talks between Israel and Lebanon, according to CNN. Israel and Lebanon, will hold fresh talks in Washington on Thursday, a state department official said.
-
The US Treasury’s Scott Bessent said that as a result of the US blockade, “in a matter of days, Kharg Island storage will be full and the fragile Iranian oil wells will be shut in”. In a statement posted on X, Bessent said the US “will continue to apply maximum pressure through Economic Fury to systematically degrade Tehran’s ability to generate, move, and repatriate funds”.
-
Gen Majid Mousavi, the aerospace chief for Iran’s Revolutionary Guard, said oil facilities across the region would be harmed if neighbouring countries allow the US to carry out attacks. “If southern neighbours allow the enemy to use their facilities to attack Iran, they should say goodbye to oil production in the Middle East region,” he told Iranian state media.
-
Britain will host military planners from over 30 countries for two days of talks starting Wednesday on a multinational mission led by the UK and France to protect navigation in the strait of Hormuz, the defence ministry said.
-
Since the war started, fighting has killed at least 3,375 people in Iran and more than 2,290 in Lebanon, the Associated Press reports. Additionally, 23 people have died in Israel and more than a dozen in Gulf Arab states. Fifteen Israeli soldiers in Lebanon and 13 US service members throughout the region have been killed.
