Mediators voiced growing optimism that weeks of negotiations were nearing completion, while competing narratives from Washington and Tehran underscored lingering disagreements.

Iranian Foreign Minister Abbas Araghchi said the proposed framework would address issues including the U.S. naval blockade and the future administration of the Strait of Hormuz.

Speaking at an Oval Office event, Trump said Washington had achieved a "great settlement" and expressed confidence that an agreement extending the fragile ceasefire established in April could be finalized within days.

Foreign Minister Abbas Araghchi condemned the U.S. attacks and warned that Iran's armed forces would leave "no attack or threat unanswered", while urging foreign militaries to withdraw from the region.

The latest confrontation around the Strait of Hormuz threatens regional shipping security and comes despite renewed diplomatic efforts to stabilize multiple Middle East conflicts.

Both countries, however, warned that they were ready to launch retaliatory attacks if provoked. The renewed hostilities raised concerns that the Middle East could plunge back into a full-scale war.

Air raid alerts sounded across Israel, explosions were reported over Jerusalem, and Iranian state media reported blasts in Tehran, Tabriz and Isfahan.

Air raid alerts sounded across Israel, explosions were reported over Jerusalem, and Iranian state media reported blasts in Tehran, Tabriz and Isfahan.

The U.S. Treasury said the sanctions cover 12 entities, including companies based in the Marshall Islands, the United Arab Emirates and China, as well as several vessels allegedly involved in disguising Iranian LPG shipments as originating from Oman.

Trump also told aides he would not resume all-out war with Iran unless Tehran killed U.S. troops, while U.S. Central Command denied an Iranian claim that it had targeted a U.S. military vessel in the Gulf of Oman.

Iran's Revolutionary Guards Corps, meanwhile, said it had launched missile and drone attacks against the headquarters of the U.S. Fifth Fleet, as well as an airbase and helicopters in a regional country.

The meeting in Washington follows U.S. President Donald Trump's announcement that he had received commitments from both sides aimed at reducing tensions.

Beirut was bracing for a possible Israeli bombardment on Monday after Israel announced plans to strike the city's southern suburbs, raising fears that the fragile cease-fire between Israel and Hezbollah could unravel.

Iran said it fired on a U.S. military base in the region, while the United States reported strikes on Iran’s Bandar Abbas port. Later, Axios reported that Washington and Tehran had agreed on a memorandum of understanding to extend their ceasefire for 60 days.

Iran, which said its proposals presented to Washington included sanctions relief, the release of frozen funds, warned it would “open new fronts” against the United States if attacks resumed.

Pakistan is continuing to play a behind-the-scenes diplomatic role between the United States and Iran as tensions remain high over the ongoing conflict and negotiations.

The incident came hours after India condemned an attack on an Indian-flagged vessel off Oman’s coast, calling continued assaults on commercial shipping “unacceptable”.

The Pentagon on Tuesday revised the estimated cost of the war on Iran to nearly $29 billion, roughly $4 billion higher than the figure presented two weeks ago during Defense Secretary Pete Hegseth’s earlier testimony before Congress.

Shipping disruptions, sanctions and worsening humanitarian fears deepen global anxiety as Washington rejects Tehran’s latest peace proposal over nuclear concessions.

The United States on Friday announced a fresh round of sanctions targeting people and companies in China, Hong Kong, Belarus, and the United Arab Emirates for allegedly helping Iran acquire supplies and military equipment for its missile and drone programs.

The airline said it now operates to 137 destinations across 72 countries, with more than 1,300 weekly flights, representing about 75% of pre-disruption capacity. Services have resumed progressively across the Americas, Europe, Africa, West Asia and Asia-Pacific.

Iran has put forward a fresh 14-point proposal to the United States, calling for a resolution of tensions within 30 days and a complete end to the ongoing conflict in West Asia, according to state-linked media reports.

Mohammad Jafar Asadi's remarks came after Trump's assertion that he was dissatisfied with Iran’s latest offer, delivered through Pakistani mediators. Trump said he preferred a negotiated settlement but made clear military action remained an option.

Iran’s supreme leader Ayatollah Mojtaba Khamenei has issued a strong statement asserting that the United States should have no role in the future of the Persian Gulf, while outlining Tehran’s intent to manage the strategically vital Strait of Hormuz.

The Pentagon has estimated that the ongoing Iran war has cost the United States $25 billion and claimed 14 American lives, as Defence Secretary Pete Hegseth faced a tense Capitol Hill hearing.

The Wall Street Journal reported that U.S. officials said President Donald Trump had instructed aides to prepare for a sustained blockade of Iranian ports to increase pressure on Tehran. The move came after Iran warned of "unprecedented military action" if Washington continued seizing Iran-linked vessels.

The exchange came as regional tensions remained high and Iran intensified diplomatic efforts to secure a broader halt to hostilities, dispatching Foreign Minister Abbas Araghchi to Pakistan and preparing for talks in Moscow.

According to a new UNDP policy brief, the impact is most severe in countries directly affected by the fighting and those reliant on imported energy. However, poorer nations geographically distant from the conflict are also expected to face significant long-term setbacks.

Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February marked the fifth straight negative month, reflecting sustained selling pressure and deteriorating sentiment across the sector, writes Simon Peters, Crypto Analyst at eToro.

Iran has conveyed a fresh proposal to the United States through Pakistani intermediaries, seeking an agreement to reopen the Strait of Hormuz and bring the ongoing war to an end, according to an Axios report.

The asymmetry at the heart of this war’s economic geography is stark. The US imports relatively little oil through Hormuz. More than 80% of oil and LNG shipped through the strait in 2024 went to Asian markets, with China, India, Japan and South Korea the primary destinations, he adds.

The Bahrain Defence Force General Command (BDF) announced that its air defence systems have continued to successfully intercept successive waves of the Iranian aggression.

Several ports suspended operations in the Middle East after drone strikes. DP World said operations at Jebel Ali port in Dubai, one of the world's busiest container ports, had been suspended due to a fire after "aerial interception," he adds.

The dollar still functions as the world’s primary safe haven, and in moments of acute geopolitical uncertainty, capital flows toward US assets, particularly when positioning had been stretched against it.

OpenAI is facing online backlash after signing a deal with the United States Department of Defense to deploy its AI models within the department’s classified network.

With airspace across parts of the Middle East locked down and thousands of flights cancelled or delayed, King Khalid International Airport remains one of the few major hubs still operating.

Reports suggest some of Trump’s advisers would prefer Israel to initiate any strike, calculating that American public opinion would be more supportive if Washington were seen as backing an ally rather than acting unilaterally.

Iran’s Foreign Ministry spokesperson Esmail Baghaei described the negotiations as “very intensive” and said there were “constructive proposals” concerning both nuclear issues and sanctions relief.

Several governments have urged their citizens to leave Iran immediately, while others are pulling non-essential embassy personnel from sensitive locations, citing security concerns.

The renewed diplomacy comes as Washington has deployed two aircraft carriers, additional jets and ships, and reinforced air defenses across the region, heightening fears of potential strikes.

Indirect talks in Geneva have yielded what officials call “guiding principles” for a possible agreement, but the framework remains skeletal and major gaps still separate US demands from Iran’s red lines.

The Pentagon confirmed that the USS Gerald R. Ford is being moved from the Caribbean toward the Middle East, a voyage expected to take at least a week. The carrier will join the USS Abraham Lincoln strike group already operating in or near the region.

In interviews with Israeli media, Trump warned of consequences if negotiations fail. “Either we reach a deal or we'll have to do something very tough,” Israel's Channel 12 quoted him as saying.

Iran and the US resumed indirect nuclear talks on Monday in Muscat under Omani mediation, marking the first round of diplomacy in nearly eight months.

The discussions took place in Muscat, with the US delegation led by special envoy Steve Witkoff and the Iranian side headed by Foreign Minister Abbas Araghchi.

Iran’s President Masoud Pezeshkian has announced that he has instructed diplomats to pursue negotiations with the United States, signalling a possible easing of tensions after weeks of heightened military rhetoric and manoeuvres in the region.

Iran's supreme leader on Sunday likened recent anti-government protests to a "coup", warning that any US attack on the Islamic republic following Washington's military deployments in the Middle East would trigger a regional war.

Iran's top diplomat said Friday that his country's missile and defence capabilities would "never" be on the negotiating table, as US President Donald Trump appeared to cool on threats of a strike after a military build-up in the region.

Friday's visit by Iranian Foreign Minister Abbas Araghchi comes after US President Donald Trump threatened a military strike on Iran over its deadly protest crackdown this month and the lack of a nuclear agreement.

In his latest post on Truth Social, Trump did not mention the protests but said Iran needed to negotiate a deal over its nuclear programme, which the West believes is aimed at making an atomic bomb.