US Treasury secretary says Iran’s Kharg Island storage facilities will be full and their oil wells shut in mere days because of the blockade
If you’re just joining us, here’s the main news of the day. It is 9.30am in Tehran, 9am in Jerusalem and Beirut, and 2am in Washington DC.
Donald Trump unilaterally said he is extending the ceasefire with Iran at Pakistan’s request while awaiting a “unified proposal” from Tehran, even as the US military maintains its blockade of Iranian ports.
Trump made the announcement as ceasefire talks looked increasingly uncertain with a two-week truce set to expire on Wednesday. Both countries had said they were prepared to resume fighting if no deal is reached.
Trump said he would “extend the ceasefire until such time as [Iran’s] proposal is submitted, and discussions are concluded, one way or the other”.
Trump later claimed in a Truth Social post that Iran is “collapsing financially” and was losing $500m every day that the strait of Hormuz is effectively closed.
Iran has yet to decide whether to join the negotiations in Pakistan, a foreign ministry spokesman said earlier on Tuesday, and will only take part if Tehran believes the discussions would yield results.
A container ship has reported being fired at by an IRGC gunboat, the United Kingdom Maritime Trade Operations said. The incident occurred 15 nautical miles north-east of Oman. The vessel sustained “heavy damage” to its bridge, the master of the ship said. All crew members were reported as safe.
Shares were mixed in Asia as markets waited to see if the US and Iran may resume talks. Brent crude edged higher to $98.51 a barrel, while US benchmark crude fell 0.4% to $89.29 a barrel.
One person was killed and two others wounded in an Israeli drone strike overnight on the outskirts of al-Jbour in Lebanon’s western Bekaa Valley, Lebanese state media reported. Israel and Lebanon agreed to a 10-day ceasefire on Friday.
Since the war started, fighting has killed at least 3,375 people in Iran and more than 2,290 in Lebanon, the Associated Press reported. 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.
Iran’s Revolutionary Guards threatened to prevent oil production in the Middle East if the Islamic republic faced attacks launched from its Gulf neighbours’ territory.
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