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Oil prices fall more than 5% after Trump pauses strikes on Iran

Oil prices

LONDON: Global oil prices fell by more than 5% after US President Donald Trump announced a pause in military strikes against Iran, easing concerns over potential disruptions to global crude supplies.

According to Reuters, the announcement followed nearly two weeks of US military operations targeting Iran and prompted investors to scale back fears of a broader regional conflict affecting energy markets.

Brent crude dropped $5.58, or 5.77%, to $91.20 per barrel, while U.S. West Texas Intermediate (WTI) crude fell $4.91, or 5.50%, to $84.40 per barrel.

Market analysts said expectations of reduced tensions between the United States and Iran, along with hopes for a diplomatic resolution, helped ease concerns over oil supply disruptions, leading to the sharp decline in prices.

US media reported that Trump ordered a halt to military operations after 13 days of strikes. It remains unclear whether the pause is temporary or marks the beginning of a broader ceasefire.

Trump says China, Russia pledged not to arm Iran

Trump says

WASHINGTON: US President Donald Trump said on Friday that the leaders of China and Russia had separately assured him their countries would not sell weapons to Iran amid heightened tensions in the Middle East.

In a post on his social media platform, Truth Social, Trump said he had discussed the issue with Chinese President Xi Jinping and Russian President Vladimir Putin during recent meetings. According to Trump, both leaders pledged that their governments would not provide arms to Iran.

Trump said he believes neither China nor Russia has an interest in becoming involved in the conflict, adding that such a move would be detrimental to both countries. He said he trusted Xi’s assurance, citing the relationship between Washington and Beijing.

Referring to Russia, Trump said Putin had offered a similar commitment despite Moscow’s ongoing involvement in the war in Ukraine. He also reiterated that the United States does not directly supply weapons to Ukraine, but sells arms to NATO member states, which then determine how the equipment is distributed.

There was no immediate official response from China, Russia, or Iran to Trump’s remarks. The comments come as tensions between the United States and Iran remain elevated, with the closure of the Strait of Hormuz disrupting global energy markets and international mediation efforts continuing to seek a ceasefire.

Trump’s ‘Islamic Republic of Japan’ remark goes viral

Trump

ANKARA: US President Donald Trump appeared to misspeak while discussing Iran on Wednesday, referring to the country as the “Islamic Republic of Japan” during remarks on the sidelines of the NATO summit in Ankara.

Speaking alongside Volodymyr Zelenskyy, Trump said the “Islamic Republic of Japan” had fired 111 missiles at the USS Abraham Lincoln before appearing to continue his remarks about Iran, prompting widespread attention online.

Video of the comments quickly circulated on social media, where users pointed to the apparent verbal mix-up between Iran and Japan.

The remarks came amid heightened tensions between Washington and Tehran following recent US military strikes on Iranian targets.

Trump also said he was dissatisfied with Iran’s actions, accused Tehran of launching drone attacks on US naval assets and warned that the United States could carry out additional strikes as early as Wednesday night.

The White House did not immediately comment on the apparent misstatement.

Trump says US will control Iran’s frozen funds under proposed aid arrangement

Trump says

WASHINGTON: US President Donald Trump said the United States would retain control of Iran’s frozen assets under a proposed arrangement that would use the funds to purchase American agricultural products for shipment to Iran.

In a statement posted on his social media platform, Trump said Iran had not yet received any funds and that no frozen assets had been released.

He also dismissed reports that Iran was collecting fees from ships transiting the Strait of Hormuz, warning that negotiations could be terminated immediately if false information was provided during the process.

Trump said the United States would oversee the management of Iran’s frozen funds and use the money to buy agricultural commodities from American farmers, including corn, wheat and soybeans, which would then be exported to Iran.

According to Trump, the proposal is aimed at addressing food shortages in Iran while supporting U.S. farmers.

He added that all goods purchased under the arrangement would be sourced from the United States.

The remarks come amid ongoing diplomatic efforts involving Washington and Tehran, although details of any final agreement regarding frozen Iranian assets have not yet been announced.

Trump rebukes Iran over alleged leak of agreement terms

Trump rebukes

WASHINGTON: US President Donald Trump has dismissed reports circulating on Iranian state media regarding the contents of a newly announced agreement with Iran, calling them “fake news” and inaccurate.

In a post on his Truth Social platform, Trump said that details being circulated by Iranian media have “nothing to do” with the written agreement reportedly reached between the two sides.

He said Iran had leaked false information about the deal, adding that such claims were misleading and did not reflect the actual terms agreed upon.

Trump also rejected Iranian assertions that a comprehensive agreement was close, calling those statements “weak and unfortunate” and insisting that no such finalization had been reached on those terms.

The US president further criticized Tehran’s negotiating approach, saying Iran had not engaged in good faith discussions and warning that the country should “get its act together quickly.”

Iranian state media had earlier reported that the proposed agreement could include provisions such as the unfreezing of $24 billion in Iranian assets, continued uranium enrichment, and Iranian control over the Strait of Hormuz.

However, Trump rejected these claims, saying they do not represent the official understanding between the two sides.

Trump signals progress toward strong deal with Iran

Trump signals

WASHINGTON: US President Donald Trump said the United States is close to reaching a “strong and effective” agreement with Iran, adding that diplomatic pressure, including restrictions on Iranian ports, has placed greater strain on Tehran than military action.

Speaking to reporters, Trump said Washington and Tehran were approaching a “very good, strong and powerful deal,” suggesting that negotiations were in their final stages.

He claimed the United States could continue military strikes on Iran for another two to three weeks if it chose to do so, but said such action would result in significant casualties, which he wants to avoid.

Trump said diplomatic engagement would be more effective than military operations and expressed hope that both sides could reach an agreement “stronger than war.”

The president also said that economic pressure and earlier U.S. measures had significantly weakened Iran’s economy, potentially pushing Tehran toward accepting a deal.

He added that wider bombing could have led to a prolonged closure of the Strait of Hormuz, with serious consequences for global energy supplies and the international economy.

Trump further expressed optimism about broader peace efforts in the Middle East, saying the parties involved were in the “final stages” of discussions.

When asked about the timeline, he suggested a potential breakthrough could emerge within the next two to three days.

His remarks come at a time of heightened regional tensions, with ongoing diplomatic efforts and ceasefire discussions between Iran and Israel drawing global attention.

Trump issues stark warning to Iran over nuclear talks

Trump issues

WASHINGTON: US President Donald Trump said Iran will either be forced into a deal or face severe consequences, warning of potential military and maritime action if negotiations fail.

Addressing a Coast Guard Academy graduation ceremony, Trump said that the United States had previously been weakened under the Biden administration, but claimed that Iran’s military capabilities, including its navy and air force, had been significantly diminished.

He said Iran would not be allowed to obtain nuclear weapons and claimed Tehran was eager to reach an agreement with Washington.

“If there is no deal, we will carry out strong strikes,” Trump said, adding that the United States could impose a maritime blockade under a plan he referred to as the “Steel Wall,” which he said would be impossible to break.

Trump further warned that the United States could seize additional Iranian oil tankers if an agreement is not reached, saying the situation would depend on whether Iran chooses to sign a deal or face escalation.

Trump reveals US prepared to strike Iran before last-minute pause

Trump reveals

WASHINGTON: President Donald Trump said that the United States was just one hour away from launching a military strike against Iran before the operation was halted to allow time for ongoing negotiations.

Speaking during a visit to a ballroom construction site, Trump said U.S. naval forces had completed preparations and were ready to begin the attack when he received a call requesting a short delay because an agreement with Iran appeared close.

Trump said Iran had caused instability across the Middle East for decades and reiterated that the United States would not allow Tehran to obtain nuclear weapons.

He said Iran was eager to reach a deal and had returned to the negotiating table. According to Trump, the U.S. would wait only two or three more days before deciding whether further action was necessary.

The president warned that larger strikes could still be carried out if talks fail, but said he hoped diplomacy would prevent the need for military action.

Trump also claimed that if Iran were to acquire a nuclear weapon, it would pose a direct threat to Israel and the broader region.

He said leaders in Saudi Arabia, United Arab Emirates and Qatar had expressed optimism that negotiations with Iran would produce positive results.

Trump added that Xi Jinping had assured him that China was not supplying weapons to Iran.

Trump blasts media again over queries on Iran war duration

Trump blasts media

WASHINGTON: US President Donald Trump reacted strongly during a White House briefing when questioned about the possible duration of the ongoing Iran conflict.

A journalist asked how long the situation between the United States and Iran might continue. In response, Trump criticized the media, calling parts of it “fake news” and saying that ground realities are not being accurately reported.

The US president claimed that Iran has already suffered significant damage amid the ongoing tensions.

When asked about a potential ceasefire, Trump said he should not be pressured into setting timelines, adding that compared to past conflicts such as Vietnam and Iraq, his administration has only been involved in the Iran situation for a few weeks.

He rejected suggestions that the United States is under pressure to end the conflict, stating that Iran should be given space to address its internal issues.

Responding to questions on fuel prices, Trump said there could be a temporary increase, but argued that the outcome would be worth it if Iran is prevented from acquiring nuclear weapons.

He further claimed that despite the conflict, oil prices remain lower than expected and the stock market is performing strongly.

Trump hints at Pakistan as venue for next US-Iran talks within two days

Trump hints

Washington: U.S. President Donald Trump has indicated that the next round of negotiations with Iran could take place in Pakistan within the next two days.

Speaking to a U.S. newspaper, Trump said Washington is increasingly inclined to choose Pakistan as the venue for the upcoming talks, adding that developments could unfold shortly.

He remarked that the likelihood of Pakistan hosting the dialogue is higher, praising the role of the country’s military leadership. Referring to Asim Munir, Trump described him as “outstanding” and credited his performance as a key reason behind the U.S. considering Pakistan again for diplomatic engagement.

Trump also recalled his contact with the Field Marshal during last year’s heightened tensions between Pakistan and India, noting that the situation de-escalated within four days through a peace understanding in which the United States played a role.

In response to a question, Trump said U.S. media should remain present in Pakistan, as “anything could happen” in the next couple of days.

According to the report, Trump had initially denied that a U.S. delegation was heading to Pakistan for talks but later called back to suggest that Pakistan could host the next round of negotiations.