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US officials are discussing a compromise that would allow Turkey to keep its Russian-made S-400 systems while rejoining the F-35 program, possibly by disabling parts of the air defense systems. President Donald Trump has indicated he does not see the S-400 purchase as an obstacle and announced he would lift related sanctions, though no final decision has been made.
Iran's strikes on commercial vessels in the Strait of Hormuz have unraveled the fragile US-Iran ceasefire, prompting US military retaliation and new missile attacks. The escalation has drawn international calls for de-escalation while the US declares the memorandum of understanding 'over'.
US President Donald Trump declared the ceasefire with Iran 'over' after fresh exchanges of fire, describing Iranian leaders as 'scum' and 'liars'. The remarks came amid US strikes on Iran and Iranian retaliation on bases in Bahrain and Kuwait, escalating tensions around the Strait of Hormuz.
Three tankers, including a Qatari LNG vessel, were struck in the Strait of Hormuz, prompting Qatar to summon Iran's deputy ambassador and warn of legal responsibility. The US revoked a licence for Iranian oil sales amid rising tensions over navigation fees and regional security.
NATO's 32 member states are holding two days of talks in Ankara, Turkey, to review progress since last year's summit in The Hague and address divisions over defence spending, the Ukraine war, and the Iran conflict. US pressure on allies to raise budgets to 5% of GDP, along with a fragile US-Iran ceasefire, dominate discussions.
A tanker was struck by an unknown projectile off the coast of Oman near the Strait of Hormuz, catching fire. The incident has heightened concerns over shipping security in the vital waterway, with reports of multiple vessels attacked and suspicion falling on Iran.
A tanker caught fire off the coast of Oman after being struck by a projectile in the Strait of Hormuz, according to UK maritime authorities. Iranian television said the tanker ignored warnings, but Tehran did not directly claim the assault. No casualties or environmental impact have been reported.
Seven OPEC+ producers, including Saudi Arabia and Russia, agreed to increase oil production quotas by 188,000 barrels per day from August, marking the fifth consecutive monthly hike. The move comes as shipping through the Strait of Hormuz gradually returns to normal following the US-Israeli war with Iran, though output remains below pre-conflict levels.
India is expanding domestic crude exploration following disruptions caused by the Middle East war and Strait of Hormuz restrictions. Oil minister Hardeep Singh Puri says the energy crunch has spurred efforts to tap unexplored areas, while India has diversified its crude suppliers from 27 to 41 countries.
Brent crude fell below $71 a barrel, reaching levels not seen since before the US-Israel war on Iran began, as Qatar reported 'positive progress' in US-Iran talks and US Energy Secretary Chris Wright said Hormuz flows are near pre-war levels. Prices have dropped more than 38% from their post-war peak, driven by easing supply concerns and cautious optimism.
Recent TASS reports highlight persistent tensions between the US and Iran despite ongoing negotiations, with the Strait of Hormuz and Lebanon ceasefire remaining key flashpoints. Meanwhile, the EU has postponed new Russia sanctions due to internal divisions, and NATO leaders are set to meet in Ankara amid disagreements over Ukraine, Iran, and the alliance's direction.
India is reportedly in early-stage talks with the UAE to sell defence systems including the BrahMos supersonic missile and Akashteer air defence system. The potential deal is seen as a step in India's push to become a serious arms exporter, though it would require Russia's approval for the BrahMos sale.
US President Donald Trump's 2025 financial disclosure shows over $1.4 billion in income from his family's crypto ventures, including nearly $800 million from World Liberty Financial and $635 million from meme coins. The figures highlight how crypto has become his primary income source amid policy changes favoring the industry.
Washington and Tehran are sending delegations to Doha for indirect technical talks mediated by Qatar and Pakistan, focusing on the Strait of Hormuz, Iran's nuclear program, and the release of $6 billion in frozen funds. However, Iranian officials insist no direct meetings with the US are planned, contradicting President Trump's claim that talks would take place.
US President Donald Trump says talks with Iran will take place in Qatar on Tuesday, but Iranian officials say no direct negotiations are planned, as the Strait of Hormuz remains a flashpoint.
India and the US have made significant progress toward a trade deal, but key issues remain unresolved, including tariff advantages and agricultural market access. Domestic protests in India and legal setbacks in the US add further complexity.
The United States and Iran have agreed to pause mutual attacks 'for now' and renew talks in Doha, Qatar, to resolve their dispute over the Strait of Hormuz. The agreement, reported by several outlets citing senior U.S. officials and Axios, comes amid recent escalation and technical negotiations continue, with Iran seeking management rights and the U.S. prioritizing free traffic through the strategic waterway.
South Korean stocks slipped Monday as renewed U.S.-Iran tensions and rising oil prices fueled caution, with tech shares leading declines. The KOSPI fell 16.56 points to close at 8,394.65, while the won weakened against the dollar. Analysts noted the ceasefire agreement helped ease near-term risks but lingering uncertainty persists.
South Korean stocks closed lower on Monday as renewed U.S.-Iran tensions and rising oil prices fueled investor caution, with tech shares leading declines. The KOSPI fell 0.2 percent, while Samsung Electronics and SK hynix dropped sharply before paring losses on investment news.
The United States and Iran have agreed to pause attacks and allow vessels to move freely through the Strait of Hormuz, according to a US official. Technical talks on the memorandum of understanding are set to resume on Tuesday in Qatar, following a weekend of tit-for-tat strikes that threatened the interim deal.