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South Korea's top officials, including President Lee Jae Myung and Prime Minister Han Seong-sook, have identified inflation as the government's foremost challenge, with consumer prices surging to multi-year highs. The government is mobilizing all available tools to stabilize prices and shield vulnerable populations from energy-driven cost increases amid Middle East conflict fallout.
Indirect talks between the United States and Iran in Doha have concluded with both sides reporting progress, including the establishment of a communications channel to address breaches of their memorandum of understanding. President Donald Trump says the denuclearisation of Iran is moving well, while mediators Qatar and Pakistan describe positive momentum.
Iran announced the establishment of a communication channel with the US to report breaches of the memorandum of understanding, following indirect technical talks in Qatar. The talks also covered the use of $6bn in frozen assets and progress on nuclear discussions, with US Vice President JD Vance stating the negotiations are going well.
A US Navy MH-60S Seahawk helicopter made an emergency water landing in the Arabian Sea on Wednesday, leaving one service member missing and three others injured but stable. The US military has suspended its search for the missing sailor, and the cause of the incident remains under investigation with no indication of hostile action.
Daily oil shipments through the Strait of Hormuz have exceeded 10 million barrels, according to a US administration official cited by Bloomberg. The increase follows the reopening of the waterway after the US-Israeli military operation against Iran, with Saudi Arabia conducting its largest shipment since February.
Israeli Prime Minister Benjamin Netanyahu has declared that Israeli forces will not withdraw from southern Lebanon as long as Hezbollah remains a threat, directly contradicting the US-Iran Memorandum of Understanding that calls for an immediate halt to fighting on all fronts. France has urged Israel to stop hostilities and called on the US to pressure Israel, as continued clashes threaten the fragile agreement.
A US-Israel-Lebanon deal signed on Friday aims to restore stability in Lebanon, focusing on disarming Hezbollah, after the US-Iran MoU failed to curb attacks. Israel continues to retaliate against Hezbollah, while critics question Netanyahu's handling of the agreement.
US and Iranian officials have begun indirect talks in Doha, Qatar, to discuss implementing a memorandum of understanding that includes a 60-day ceasefire and the reopening of the Strait of Hormuz. The talks cover the unfreezing of Iranian assets, the release of stranded seafarers, and Iran's plan to charge tolls in the strait, with Qatar and Pakistan serving as mediators.
Iran has stated it will carry out mine clearance in the Strait of Hormuz unilaterally, rejecting cooperation with other nations, after France and Oman announced a joint demining effort. The announcements come amid heightened maritime security concerns, with recent attacks on shipping and a lowered threat level.
Indirect talks between US and Iranian delegations, mediated by Qatar, have started in Doha. The discussions focus on the implementation of a memorandum of understanding, including Iran's frozen assets and shipping in the Strait of Hormuz. No direct meetings between the two sides are scheduled.
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.
US President Donald Trump has been briefed on options for broader military action against Iran but has, for now, chosen to continue diplomatic negotiations, according to the Wall Street Journal. The deliberations involved senior national security officials, and Trump remains open to limited retaliatory strikes in response to Iranian violations.
US and Iranian representatives are set to hold indirect meetings in Doha to discuss Lebanon, the Strait of Hormuz, and other issues. The talks follow a recent flareup and a US announcement that the two sides have agreed to refrain from hostilities, though Iran has yet to confirm.
South Korean stocks closed 2.04% lower on Wednesday as investors locked in gains from recent AI-driven semiconductor rallies, while uncertainty over U.S.-Iran peace talks weighed on sentiment. The KOSPI fell 173.07 points to 8,303.41, and the won weakened against the dollar despite record June exports.
Millions of households in Great Britain face fuel poverty as the energy price cap rises by 13% from Wednesday, adding more than £220 a year to typical bills. Campaigners and unions criticize the government's response, while wholesale price surges linked to the war in Iran are blamed for the increase.
Iran's chief negotiator Mohammad Bagher Ghalibaf said the country was unable to export any oil during the US blockade of its ports, but has since exported over 40 million barrels. He added that Iran prioritises diplomacy with the US while remaining ready for war.
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.
Qatar's Foreign Ministry says US-Iran negotiations are ongoing despite no high-level talks, with technical meetings continuing. A ceasefire and memorandum of understanding are in effect, but officials stress that guarantees depend on the situation on the ground.
US envoys Steve Witkoff and Jared Kushner met with Qatari mediators in Doha, while Iran denied plans for direct talks with the US, despite President Trump's claim. Qatar said no high-level meetings were planned, with indirect negotiations set to continue.
US Vice President JD Vance has stated that no tolls will be charged for ships passing through the Strait of Hormuz, countering a proposal reportedly submitted by Oman. Vance also expressed confidence in a US-Iran mechanism to keep the waterway open, noting that around 15 million barrels of oil have already been transported.