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US President Donald Trump said he had secured guarantees from Iran that it would not develop nuclear weapons, while reports emerged that Washington had sent Tehran a tougher peace proposal. Tehran has previously cast doubt on Trump's assertions and is demanding the release of $12 billion in frozen assets before substantive talks, with Lebanon also unresolved.
Japan has received another shipment of Russian oil from the Sakhalin-2 project as it seeks to diversify energy sources amid Middle East disruptions. The delivery, involving tanker Voyager, comes despite Japan's formal ban on Russian oil imports, with purchases tied to LNG contracts. A Japanese lawmaker has also suggested deeper energy cooperation with Russia could be beneficial.
Sri Lanka increased fuel prices by up to 6% on May 31, 2026, aligning with IMF conditions to phase out subsidies and recover energy costs. The move follows a $695 million IMF instalment and comes amid a global energy crisis triggered by the conflict in West Asia. Central bank also raised policy rates to combat inflation and currency depreciation.
Qatar's Deputy Prime Minister said the Gulf state opposes a permanent toll on the Strait of Hormuz but is open to temporary fees to help reopen the waterway. The statement comes amid Iranian plans to manage vessel traffic in the strait, a critical route for global LNG trade.
Malta held a snap parliamentary election on Saturday, with Prime Minister Robert Abela's Labour Party seeking a fourth consecutive term. The vote, called early due to the Iran war's impact on global markets, is dominated by economic issues such as rising rents and infrastructure strains. Opinion polls favor Labour, but the Nationalist Party's young leader hopes to unseat the incumbent.
Reports on US-Iran negotiations present conflicting pictures: some sources indicate a possible agreement to extend a ceasefire and reopen the Strait of Hormuz, while others highlight ongoing disagreements and skepticism from Tehran. The deal, if reached, would be a memorandum of understanding, with final approval pending from President Trump.
Iran insists no final agreement has been reached with the US, even as President Trump considers a deal following a two-hour Situation Room meeting. Tehran's Fars news agency disputes Trump's characterization, while Pentagon chief warns the US is ready to resume attacks if necessary.
US President Donald Trump has not yet decided on a proposed deal to extend the Iran ceasefire and reopen the Strait of Hormuz. Iran insists negotiations are ongoing and no final agreement exists, while both sides trade warnings and accusations amid continued regional tensions.
At the 23rd Shangri-La Dialogue in Singapore, US Defence Secretary Pete Hegseth delivered a keynote address that was notably less confrontational toward China than last year's, reflecting the recent Xi-Trump summit's impact. Regional concerns over Taiwan, the Iran war, and a deteriorating security environment dominated discussions, with China's delegation warning against 'hegemonism' and 'bloc confrontation'.
Reports indicate that the draft agreement between Iran and the United States has not been finalized and has undergone changes in recent days. While some sources suggest the two countries are close to a deal, others point to continued disagreements and ongoing indirect contacts.
Oil prices fell sharply on Friday and Monday amid growing investor optimism that the US and Iran may reach a ceasefire extension, potentially easing tensions that have disrupted global energy markets. Brent crude dropped below $100 a barrel for the first time in weeks, though analysts caution that a full recovery of oil flows could take months.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar met with US Secretary of State Marco Rubio in Washington, where they discussed bilateral relations and Pakistan's mediation efforts between the US and Iran. The meeting comes as reports indicate progress in extending the fragile US-Iran ceasefire, though the deal awaits President Trump's approval.
US Vice President JD Vance says Washington and Tehran have made progress toward a ceasefire extension, but disagreements remain over Iran's enriched uranium stockpile. President Trump has not yet approved any deal, while both sides warn of military action if negotiations fail.
The US Treasury has sanctioned eight vessels and over 15 entities linked to Iran's military oil trade, targeting revenue used for its armed forces. Washington also warned Oman against any involvement in tolling the Strait of Hormuz, while President Trump reportedly threatened military action. The move comes amid a tentative ceasefire agreement between the US and Iran.
US Vice President JD Vance acknowledged that key issues in US-Iran nuclear talks, including the enriched uranium stockpile and enrichment, remain unresolved, while expressing confidence that a deal is close. The US and Iran continue negotiations amid differing timelines and positions, with Vance stating the US will pursue a deal regardless of Israel's stance.
US and Iranian negotiators have agreed on a framework to extend the ceasefire for 60 days and launch talks on Iran's nuclear program, but the deal still awaits approval from President Donald Trump and Iran's leadership. The proposed agreement includes reopening the Strait of Hormuz and easing the naval blockade, amid ongoing skirmishes between the two sides.
US inflation reached a three-year high of 4.2% in May, driven by soaring energy prices linked to the US-Israel war against Iran. The Federal Reserve held interest rates steady, while political tensions over economic policy intensified. Consumer sentiment improved slightly as gas prices eased, though households remain pessimistic.
Russian Security Council Secretary Sergey Shoigu has warned that nuclear weapons could emerge in the Asia-Pacific region, citing the AUKUS pact and Japan and South Korea's preparations to host American nuclear arms. He also criticized Western policies, including missile defense deployments and the rejection of New START legacy, as destabilizing.
US and Iranian negotiators have agreed on a draft memorandum of understanding to extend the ceasefire for 60 days and launch talks on Iran's nuclear program, but the deal still requires President Donald Trump's approval. Reports indicate Trump has requested amendments related to the Strait of Hormuz and the removal of highly enriched uranium.
Iran and the US have exchanged new rounds of strikes, with Iran targeting US bases in Kuwait and Bahrain and Washington hitting Iranian drone operations, after President Trump dismissed reports of a near-term deal. The escalation threatens a fragile ceasefire and has sent oil prices surging.