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The US Treasury Department has extended for another 30 days a sanctions waiver allowing countries to import Russian oil and petroleum products already loaded on tankers at sea. The move aims to ease oil supply shortages linked to the Iran war, with officials saying it will help vulnerable nations and reduce China's ability to stockpile discounted oil.
President Trump told the New York Post he is not open to concessions to Iran, including a 20-year uranium enrichment moratorium, and ruled out sanctions relief before a bilateral agreement. Iran has submitted a revised 14-point proposal, but the White House reportedly views it as insufficient.
South Korea's First Vice Foreign Minister Park Yoon-joo visited Washington to discuss the implementation of security and economic agreements from last year's summit, including Seoul's pursuit of nuclear-powered submarines and civil nuclear fuel rights. Meetings with senior U.S. officials and lawmakers highlighted both progress and challenges in the follow-through on these commitments.
The US administration has reportedly deemed Iran's latest proposal for ending hostilities 'insufficient for a deal,' while Tehran insists on its demands and reviews the US response. Pakistan serves as a conduit for the exchange of proposals, with the US expecting an answer within 48 hours.
Pakistan's KSE-100 index fell by 3,791 points (2.29%) on Monday, closing at 161,805.02, as investors reacted to stalled US-Iran negotiations and rising oil prices. The decline extended a six-session losing streak, with heavyweight stocks and broader Asian markets also under pressure.
A new wave of Somali piracy is threatening shipping in the Western Indian Ocean, with three vessels hijacked in recent weeks. Experts point to regional conflicts and reduced naval presence as enabling factors, while underlying issues like illegal fishing and weak governance persist.
The global energy crisis, exacerbated by Middle East tensions, enters a new phase with Brent crude surpassing $111 per barrel. Analysts warn of potential price spikes to $180 and risks of a global recession, while the European chemical industry faces plant closures.
Russian media report that the US and Israel are preparing new strikes against Iran, while Washington awaits Tehran's response to a proposal aimed at ending the conflict. Separate reports cover delays in Russia-Ukraine talks, potential extensions of oil waivers, and warnings of symmetric strikes over the Zaporozhye Nuclear Power Plant.
Iran's Supreme National Security Council has formally announced the creation of the Persian Gulf Strait Authority (PGSA) to manage the strategic waterway, a move that has drawn international attention amid ongoing tensions. The authority is set to regulate vessel passage, with provisions for tolls and specialized services, while the US has added it to sanctions lists.
Ryanair says it is increasingly confident it will avoid jet fuel shortages this summer, though fares may rise for late bookers. Meanwhile, easyJet reports summer bookings trailing last year and an unexpected £25m fuel cost in March, while both airlines hedge fuel needs and adjust pricing strategies.
A Reuters analysis cited by multiple outlets reports that the US-Israeli war on Iran has cost companies worldwide at least $25 billion, with 279 firms taking defensive measures. Toyota alone faces a £3bn hit, and air carriers account for $15bn of the total, as energy prices and supply chain disruptions persist.
British businesses are pausing investment and hiring plans as the Middle East conflict and domestic political uncertainty drive up costs, according to multiple surveys and reports. Key indicators show a contraction in services activity, falling payrolls, and a sharp drop in vacancies, prompting calls for coordinated G7 action.
US President Donald Trump has warned Iran that time is running out for a deal, saying 'there won't be anything left' if Tehran does not act fast. Iran's Foreign Ministry spokesperson stated that Tehran sees no need to respond to Trump's social media threats, focusing instead on national interests.
The White House announced China will buy at least $17 billion in US agricultural goods annually through 2028, adding to earlier soybean commitments. Analysts note the figure largely reflects prior deals, while farmers remain cautiously optimistic. The agreement includes restoring market access for US beef and poultry.
A drone strike near the UAE's Barakah nuclear power plant caused a fire but no radiation leak or injuries, authorities said. The UAE's foreign ministry called the incident a 'dangerous escalation' without naming a culprit, as speculation points to Iran amid stalled ceasefire negotiations.
Iran has appointed Parliament Speaker Mohammad Bagher Ghalibaf as a special representative for China affairs, a move analysts say underscores Tehran's commitment to Beijing amid shifting regional dynamics. The appointment, proposed by President Masoud Pezeshkian and approved by Supreme Leader Mojtaba Khamenei, comes as China emerges as a 'third space' for Middle East diplomacy.
Reports indicate the Trump administration has encouraged the UAE to become more directly involved in the conflict with Iran, with discussions reportedly including the seizure of Iran's Lavan Island. The UAE and Saudi Arabia have conducted secret strikes against Iranian targets in response to Iranian attacks, while the UAE has sought to coordinate with Gulf neighbors.
US Central Command has reported redirecting 109 commercial vessels since the naval blockade of Iran began on April 13. The figures have varied by date, with earlier reports citing 37, 50, 67, and 78 ships. Iranian officials have criticized the blockade, calling it piracy and terrorism.
Following talks with Chinese President Xi Jinping in Beijing, US President Donald Trump said he does not want Taiwan to pursue formal independence and is not looking to fight a war over the island. He reported making no commitment either way on Taiwan while remaining undecided on pending arms sales. Taiwan’s government restated that it is already a sovereign democracy and will maintain the status quo.
Iran's Foreign Minister Abbas Araghchi said in New Delhi that Washington has sent messages indicating openness to continued talks, yet Tehran remains distrustful of US intentions. He welcomed potential help from China and other nations, while noting that Pakistan's mediation is facing difficulties.