Politics
US, Iran closing in on one-page memo to end over two-month-long war, reports Axios

- Trump claims ‘great progress’ towards agreement.
- Iran demands fair, comprehensive deal in talks.
- Brent oil price drops under $100 on deal hopes.
The United States and Iran are closing in on an agreement on a one-page memorandum to end the war in the Gulf, a source said.
The source said a report earlier by the US media outlet Axios on the proposed memorandum was accurate. The Axios report had cited two US officials and two other sources familiar with the discussions.
“We will close this very soon. We are getting close,” the source added.
Last month, Pakistan hosted the war’s only peace talks so far, and it has continued in that role of mediator, ferrying proposals between the sides.
Reports of the possible agreement to end the war caused global oil prices to plunge, with benchmark Brent crude futures falling more than 8% to around $100 a barrel LCOc1. Global share prices also leapt and bond yields fell on optimism of an end to a war that has disrupted energy supplies.
The White House, the State Department and Iranian officials contacted by Reuters did not immediately respond to requests for comment. US news channel CNBC quoted a spokesperson from the Iranian foreign ministry as saying Tehran was evaluating a 14-point US proposal.
Axios reported that the White House believed it was closing in on a one-page memorandum to end the war with Iran. The report came hours after US President Donald Trump paused a three-day-old naval mission to reopen the Strait of Hormuz.
The Axios report said the US expected Iranian responses on several key points in the next 48 hours.
Among other provisions, Axios said, the deal would involve Iran committing to a moratorium on nuclear enrichment, the US agreeing to lift its sanctions and release billions of dollars in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.
14-point MoU
The one-page, 14-point memorandum of understanding was being negotiated between US envoys Steve Witkoff and Jared Kushner and several Iranian officials, both directly and through mediators, Axios said.
In its current form, the memorandum would declare an end to the war in the region and the start of a 30-day period of negotiations on a detailed agreement to open the strait, limit Iran’s nuclear programme and lift US sanctions, Axios added.
Iran’s restrictions on shipping through the strait and the US naval blockade of Iran would be gradually lifted during that 30-day period, Axios said, citing one US official who added that if the negotiations collapsed, US forces would be able to restore the blockade or resume military action.
Earlier, Trump announced a pause to “Project Freedom”, a mission he announced on Sunday to guide ships through the blocked strait.
The mission had failed to bring about any significant resumption of traffic through the waterway, while provoking a new wave of Iranian strikes on ships in the strait and on targets in neighbouring countries.
In the latest incident, a French shipping company reported on Wednesday that one of its container ships had been struck in the strait the previous day, and that the injured crew had been evacuated.
In announcing he was pausing the mission, Trump cited “great progress” in negotiations with Iran, without giving further details.
“We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalised and signed,” Trump wrote on social media.

Trump had launched the naval mission to guide ships through the strait after saying he was likely to reject Iran’s latest proposal. The Iranian offer, made last week, also contained 14 points.
It had called for setting aside discussion of nuclear issues until after the war ended and the shipping dispute was resolved.
In comments on a visit to China on Wednesday, Iran’s Foreign Minister Abbas Araqchi made no mention of Trump’s latest remarks, but said Tehran was holding out for “a fair and comprehensive agreement”.
Strait shut since end of February
Iran has effectively shut the Strait to all shipping apart from its own since the United States and Israel launched the war on February 28. In April, Washington imposed its own separate blockade of Iranian ports.
Trump’s Project Freedom mission to use the US Navy to open the strait failed to persuade merchant ships that it was safe, while provoking new attacks from Iran, which said it was expanding the area under its control to include swathes of the coastline of the United Arab Emirates, on the strait’s far side.
While the mission was in effect, Iranian drones and missiles hit several ships in and around the strait, including a South Korean cargo vessel that reported an explosion in its engine room.
Tehran also repeatedly struck targets in the UAE, including the only major Emirati oil port on the coast beyond the strait, which has allowed some exports without crossing through it.
Politics
Trump pauses effort to escort ships in Hormuz at ‘Pakistan, others’ request’

- Trump says great progress made towards deal with Iran.
- Rubio says operations in Strait of Hormuz are defensive.
- Iran denies attacking United Arab Emirates in recent days.
US President Donald Trump said on Tuesday he would briefly pause an operation, labelled as “Project Freedom”, to help escort ships through the Strait of Hormuz after a request from Pakistan and other countries, while citing “great progress” toward a comprehensive agreement with Iran.
Hours earlier, US Secretary of State Marco Rubio had outlined the effort that began on Monday to escort stranded tankers out of the Gulf. The strait has been virtually shut since the conflict began, blocking some 20% of world oil supplies and igniting a global energy crisis.
“We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom … will be paused for a short period of time to see whether or not the Agreement can be finalised and signed,” Trump wrote on social media.
There was no immediate reaction from Tehran, where it was early on Wednesday morning.
Following the announcement, Prime Minister Shehbaz Sharif expressed gratitude to US President Trump for his “courageous leadership and timely announcement” regarding the pause in Project Freedom in the Strait of Hormuz.
“President Trump’s gracious response to the request made by Pakistan and other brotherly countries, particularly the Kingdom of Saudi Arabia and my dear brother Crown Prince and Prime Minister of Saudi Arabia Prince Mohammed bin Salman, will go a long way towards advancing regional peace, stability and reconciliation during this sensitive period,” he wrote on X.
PM Shehbaz noted that Pakistan remains firmly committed to supporting all efforts that promote restraint and a peaceful resolution of conflicts through dialogue and diplomacy.
“We are very hopeful that the current momentum will lead to a lasting agreement that secures durable peace and stability for the region and beyond,” he added.
Shortly after Trump’s post, US crude oil futures fell $2.30 and broke below $100 per barrel, a much-watched threshold since the conflict sent energy prices soaring two months ago.
The White House did not immediately reply to a request for comment on what progress had been made, or how long the pause would last.
Rubio and other senior administration officials said earlier on Tuesday that Iran could not be allowed to control traffic through the strait.
Iran has effectively sealed off the strait by threatening to deploy mines, drones, missiles and fast-attack craft. The United States has countered by blockading Iranian ports and mounting escorted transits for commercial vessels.
The US military said on Monday it had destroyed several Iranian small boats, as well as cruise missiles and drones.
Rubio says main operation is over
Rubio told reporters at the White House that the United States had achieved its objectives in its military campaign, which was launched on February 28 alongside Israel.
“Operation Epic Fury is concluded,” Rubio said. “We’re not cheering for an additional situation to occur.”
One of Trump’s central objectives in launching military strikes against Iran was to ensure Tehran does not develop a nuclear weapon, something Tehran has denied seeking. However, Iran has not handed over more than 900 pounds of highly enriched uranium.
While Rubio was speaking, Britain’s Maritime Trade Operations agency reported that a cargo vessel had been struck by a projectile in the strait. Further details of the incident were not immediately available.
US Defense Secretary Pete Hegseth said earlier on Tuesday that the US had successfully secured a path through the waterway and that hundreds of commercial ships were lining up to pass through. The four-week-old truce with Iran was not over, he added.
“Right now the ceasefire certainly holds, but we’re going to be watching very, very closely,” he said.
General Dan Caine, chairman of the US Joint Chiefs of Staff, said Iranian attacks against US forces fell “below the threshold of restarting major combat operations at this point”.
Asked what Iran would need to do to violate the ceasefire, Trump said: “They know what not to do.”
Pakistan’s mediation efforts continue
Pakistan has emerged as a key intermediary in efforts to revive dialogue, hosting high-level engagements between the two sides in Islamabad last month, though a second round of talks has yet to materialise.
The war has killed thousands as it has spread beyond Iran to Lebanon and the Gulf, and roiled the global economy. The head of the International Monetary Fund said on Tuesday that even if the conflict ended immediately, it would take three to four months to deal with the consequences.
Rubio said 10 civilian sailors were among those who had died in the conflict, adding that crew on vessels stranded in the waterway were “starving” and “isolated.”
Trump told reporters in the Oval Office that Iran’s military had been reduced to firing “peashooters” and Tehran wanted peace, despite public sabre-rattling.
The conflict is also pressuring Trump’s administration ahead of crucial midterm elections in November, as rising gas prices hit voters’ pockets.
Trump has said the US-Israeli attacks aimed to eliminate what he called imminent threats from Iran, citing its nuclear and ballistic missile programs and its support for Hamas and Hezbollah.
Iran has called the attacks a violation of its sovereignty and said that it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.
Diplomatic efforts to end the conflict have yet to yield results. US and Iranian officials have held one round of face-to-face peace talks, but attempts to set up further meetings have failed.
Iranian Foreign Minister Abbas Araqchi has said that peace talks were still progressing with Pakistan’s mediation.
He arrived in Beijing on Wednesday morning for talks with his Chinese counterpart on bilateral ties and regional and international developments, Iranian media reported. Trump is also due to visit China this month.
Politics
US declares Iran offensive over, warns force remains an option

- US, Gulf allies drafted UNSC resolution over Iran laying of mines.
- Rubio calls Hormuz resolution test for UN, urges against vetoes.
- US says ready to unleash “devastating” response to any new attacks.
The United States has completed its offensive operations against Iran, Secretary of State Marco Rubio said Tuesday, even as Washington warned it was ready to unleash a “devastating” response to any new attacks on shipping in the Strait of Hormuz.
Rubio’s remarks came after Washington’s top military officer said American forces remain ready to resume combat operations if ordered, as clashes in the vital waterway threatened to unravel a fragile ceasefire.
Iran’s Revolutionary Guards navy warned of a “firm response” if ships deviated from its approved route through the strait, as the country’s chief negotiator said Tehran “had not even started yet,” following a spate of attacks in the crucial trade route.
The United Arab Emirates announced it was intercepting a barrage of missiles and drones from Iran for a second day — a claim Tehran “categorically” denied.
“The armed forces…did not launch any missile or drone operation,” Iran’s Khatam al-Anbiya command said.
Iran fired missiles and drones at US forces on Monday, while Washington said it struck six Iranian boats it accused of threatening commercial shipping, in the sharpest escalation since a month-long truce.
US Central Command remains “ready to resume major combat operations…if ordered,” General Dan Caine told reporters.
“No adversary should mistake our current restraint with a lack of resolve.”
President Donald Trump urged Iran to “do the smart thing” and make a deal, saying he did not want to kill more Iranians even as the ceasefire teetered.
He earlier dismissed the conflict as “a little skirmish,” adding: “Iran has no chance.”
Pentagon chief Pete Hegseth had said the United States was “not looking for a fight” but warned attacks would face “overwhelming and devastating” force.
‘Malign presence’
Iran’s parliament speaker Mohammad Bagher Ghalibaf said the status quo was “intolerable,” warning the US “malign presence will diminish” as Tehran vowed to retain control of Hormuz.
Monday’s exchange of fire came as the rivals enforced dueling maritime blockades following Trump’s plan to guide ships out of the Gulf.
The war, sparked more than two months ago by US-Israeli strikes, has battered the global economy despite a weeks-long ceasefire.
Israel’s air force chief Omer Tischler said the military was ready to “deploy the entire air force eastward if required.”
Military chief Eyal Zamir added that the army remained on “high alert” and ready to respond to threats in the Gulf.
Iran denied any naval losses but accused Washington of killing five civilians aboard boats.
Despite tensions, Danish freight giant Maersk said one of its ships had transited Hormuz under US escort.
The UAE called the attacks “a dangerous escalation,” while Saudi Arabia urged efforts toward a political solution.
Rubio accused Iran of “holding the world’s economy hostage” through threats to shipping and the laying of sea mines, and said Washington and Gulf allies had drafted a UN Security Council resolution demanding Tehran halt attacks and disclose the location of mines.
The proposed measure would also require Iran to end efforts to charge tolls in the strait and support a humanitarian corridor, with a vote expected in the coming days, Rubio said.
European and US stocks advanced Tuesday while fears that the ceasefire could fall apart weighed on Asian equities.
Talks remain deadlocked, with only one round of direct negotiations so far.
Iran’s President Masoud Pezeshkian said Tehran remained open to dialogue, but rejected US “maximum pressure” demands as “impossible.”
Rising energy costs are adding to economic strain and creating a political headache for Trump ahead of midterm elections.
European allies warned prolonged disruption would hit their economies.
“These attacks are unacceptable,” EU chief Ursula von der Leyen said on X, warning that Gulf security has “direct consequences for Europe.”
German Chancellor Friedrich Merz urged Iran to return to talks, echoing calls from French President Emmanuel Macron and British Prime Minister Keir Starmer.
Politics
Italy’s Meloni warns over AI deepfakes after false photos circulate

Italian Prime Minister Giorgia Meloni said on Tuesday that fake images of her generated by artificial intelligence were circulating online, warning that such false photos could deceive the public and target people unable to defend themselves.
Meloni said in a statement that several fake photos of her had been created with AI and passed off as real by political opponents.
She posted one such image appearing to show her sitting on a bed wearing underwear. The original post included an outraged comment that the photo was shameful and unworthy of an Italian prime minister.
“I must admit that whoever created them, at least in the attached case, has also improved me quite a bit,” Meloni said, adding that the episode showed how “anything at all” was now being used to attack people and spread falsehoods.
“The point, however, goes beyond me,” she said. “Deepfakes are a dangerous tool because they can deceive, manipulate, and strike anyone. I can defend myself. Many others cannot.”
Meloni urged people to check the authenticity of online content before accepting or sharing it.
“One rule should always apply: verify before believing, and think before sharing,” she said.
Meloni launched a libel suit two years ago against a man from Sardinia who is accused of making deepfake pornographic images using her face and posting them online. The case continues.
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