US-Iran War News Live Updates: Trump Says Naval Blockade To Be Lifted Soon, Calls For Reopening Hormuz Immediately

Iran's semi-official Tasnim News Agency, citing a source close to the country's negotiating team, reported that the text of a potential memorandum of understanding (MOU) between Iran and the United States has changed in recent days and has not yet been finalised or confirmed.

The source emphasised that Western media reports claiming the agreement is complete are inaccurate, noting that Tehran has not yet notified the Pakistani mediator of a finalized text. Tehran intends to formally inform both the mediator and the public once a definitive agreement is reached.

Palestinian officials condemned Israel’s ongoing actions in Gaza as a “war of extermination, killing, and destruction,” saying the attacks violate international law and all ceasefire agreements. The Foreign Ministry urged mediating and guarantor states, led by the United States, to immediately pressure Israel to halt its crimes against Palestinian civilians.

(Source: Al Jazeera)

Geneva – The International Air Transport Association (IATA) released data for April 2026 global passenger demand:

• Total demand, measured in revenue passenger kilometers (RPK), was down -3.4% compared to April 2025. Excluding the Middle East, demand increased by 1.2%.
• Total capacity, measured in available seat kilometers (ASK), decreased -2.9% year-on-year. The load factor was 83.1% (-0.4 ppt compared to April 2025).
• International demand fell -5.3% compared to April 2025. Excluding Middle East, demand grew by 1.9%. Capacity was down -5.1% year-on-year, and the load factor was 83.9% (-0.2 ppt compared to April 2025).
• Domestic demand was flat compared to April 2025. Capacity increased 0.8% year-on-year. The load factor was 81.9% (-0.7 ppt compared to April 2025).

Iranian authorities are accelerating efforts to build alternative trade corridors amid regional tensions and shipping disruptions affecting the Strait of Hormuz. The Iranian president ordered the expansion of commercial and transit routes to reduce reliance on vulnerable maritime chokepoints and improve regional connectivity. The push follows military escalation involving Iran, the US, and regional allies, with the Strait of Hormuz — handling nearly one-fifth of global oil trade — under intense geopolitical scrutiny.

IRAN PRESIDENT ORDERS CREATION OF ALTERNATIVE TRADE CORRIDORS

— First Squawk (@FirstSquawk) May 29, 2026

David Roche delivers a stark warning on the global economy, oil markets, and the growing disconnect between financial markets and economic reality.

An annual United Nations report documenting sexual violence in conflicts worldwide has included Israeli forces for the first time since the review began more than 15 years ago for their treatment of Palestinian detainees. Israel denies the accusations.

The 35-page report -- shared by the Israeli mission to the UN late on Thursday ahead of its expected release on Friday -- blacklists 77 government and non-government parties in a dozen countries suspected of committing or being responsible for sexual violence in conflicts around the world. It says the number of cases rose sharply in 2025 from 2024.

(Source: AP)

A man checks a house that was destroyed in an Israeli airstrike in Burj al-Shemali village near the southern port city of Tyre, Lebanon. 

Israel's air force carried out an airstrike on a southern suburb of the capital, Beirut, Thursday afternoon, the Israeli military said, further straining a fragile ceasefire a day ahead of crucial negotiations in Washington.

The strike hit an apartment building but it was not immediately clear who might have been targeted. Videos from the suburb of Choueifat, close to Beirut's international airport, showed white smoke billowing from a residential neighbourhood.

Gold held a gain after reports that the US and Iran had reached a tentative deal to extend a ceasefire and work toward an agreement to end the Middle East war eased inflation concerns. 

Bullion traded near $4,500 an ounce, after closing up 1% on Thursday despite touching a two-month low earlier in the session when airstrikes risked derailing the peace talks. The US and Iran have now reached a tentative agreement to extend a ceasefire by 60 days and launch further talks on Tehran’s nuclear program, a person with knowledge of the matter said. 
 

David Roche, Strategist at Quantum Strategy To NDTV Profit

• Expect a serious economic problem if war does not stop. 
• Might run out of oil; in most nations by summer end. 
• Oil prices are at nearly $107/Bbl in physical market.
• Iranians have to reduce control of the Gulf
   

REPORTER: Is there a tentative 60-day ceasefire extension and a continuation of nuclear talks?

BESSENT: The president very clearly stated — open the Strait, highly enriched uranium, no nuclear program.

REPORTER: Are those 3 things in the deal?

BESSENT: If there can be NO DEAL without those, WHY would there be a deal without those?

Scott Bessent, United States Secretary of the Treasury said, "Donald Trump has made it very clear. Iran has to turn over their highly enriched uranium. They can not pursue a nuclear weapon, and the Strait of Hormuz has to have free transit. He’s not going to take a bad deal. He's going to make a great deal for the American people."

Kuwait announced that its air-defence systems intercepted incoming missiles and drones on Thursday, without detailing what had been targeted. Iran said it had retaliated for strikes earlier in the week by firing on a US base in a Gulf state it did not name.

The Kuwaiti Foreign Ministry condemned Iran for what it called "blatant aggression", and US Central Command called the attack on one of America's top allies in the Persian Gulf an "egregious ceasefire violation". Kuwait repeatedly came under fire from Iran and Iranian-backed Shiite militias in Iraq before the April ceasefire began.
 

A memorandum states Iran must not impose tolls on the Strait of Hormuz and must remove all mines from the waterway within 30 days, per an official speaking anonymously. During the war, Iran effectively closed the strait, which handles about a fifth of global traded oil and gas, driving oil prices up. US Treasury Secretary Scott Bessent said oil costs could drop quickly once a deal is finalized. Iran now allows roughly two dozen commercial vessels daily, down from 100 pre-war, and has charged tolls on some ships after setting up a gatekeeper agency this month, prompting new US sanctions.

Under the tentative deal, the US would gradually lift its naval blockade on Iranian ports and ease sanctions to let Iran sell more oil. Despite the potential deal, the US Treasury just imposed more sanctions on the Iranian military's oil sales arm.

(Source: AP)

Not just US President Donald Trump, even Iran did not immediately confirm any deal. US and Iranian negotiators reached a tentative agreement to extend the ceasefire in the three-month-old war by 60 days and start a new round of talks on Iran's nuclear programme.