US-Iran War News Live Updates: Trump Says Ceasefire On Life Support; Iran FM To Visit Delhi On May 13

Beijing publicly insists that it wants to see the war end, and has been working diplomatically behind the scenes to help its ally Pakistan push to broker a peace agreement.

It has also sent a “subtle message of discontent to Iran” for closing the Strait of Hormuz, and to the US for its blockade of Iranian shipping, said Ahmed Aboudouh, a specialist on China's influence in the Middle East with the London-based Chatham House think tank.

(Source: AP)

Asian shares traded mixed early as optimism encouraged by a record rally on Wall Street clashed with anxiety about surging oil prices and a possible AI bubble.

Japan's benchmark Nikkei 225 added 0.7% to 62,881.03. South Korea's Kospi dropped 1.2% to 7,726.30, in what analysts are categorising as fallout from overreliance on fraying AI hopes.

Pakistan's Prime Minister Shehbaz Sharif has extended the countrywide austerity drive till June 13 in the wake of uncertainty caused by the US and Iran’s failure to strike a deal to end the conflict in Middle East amid a fragile ceasefire. The austerity measures were initially announced for two months.

"The prime minister, on consideration of the recommendations of the committee for monitoring and implementation of fuel conservation and additional austerity measures, has been pleased to extend the applicability of the following additional austerity measures up till June 13, 2026, with immediate effect," it read.

(Source: AP)

The Trump administration is calling on banks to flag certain customers who may launder funds for Iran's Revolutionary Guard — including newly formed companies moving unusually large amounts of money, firms that route payments through multiple intermediaries or transactions connected to Iranian crypto firms, among other indicators.

As part of the US initiative to monitor Iranian oil sales, banks are being asked to watch out for oil labelled as “Malaysian blend” to disguise its Iranian origin, missing or falsified shipping documents or ship-to-ship oil transfers that obscure where cargo came from.

(Source: AP)

Iranian Foreign Minister Abbas Araghchi will travel to New Delhi this week to attend the BRICS Foreign Ministers meeting on May 14 to 15 and is expected to call on Prime Minister Narendra Modi before the latter’s visit to the UAE, diplomatic sources confirmed to The Hindu.
 

Two regional diplomats say one issue frustrating Trump is Iran's demand for war damages. They noted that, traditionally, reparations are paid by the defeated side and Trump is wary of the term “reparations” appearing in Iranian proposals, as agreeing to it could be seen as acknowledging defeat.

Both diplomats spoke on condition of anonymity because they weren't authorised to discuss the ongoing negotiations.

One diplomat added that Pakistan is working to broker a memorandum of understanding between the United States and Iran aimed at ending the war and maintaining broader dialogue on unresolved issues.
 

(Source: AP)

US President Donald Trump said he plans to suspend a federal gasoline tax as consumers cope with surging energy prices in the wake of the Iran war.

US federal taxes on gasoline amount to 18.4 cents per gallon on gasoline and 24.4 cents per gallon for diesel. 

Suspending the tax would require an act of Congress, where Trump's Republican party holds a razor-thin majority in both houses. 

(Source: AFP)

US President Donald Trump on Truth Social said, "I am very much looking forward to my trip to China, an amazing Country, with a Leader, President Xi, respected by all. Great things will happen for both Countries! President DONALD J. TRUMP."

Reacting to the report of Pakistan allowing Iranian military aircraft to park on its airfields to shield them from American airstrikes, Republican Senator Lindsey Graham called for a complete re-evaluation of Pakistan’s role as a mediator. "If this reporting is accurate, it would require a complete reevaluation of the role Pakistan is playing as mediator between Iran, the United States and other parties," Graham, the Senator from South Carolina, said in a post on X.

If this reporting is accurate, it would require a complete reevaluation of the role Pakistan is playing as mediator between Iran, the United States and other parties.

Given some of the prior statements by Pakistani defense officials towards Israel, I would not be shocked if… https://t.co/OqJ1cdVLFX

— Lindsey Graham (@LindseyGrahamSC) May 11, 2026

Pakistan, which is playing mediator to end the US-Iran war, allowed Iranian military aircraft to park on its airfields to shield them from American airstrikes, CBS News reported in Washington quoting US officials. The report also claimed that Iran had also parked its civilian aircraft in neighbouring Afghanistan to protect it from US airstrikes.

 

US President Donald Trump said the Iran ceasefire is on "life support" after he rejected Tehran's latest proposal to end the war. The Trump administration is calling on banks to flag certain customers who may launder funds for Iran's Revolutionary Guard — including newly formed companies moving unusually large amounts of money, firms that route payments through multiple intermediaries or transactions connected to Iranian crypto firms, among other indicators.

Iran's Parliament Speaker MB Ghalibaf posted on X, "There is no alternative but to accept the rights of the Iranian people as laid out in the 14-point proposal. Any other approach will be completely inconclusive; nothing but one failure after another. The longer they drag their feet, the more American taxpayers will pay for it." [sic]

Iran's parliament speaker MB Ghalibaf on X said, "Our armed forces are ready to deliver a well-deserved response to any aggression; mistaken strategy and mistaken decisions will always lead to mistaken results— the whole world has already figured this out.  
We are prepared for all options; they will be surprised." [sic]