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The United States and Iran clashed over Tehran's nuclear programme as a review of the treaty meant to prevent the spread of atomic weapons got underway Monday at the United Nations, a confrontation almost certain to be repeated during the month long meeting.
At issue was the election of Iran as one of 34 vice presidents of the conference, where 191 parties to the Nuclear Nonproliferation Treaty are reviewing its implementation as they have done every five years since it took effect in 1970. Iran has enriched uranium to near weapons-grade levels, but Tehran insists its programme is only for civilian purposes.
The meeting began as Iran offered to reopen the Strait if Hormuz if the US lifted its blockade of Iranian shipping and ended the war, while delaying talks about the nuclear programme.
US President Donald Trump met his national security team to discuss Iran's latest proposal to open the Hormuz Strait, the crucial waterway for transporting one-fifth of the global oil supplies.
As tensions betweenm the US and Iran settle into an uneasy pause, global markets are taking cues from one critical variable — oil. Edward Yardeni believes the current geopolitical situation reflects a fragile equilibrium that is keeping investors cautious. "It seems as though both sides are getting comfortable with this stalemate… a continued ceasefire that includes a US blockade of Iranian ports and an Iranian blockade of the Strait of Hormuz," Yardeni said, pointing to the broader implications for global commodity flows.
The first liquefied natural gas shipment since the war in the Middle East began two months ago appears to have traversed the Strait of Hormuz to exit the Persian Gulf.
The Mubaraz - which loaded a cargo from Abu Dhabi National Oil Co.'s Das Island facility in the United Arab Emirates around early March - is now passing the southern tip of India, according to ship-tracking data. The tanker had been idling inside the gulf, but stopped sending a signal around March 31, before re-appearing west of India on April 27, the data show.
(Source: Bloomberg)
Minority Leader Chuck Schumer said Democrats will force a sixth Senate vote this week on a war powers resolution to curb Trump’s “war of choice” in Iran. Posting on X, Schumer asked if Republicans will keep backing Trump as the “reckless and unpopular war” hits 60 days. He noted the Constitution gives Congress, not the president, power to declare war.
THIS WEEK: Senate Democrats will force a SIXTH vote on our War Powers Resolution ending Trump’s war of choice in Iran.
— Chuck Schumer (@SenSchumer) April 27, 2026
As we reach 60 days of a reckless and unpopular war, will Republicans continue to back Trump and dig themselves deeper into this hole?
On the current situation in the US-Iran war, Edward Yardeni, President, Yardeni Research told NDTV Profit:
Iran’s Foreign Ministry Spox Baqaei slammed the US seizure of Iranian oil tankers as “legalised piracy” and “armed robbery on the high seas.” He said pirates have returned, now operating with government-issued warrants under official flags and calling their plunder “law enforcement.”
Iran's Foreign Ministry Spox Baqaei slams US seizure of Iranian oil tankers as 'legalized piracy':
Iran is rapidly running out of places to store crude oil, threatening to accelerate production cuts in what was once OPEC's second-largest source, according to research firm Kpler.
Iranian Foreign Minister Seyed Abbas Araghchi posted on X that he was pleased to engage with Russia at the highest level amid major regional flux.
""Pleased to engage with Russia at the highest level as the region is in major flux. Recent events have evidenced the depth and strength of our strategic partnership. As our relationship continues to grow, we are grateful for solidarity and welcome Russia's support for diplomacy," posted Araghchi on X.
Pleased to engage with Russia at the highest level as the region is in major flux.
— Seyed Abbas Araghchi (@araghchi) April 28, 2026
Recent events have evidenced the depth and strength of our strategic partnership. As our relationship continues to grow, we are grateful for solidarity and welcome Russia's support for diplomacy. pic.twitter.com/I1VyDSfxET
The US Treasury Secretary Scott Bessent warned that doing business with sanctioned Iranian airlines risks US sanctions exposure. "Doing business with sanctioned Iranian airlines risks exposure to U.S. sanctions. Foreign governments should take all actions necessary to ensure that companies in their jurisdictions do not provide services to those aircraft, including the provision of jet fuel, catering, landing fees or maintenance, wrote Bessent on X.
Doing business with sanctioned Iranian airlines risks exposure to U.S. sanctions. Foreign governments should take all actions necessary to ensure that companies in their jurisdictions do not provide services to those aircraft, including the provision of jet fuel, catering,…
— Treasury Secretary Scott Bessent (@SecScottBessent) April 27, 2026
On Iran proposing a mutual reopening of the Strait of Hormuz and that nuclear discussion will occur later in the US-Iran negotiation process, White House Press Secretary Karoline Leavitt says, "... I will confirm the president met with his national security team this morning... The proposal was being discussed... What I will reiterate is that the President's red lines with respect to Iran have been made very clear, not just to the American public, but also to them as well. I wouldn't say they're considering it. I would just say that there was a discussion this morning that I don't want to get ahead of..."
#WATCH | On Iran proposing a mutual reopening of the Strait of Hormuz and that nuclear discussion will occur later in the US-Iran negotiation process, White House Press Secretary Karoline Leavitt says, "... I will confirm the president met with his national security team this… pic.twitter.com/usLq0MrMVn
— ANI (@ANI) April 27, 2026
Ukrainian Foreign Minister Andrii Sybiha says Kyiv has summoned Israel’s ambassador to Ukraine to “request appropriate action” over a vessel carrying grain from Russian-occupied Ukraine seeking to dock at the port of Haifa, in light of reports that similar shipments of grain had already been unloaded in Israel this year.
Israeli FM Sa'ar responded on X to summons, saying diplomatic relations are “not conducted on Twitter or in the media,” adding that “allegations are not evidence” and insisting Israel is a rule-of-law state with independent legal authorities that will examine the matter in accordance with the law.
Oil prices held firm at elevated levels as the US assessed a fresh proposal from Iran, even as the Strait of Hormuz remained effectively shut, keeping global supply concerns intact. Brent crude for June settlement was unchanged at $108.23 a barrel, with the more active July contract at $101.95, while WTI for June delivery rose 0.3% to $96.65. The benchmarks have climbed sharply in recent sessions as traders price in prolonged disruption.
US President Donald Trump met his national security team to discuss Iran's latest proposal to open the Hormuz Strait. White House spokesperson Karoline Leavitt told a press conference here that Trump was discussing Iran’s latest proposal, but did not want to “get ahead” of the President or his security team on the meeting's outcome.
Earlier, Secretary of State Marco Rubio told Fox News that Iranian negotiators were “serious” about reaching a deal with the US, but were looking to buy themselves more time.
At the last treaty review conference in August 2022, which was delayed for a year because of the COVID-19 pandemic, Russia blocked agreement on a final document over its February 2022 invasion of Ukraine and references to Moscow's occupation of the Zaporizhzhia nuclear plant and shelling at Europe's largest nuclear power facility.
At the opening session Monday, UN Secretary-General Antonio Guterres urged the treaty parties “to stand together and safeguard humanity from the grave threat of nuclear annihilation.”
He urged all countries to recommit to disarmament and nonproliferation, and in the new technological era of artificial intelligence and quantum computing to “ensure that, until nuclear weapons are eliminated, humanity never cedes control over their use.”
(Source: AP)
Iran is a party to the Nuclear Nonproliferation Treaty, which requires the country to cooperate with the UN nuclear agency.
But Iran has not given inspectors from the International Atomic Energy Agency access to nuclear sites that were bombed by the US last June.
Christopher Yeaw, US assistant secretary of state for arms control and nonproliferation, said that while there may be differing views about Iran's ultimate intent and how to address its programme, Iran has shown "contempt” for its commitments under the treaty.
Iran's ambassador to the UN in Vienna, Reza Najafi, called the US allegations “baseless and politically motivated,” declaring its opposition to the US as a vice president of the review conference.
(Source: AP)
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