As US 'no hurry' for talks with Iran, mediators plough ahead to solve Hormuz deadlock

Iran is preparing a list of conditions for reopening the Strait of Hormuz after mediators asked Tehran to set them out, said Mohsen Rezaei, secretary of Iran's Supreme National Security Council, adding that ending the regional war was among them.

Rezaei said Iran had agreed with Oman on a shipping corridor through the strait, with parts of the route in Omani waters and parts in Iranian waters.

Ships would use a designated central channel if the U.S. met Iran's conditions, he said through an interpreter in an Al Manar TV interview.

On Wednesday, a senior source said Iran and Oman were still working on details of an agreement on the waterway after Iran's Revolutionary Guards said the two countries had agreed on how to share control of the strait and its revenues.

A Guards spokesperson said Iran would not allow the strait to reopen unless Washington lifted what Tehran describes as a blockade of Iranian ports while also paying compensation and removing sanctions.

Before the war began in February, the strait carried roughly one-fifth of global oil and liquefied natural gas shipments. Shipping through the waterway has largely stopped since then.

Ceasefire agreements announced by Washington and Tehran in April and June were intended to restore maritime traffic, but did not hold.

US President Donald Trump on Thursday hinted that his administration may be preparing sanctions targeting Chinese banks over their links to Iran, in what would be a major escalation of Washington's attempts to isolate Tehran.

Treasury Secretary Scott Bessent this week announced that the United States was stepping up its campaign to "collapse" the Iranian government through economic sanctions and other measures.

This includes a vastly expanded threat of secondary sanctions on countries that continue to do business with Iran.

China is Tehran's biggest trading partner, particularly when it comes to oil. Chinese banks continue to handle payments related to those and other forms of trade between the countries.

Asked by reporters at an event in the Oval Office whether he would sanction Chinese banks over such transactions, Trump responded with his own question.

"Who said I'm not?" he said, cryptically. "I mean, who said I'm not? You don't know if I'm doing it. Well, I don't have to announce everything, do I?"

The US Treasury has not so far issued any sanctions against major Chinese banks, although it has sanctioned several companies in mainland China and Hong Kong it accuses of aiding the Iranian government and armed forces.

China has opposed US secondary sanctions related to Iran as "illegal."

Tunisian authorities said on Thursday they had recovered the remains of the last migrants missing from a boat that sank off the coast last week, bringing the death toll to 14.

The boat was carrying mostly young people, including seven members of the same family, as well as a man and his pregnant wife, the Tunisian Observatory for Human Rights said over the weekend.

The central Mediterranean route from the North African coast is one of the world's deadliest migration routes, used by migrants from Africa and the Middle East seeking to reach Europe, often in overcrowded or unseaworthy boats.

Earlier this week, the Coast Guard said it had found the bodies of 11 Tunisian migrants. One person was rescued alive.

The National Guard said on Thursday it had now ended search and rescue operations and handed the bodies over to their families.

Migrant departures from Tunisia have declined over the past two years amid a crackdown on migrants, backed by European support that has included funding and modern surveillance equipment. 

An Israeli airstrike killed one person near Qarara town in the southern Gaza Strip, and another killed a man at a house in the Beach refugee camp in Gaza City.

Another airstrike on Gaza City later on Thursday hit a motorist, killing one person.

The strikes come despite a ceasefire agreed in October, with growing criticism of Israel's violations and continued demolition of buildings in the enclave. 

Hamas accuses Israel of violating the truce and undermining efforts to implement a broader plan by U.S. President Donald Trump to end the war, which also includes Israeli withdrawals and Hamas disarmament.

Over 1,300 Palestinians have been killed by Israel since the ceasefire took effect last October, according to health officials.

Iran has executed over 500 people so far this year after a new surge in hangings in recent days, despite President Donald Trump urging the Islamic republic to halt executions, a rights group said on Thursday.

At least 511 people have been executed so far in 2026, according to Norway-based NGO Iran Human Rights, including at least 29 people in connection with anti-government protests in January.

At least 16 women are among those executed and at least 13 "political prisoners" affiliated with banned opposition groups, it said.

Activists accuse Iran of using capital punishment as a means to intimidate the population in the wake of the protests and the war against the United States and Israel that erupted on 28 February.

"All executions, regardless of the charges, have a clear domestic purpose; to create fear and prevent new protests," IHR director Mahmood Amiry-Moghaddam told AFP.

"We are very concerned that this trend could worsen in the coming months," he added.

Lebanese's National News Agency reports that the Israeli airstrikes on the country’s south killed a woman.

NNA added that a series of Israeli airstrikes including on the town of Arab Salim, which killed a woman who "had been married for 48 hours", with other people wounded.

Iran's oil sales and deliveries in "distant waters" continue despite reduction, Iran's Oil Minister Mohsen Paknejad said on Thursday according to state media.

There are currently no negotiations happening between the United States and Iran, but all options remain on the table, White House press secretary Karoline Leavitt said in a Fox News interview.

The Israeli army claims it has intercepted a drone in southern Lebanon launched by Hezbollah in a so-called "security zone" in the Ali al-Taher area.

One drone was intercepted, the whereabouts of the other is not known, an army spokesperson posted on X.

Israel then struck the area with airstrikes.

Egypt's Foreign Minister Badr Abdelatty and his Russian counterpart Sergey Lavrov have discussed recent developments in the region, including the joint Iran-Oman proposal to establish a temporary maritime corridor in the Strait of Hormuz, according to a statement from Egypt's Foreign Ministry.

Iran's Foreign Minister Abbas Araghchi held talks with his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani on Thursday, Iranian state television said, with the strategic Strait of Hormuz on the agenda.

Iranian state television reported that Araghchi's meeting with Al Thani, who is also prime minister, took place in Tehran. Qatar's foreign ministry had earlier said the visit would address "ways to de-escalate tensions" in the region and "freedom of navigation in the Strait of Hormuz".

Palestinian women in Gaza are now buying gold for different reasons, with some turning to it not solely for adornment or celebrations, but as a form of portable savings that can be easily concealed, carried and sold for cash when needed.

For Rahaf Abu Shaaban, 34, the change is personal. "Now I look for lightweight rings and necklaces, comparing their prices with her limited savings and choosing pieces she can afford rather than elaborate designs," she told The New Arab.

"I no longer buy gold for adornment […] When I have a small amount of money, I prefer to buy a piece of gold, even if it is simple. I feel like I am holding on to something of value that I can sell if I need money," she said.

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Pakistan says it does not consider itself bound by the recent US sanctions on Iran.

Addressing reporters in Islamabad on Thursday, Foreign Ministry spokesperson Taher Andarab said Pakistan does not believe Washington's "unilateral sanctions" on Tehran adhere to international law and stressed that issues should be resolved through dialogue.

UN nuclear watchdog chief Rafael Grossi says there is no "solid evidence" to suggest that Iran is rebuilding its nuclear facilities following US and Israeli attacks.

In an interview published by Argentinian newspaper Clarin, Grossi said talks on Tehran’s nuclear programme remain stalled because of the war. He added that Iran’s roughly 440kg (972 pounds) of highly enriched uranium is still located where it was at the time of Israel's attack last year.

"The facilities have suffered significant damage. Perhaps they are beginning to rebuild some of their infrastructure, that can't be denied, but there’s no solid evidence to suggest that's the case. So, the issue remains a major unresolved matter," Grossi said. "We are ready, and I hope we can resume work there as soon as possible."

Pakistan said it was continuing diplomatic efforts to help resolve the crisis between the United States and Iran and reopen the Strait of Hormuz.

Foreign Ministry spokesperson Tahir Andrabi said at a news briefing that Field Marshal Asim Munir's recent visit to Tehran was aimed at reviving the June memorandum of understanding to reopen the strait.

Pakistan's Foreign Minister Ishaq Dar has also continued diplomatic outreach during Munir’s visit, speaking with his Turkish, Egyptian, and other regional counterparts, Andrabi said.

Sheikh Mohammed bin Abdulrahman Al Thani is expected in Tehran on Thursday for talks with Iranian officials on "ways to de-escalate tensions & create the conditions conducive to dialogue," Qatar’s Foreign Ministry said on X.

The discussions, confirmed by Tehran, will also address "freedom of navigation" in the Strait of Hormuz and the need to return to the prewar status quo, according to Majed Al Ansari, an agency spokesperson.

But US President Donald Trump told Al Jazeera by phone Wednesday that he has "no time schedule" to wrap up the conflict that will reach the six-month mark on Friday. Trump told the Qatar-based broadcaster that he believes the United States is "winning very big."

Israeli army chief of staff Lt. Eyal Zamir says he has ordered a major bolstering of troops in the occupied West Bank in light of recent tensions, according to Israeli media.

“We are advancing battle procedures on all fronts, from Iran and Lebanon to Gaza, and are on high alert in the face of multi-front volatility,” he said during a morning assessment.

Zamir said that because of the tensions in the occupied West Bank and the upcoming Jewish holiday period, he is ordering a standing army division headquarters to be put on standby to reinforce troops if required.

Iran's President Masoud Pezeshkian is scheduled to meet with his Russian counterpart Vladimir Putin while attending the Shanghai Cooperation Organisation summit next week in Kyrgyzstan, Iranian state media reported.

Iran's ambassador to Russia Kazem Jalali said Pezeshkian "will attend the Shanghai Cooperation Organization (SCO) summit in Kyrgyzstan, where he will have his sixth meeting" with Putin, the official IRNA news agency reported on Wednesday.

The summit will take place next Tuesday in Bishkek, with the two leaders' scheduled meeting coming as Iran remains at Iran war the United States since 28 February.

An air defence system operated by Greek military personnel in Saudi Arabia intercepted a swarm of drones on Thursday in the wider Yanbu region, home to major oil refining facilities, Greek security sources told Reuters.

It was the third time the Greek-operated system has been used in combat since the US-Israeli war on Iran began, underscoring the widening military role of European allies in defending Gulf energy infrastructure.

"The battery engaged the drones in coordination with Saudi air defence systems," one of the sources said, adding that the Greek Patriot system launched three missiles, without detailing the number of drones downed or their origin.

A second source confirmed the information.

Greece has deployed a US-made Patriot air defence battery, operated by Greek personnel, in Saudi Arabia since 2021 under an agreement to help protect the kingdom's energy facilities.

Israel is considering expelling British, and possibly other European officials, from the US-led coordination centre for post-war Gaza, the Financial Times reported on Thursday.

The Israeli government in recent weeks has discussed removing the UK from the International Gaza Support Center, the multinational headquarters established to monitor the US-brokered ceasefire between Israel and Hamas, the newspaper said, citing people familiar with the matter.

Reuters could not immediately verify the FT report.

Navigational data showed slight improvement in ship transit through the Strait of Hormuz, amid anticipation over the Iranian-Omani talks regarding regulating the waterway and continuing tension between Washington and Tehran.

According to Kpler data, ten cargo ships for primary goods crossed the strait on Wednesday, compared to eight ships the previous day, while this rate remains below the ten-day average of about 15 ships.

This coincided with Tehran and Muscat continuing to discuss the details of an agreement to share the waterway and its revenues, while the Bab al-Mandab Strait witnessed a decline in navigation traffic for the second day in a row, recording only 19 ships crossing, compared to 24 ships on Tuesday, amid estimates of the presence of other ships crossing without activating tracking devices.

Iran has been unable to import enough petrol to make up for insufficient domestic production because of a US naval blockade, a senior Iranian official said.

"Petrol production is insufficient, and because of the US naval blockade, we cannot import it," the official IRNA news agency quoted Vice President Mohammad Jafar Ghaempanah as saying on Wednesday.

The remarks came as Iranians have in recent days queued outside petrol stations, with the war with the United States increasingly shifting towards economic pressure on Tehran.

Ghaempanah criticised the distribution of highly subsidised fuel in Iran, saying the current system disproportionately benefits people who own multiple vehicles.

"The distribution of petrol in the country is inequitable. Owners of several vehicles benefit from subsidies, unlike those who do not own one," he said.

Iran, a major oil producer with some of the world's cheapest fuel, has for years heavily subsidised petrol, making any changes to pricing politically sensitive.

Euro zone bond yields rose very slightly on Thursday after oil prices ticked up from the previous day's lows, as an agreement to reopen the Strait of Hormuz appeared a way off despite conflicting messages from Iran.

Germany's 10-year bond yield, the benchmark for the bloc, rose just under 1 basis point (bp) to 3.234%.

The 2- and 30-year yields rose a similar amount to 2.829% and 3.741% respectively. Qatar's prime minister will visit Tehran on Thursday in an effort to relaunch diplomacy between the U.S. and Iran, with both sides at odds over control of the Strait of Hormuz, through which 20% of the world's energy typically flows. Iran's Revolutionary Guards said on Wednesday that Iran and Oman had agreed how to share the waterway and its revenues, but a senior Iranian source later said the two countries were still working on the details of an agreement.

Oil prices rose slightly overnight but gave up some of their gains on Thursday morning. Brent crude traded at $87 a barrel, up from Wednesday's low of $85.40 although down 0.9% on the day.

"Bunds are unable to hold their gains from previous sessions in the face of higher oil prices," said Erik Liem, rates strategist at Commerzbank.

For 40 years, US bases in the Gulf have underpinned the US's regional power and security guarantees, but the Iran war has cast doubt on their future, writes Dario Sabaghi.

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Israel launched two waves of air attacks this morning on the Ali al-Taher Hill at the eastern outskirts of Upper Nabatieh in southern Lebanon, according to the National News Agency (NNA).

NNA added that Israeli warplanes carried out overnight air strikes on the area located between the towns of Eastern Zawtar and Mayfadoun in south Lebanon.

The US Naval Institute announced that the aircraft carrier USS Theodore Roosevelt is preparing for a deployment operation in the Middle East that will last more than seven months, amid the US-Israeli war on Iran.

Chief of Naval Operations Admiral Daryl Caudle and Master Chief Petty Officer of the Navy John Perryman told media on Wednesday that the Roosevelt will relieve the USS George Washington, which entered the Navy’s 5th Fleet area in the region last week.