Pakistan hosts the first round of face-to-face talks between the US and Iran in 47 years in April; the talks end without a breakthrough, but also without a breakdown
US, Iran hold high-level talks in Switzerland on June 20 after signingpreliminary agreement to end the war; hold talks in Doha on July 1, with mediators citing “positive progress”
US launches strikes on Iran on July 8 in response to attacks on ships in Hormuz, Tehran retaliates as strait heats up again
The Jordanian and Kuwaiti militaries have reported intercepting salvos of Iranian missiles and drones, with Iran’s army and Revolutionary Guards saying they had targeted US assets in the countries, AFP reports.
Jordan’s army said it had shot down three Iranian missiles this morning, while a fourth fell in an uninhabited area. It also shot down six drones the night before.
The army said the “operations resulted in no human casualties or material damage”.
Kuwait’s military said overnight that it was also intercepting “hostile drone threats”, without specifying their target.
Bahrain’s interior ministry says that air raid sirens in the kingdom have been activated and citizens have been urged to remain calm and head to the nearest safe place.
The Iranian army said that it would continue its strikes around the region until the attacks on Iran stopped, AFP reports.
“The armed forces’ retaliatory attacks will continue as long as the US attacks on the country’s infrastructure and coastal areas continue,” said army spokesperson Mohammad Akraminia according to state TV, adding that the country was ready for “every enemy scenario”.
US Secretary of State Marco Rubio said Iran would continue to “pay a very heavy price” unless it agreed to a deal, saying the country was already suffering severe military and economic losses.
Speaking on the sidelines of the ASEAN conference in Manila, Rubio said, “They are going to continue to pay a very heavy price.”
He said Iran’s “defence industrial base has been decimated” and claimed the country was “losing radar systems and losing launchers every single night.”
Rubio added that Iran was “suffering billions of dollars in damage” and that “their economy is suffering.”
“Every time they make a deal, they either break it or they want to change the deal,” Rubio said.
“So.. they are probably not ready to make a deal because the price they are paying is very high,” he added. “They are suffering tremendously, and they are going to suffer even more.”
Iraqi Prime Minister Ali Faleh al-Zaidi has departed for Tehran, AlJazeera reports.
Iraqi government spokesman Haider al-Aboudi has said that natural gas cooperation and regional developments will be on the agenda of the talks in Tehran.
US Secretary of State Marco Rubio said that Iran was “begging for a deal” but warned that Tehran would “pay the price” if it failed to reach an agreement, Al Jazeera reports.
Speaking on the sidelines of the ASEAN conference in Manila, Rubio said, “It looks like Iran is not ready to make a deal. They will pay the price.”
He also accused Tehran of failing to honour previous agreements, saying, “Every time they make a deal, they either break it or change it.”
Deputy Prime Minister and Foreign Minister Ishaq Dar and United Kingdom’s Secretary of State for Foreign, Commonwealth and Development Affairs Ed Miliband emphasise the importance of dialogue and diplomacy during the recent escalation between the US and Iran.
According to a statement by the Foreign Office, the two leaders met on the sidelines of Asean Regional Forum (ARM) in Manila.
They “discussed regional and international developments, including the security situation in the region”, the FO said.
It added that Miliband appreciated Pakistan’s “continued efforts to promote dialogue and de-escalation during the recent US-Iran tensions”.
“Both sides noted with concern the recent escalations in the region and underscored the importance of continued dialogue, diplomacy, and sustained efforts towards lasting peace and stability,” the FO adds.
Three sailors who survived an attack on the Thai cargo ship Mayuree Naree in Strait of Hormuz are suing the vessel’s owners, alleging that Iranian warnings were ignored ahead of the strike, AlJazeera reports.
“The moment I heard the explosion, I thought that was it. I knew something serious had happened. No ordinary explosion would have been that loud – so loud that it completely shocked me,” the report quotes one of the three sailors, Panithi Tumkaew, as saying.
He said he can no longer face returning to sea and has been forced to leave his job, receiving just $5,000 in back pay, the report adds.
Jordan Foreign Minister Ayman Safadi has held a phone call with his Saudi counterpart Faisal bin Farhan Al Saud and exchanged views on regional developments, AlJazeera reports, citing a statement by the Jordanian foreign ministry.
“The two ministers discussed regional developments, the efforts being made to de-escalate tensions and ensure freedom of maritime navigation in the Arabian Gulf and the Red Sea,” the statement says.
They also discussed “coordination and consultation regarding diplomatic efforts aimed at enhancing security and stability in the region”.
Prime Minister Shehbaz Sharif said that he had spoken on the phone with Saudi Crown Prince Mohammad bin Salman and “condemned, in the strongest possible terms, the Houthi militia’s attacks against Saudi oil tankers in the Red Sea”.
“Such actions are unacceptable, violate international law, threaten freedom of navigation and undermine regional peace and security,” he said.
“I reaffirmed Pakistan’s complete solidarity with the brotherly Kingdom of Saudi Arabia and conveyed that I, together with Field Marshal Syed Asim Munir and the entire Pakistani nation, stand firmly and resolutely with the Saudi leadership and the brotherly people of the Kingdom at this critical time,” he said.
He added that the two agreed to continue working “very closely to maintain regional peace, security, stability, and the uninterrupted flow of lawful maritime commerce through the Red Sea as well as the Strait of Hormuz and the wider region”.
French oil and gas giant TotalEnergies says net profit doubled in the second quarter, on the back of high hydrocarbon prices resulting from the conflict in the Middle East, AFP reports.
TotalEnergies says in a statement that net profit amounted to $5.4 billion in the period from April to June, up from $2.7bn in the same period a year earlier.
Deputy PM and FM Ishaq Dar has discussed the latest regional and international developments with Oman’s FM Badr Al Busaidi during their meeting in Manila on the sidelines of the Asean ministerial meeting.
According to the Foreign Office, FM Al Busaidi “appreciated Pakistan’s constructive role in promoting dialogue, de-escalation, and regional peace and security”.
“Both sides expressed concern over the recent developments in the region, stressed the importance of upholding the ceasefire, respecting international law, and working towards lasting peace and stability in the region,” FO said.
Indian government bonds have fallen as escalating tensions in the Middle East pushed crude oil prices closer to $100 a barrel, while rising US Treasury yields also weighed on investor sentiment, Reuters reports.
The benchmark 6.94pc 2036 bond yield was at 6.8180pc as of 10:05am IST, after closing at 6.8012pc yesterday.
“Indian bonds are starting to look vulnerable as higher oil prices threaten to revive inflation pressures and weaken the rupee. Unless crude cools meaningfully, yields may have more upside,” a trader with a state-run bank said.
India imports almost 90pc of its crude oil requirement and is vulnerable to any supply shock as higher crude prices can swell its import bill, push up inflation and pressure the rupee.
Egypt’s FM Dr Badr Abdelatty has met with his Omani counterpart Badr Al Busaidi on the sidelines of the Asean Ministerial Meeting in Manila.
Besides discussing bilateral relations, they “renewed their condemnation of the repeated Iranian attacks targeting the brotherly Gulf Cooperation Council countries”, Egypt’s foreign ministry said.
Abdelatty stressed that the repeated attacks represented a “flagrant violation of the sovereignty of countries and a serious threat to the security and stability of the region”.
He stressed the importance of an immediate halt to all escalatory actions and an immediate cessation of any practices that would fuel tension and expand the circle of escalation in the region.
The two ministers also agreed on the importance of preserving freedom of navigation in the Strait of Hormuz and the need to ensure the security and safety of international navigation.
Iran’s Revolutionary Guards, the ideological arm of the country’s military, said on Thursday that they had attacked and destroyed several American military assets in Jordan, AFP reports.
The targets included a radar for the US THAAD missile defence system, a Patriot system, a C-RAM radar and a helicopter hangar, according to a statement from the Guards aired by state TV.
Emirates NBD has posted second-quarter profit that was little changed sequentially, as asset growth and margins stayed resilient, in the lender’s first set of results reflecting the Iran war’s impact across the full three months, Reuters reports.
Quarterly profit at Dubai’s largest bank by assets came in at 6.4 billion dirhams ($1.74 billion), ENBD said in a statement, unchanged from the first quarter.
The first quarter was only partly affected by the conflict, which began at the end of February, bringing turmoil to the region, including the Gulf’s business and tourism hub Dubai, which has witnessed strong growth in recent years.
The crisis has led to heavy disruption to travel and supply chains, prompting economic measures by the UAE authorities, including steps by the central bank to support banks’ liquidity. While flights and business have largely resumed, recovery in sectors such as hospitality could take longer.
A man rides a bicycle past Emirates NBD head office in Dubai, UAE on January 30, 2018. — Reuters/File
Foreign ministers from fuel-stressed Southeast Asia will call for freedom of navigation in international straits when they wrap a week of meetings largely overshadowed by the US-Iran war, according to a draft communique seen by AFP.
The draft statement expected to emerge from the Association of Southeast Asian Nations (Asean) gathering in Manila will also repeat calls for self-restraint in a Middle East conflict that has carried economic ripple effects throughout the region.
Visiting US Secretary of State Marco Rubio this week warned Asean envoys that Iranian control of the Strait of Hormuz would set a “dangerous precedent”.
Iran’s Islamic Revolutionary Guard Corps (IRGC) has claimed more attacks on US military assets in Kuwait, insisting the strikes were retaliation against Washington and not the Kuwaiti people, Al Jazeera reports.
The IRGC said it had “attacked and destroyed a large warehouse of military equipment, a Patriot missile defence system, and a hangar of American MQ9 drones” at Ali al-Salem Air Base.
It also claimed attacks on US forces’s accommodation and two helicopter hangars at the Al-Adiri barracks, saying the attacks caused casualties and inflicted heavy damage on helicopters and drones.
The IRGC added that its fighters “targeted a telecommunications tower in response to US attacks on telecommunications towers in Iran”.
Two naval search and rescue vessels have been hit and seriously damaged in a US attack on Iran’s Hormozgan, the ISNA news agency has reported, citing the province’s Ports and Maritime Administration, according to Al Jazeera.
Two Chinese very large crude carriers carrying a combined 4 million barrels of Saudi Arabian oil are heading toward the Bab el-Mandeb strait to exit the Red Sea, shipping data showed, even as a Saudi vessel came under attack in the region, Reuters reports.
The US military said that it had completed “another round of strikes against Iran for the 12th consecutive night”.
“US forces struck Iranian military targets including maritime capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets. The strikes further degrade Iran’s ability to attack civilian mariners and commercial vessels,” the US Central Command (Centcom) said.
“This month, American forces have targeted dozens of Iranian military sites on land while resuming a blockade against Iran at sea. As of today, Centcom has redirected nine commercial vessels and disabled one to prevent ships from entering or departing Iranian ports,” it said.
A vessel belonging to a Saudi company was hit while transiting the Red Sea, Saudi state media reported citing an official source, after Yemen’s Houthi rebels claimed it struck tankers in the waterway, AFP reports.
The source, quoted by state-run Saudi Press Agency, said “the vessel ENCELIA, belonging to a Saudi company, was targeted while sailing in the Red Sea, resulting in a fire at the bow of the ship” but that all crew members were safe.
The US Department of State has issued a worldwide caution, urging Americans to avoid travel to the Middle East due to “the potential for unforeseen escalation”.
“Due to heightened tensions in the Middle East, the security environment remains complex, with the potential for unforeseen escalation,” the official announcement warned.
It also urged Americans currently in the Middle East to exercise caution, remain highly vigilant, and be prepared for flight cancellations, periodic airspace closures, and potential travel disruptions.
The alert noted that some airlines in the region had already postponed the resumption of previously suspended flight schedules, while others had cancelled certain routes.
Yemen’s Houthis said they had carried out a military operation targeting two Saudi oil tankers, and maritime security reports said one of the vessels named by the group, the Saudi-flagged tanker Encelia, had been hit in the Red Sea, Reuters reports.
The Houthis identified the two tankers as “ENCELIA” and “LAYLA”, saying the vessels had violated a naval blockade imposed by the Iran-aligned group on Saudi Arabia. The Houthis said they targeted the tankers with a number of ballistic and cruise missiles.
A maritime security source said Encelia had transmitted a distress call via VHF, reporting it had been struck by a missile while operating at the outer port limits of Saudi Arabia’s Jizan, in the Red Sea, and was on fire.
