Donald Trump stated that the war with Iran would "be over quickly" as Tehran reviewed a new US peace proposal. The US proposal aims to end the conflict, but significant disagreements persist regarding Iran's nuclear programme and the reopening of the Strait of Hormuz.
Israel Strikes Lebanon
Israel launched air strikes on Beirut for the first time since the 16 April ceasefire, targeting a Hezbollah commander. The strikes also hit southern and eastern Lebanon, resulting in at least 13 fatalities. This escalation marks a significant breach of the ceasefire agreement.
Strait of Hormuz Tensions
Iran denied responsibility for an explosion on a South Korean vessel in the Strait of Hormuz, an incident Trump attributed to Iran. This has led to heightened security in the waterway. However, hopes for a deal to reopen the Strait of Hormuz led to falling oil prices and surging Asian stock markets.
Iranian lawmakers voiced scepticism about the US proposal. Trump claimed that even if oil prices hit $200, the strike "would've been worth it." No final deal has been reached, and the situation remains volatile.
