Here's the latest
• Diplomacy push: Iran is expected to respond today to the US proposal to end the war, moving closer to an agreement on a short memorandum, sources told CNN. Yesterday, President Donald Trump said the US had “very good talks” with Iran over the previous 24 hours.
• Naval standoff: Tensions at sea remain high. Yesterday, the US military fired on an Iranian-flagged tanker heading to an Iranian port, enforcing its blockade. The action came hours after Iran launched a website for a body it said will govern traffic through the Strait of Hormuz, its latest effort to formalize control over the trade chokepoint in defiance of US warnings.
• Lebanon truce strained: Israel targeted a top Hezbollah commander in the first strike in Beirut since the ceasefire in Lebanon, Prime Minister Benjamin Netanyahu said, underscoring the fragility of the truce.
Iran lays out new rules for Strait of Hormuz as it seeks to cement control over waterway
Iran has laid out a set of new rules for ships seeking to cross the Strait of Hormuz, according to a document seen by CNN.
Titled “Vessel Information Declaration,” the document is an application form issued by Iran’s Persian Gulf Strait Authority (PGSA) that must be completed by all transiting vessels to ensure their safe passage.
It was shared with CNN by Richard Meade, editor-in-chief of Lloyd’s List Intelligence, a maritime data and analytics service, and by another source who wished to remain anonymous.
The form comprises more than 40 questions, requiring each vessel to declare its name, identification number, its previous name, country of origin, and destination country, among other details. It also asks for the nationalities of the registered owner, manager, and crew members.
Iran has said it is restricting passage through the waterway to vessels linked to the US or Israel. Before February 28, when the US and Israel launched a war on Iran, ships did not have to share any information to transit the strait, Meade said.
Meade told CNN that the list of requirements “looks pretty similar to the questions we knew were already being asked of shipowners,” adding that this, however, “formalizes the structure and appears to be a play by Iran to normalize its authority over transits.”
On Tuesday, Iran launched the Persian Gulf Strait Authority (PGSA) to administer passage. Under the new system, all vessels intending to transit the strait would receive an email from an address linked to PGSA informing them of regulations for passage, according to Iran’s state-owned Press TV.
An email from PGSA shared with CNN by Meade and the second source shows the authority warning that “complete and accurate information is essential” to processing the vessel’s request to transit, and that “further instructions will be communicated via email.”
The move is the latest step in Tehran’s effort to formalize control over the international strait, through which ships sailed freely before the war.
Israeli military says it killed senior Hezbollah commander in Beirut strike
The Israel Defense Forces (IDF) said a senior Hezbollah commander was killed in a strike in Beirut on Wednesday.
The military said it struck and killed Hezbollah’s Redwan Force commander Ahmed Ali Balout “in a precise strike” in the southern suburbs of Beirut.
A residential apartment in the southern suburbs of Beirut was targeted with 3 missiles, Lebanon’s National New Agency (NNA) reported on Wednesday. The strike on Beirut marked the first in the Lebanese capital since a ceasefire in the country took effect.
Hezbollah has yet to confirm the alleged killing.
France prepares financial aid for airlines hit by jet fuel price hike
France is preparing to provide financial aid to airlines hit by rising jet fuel costs sparked by the war, the country’s transport minister said.
“Airlines are facing a major shock. The Government is fully mobilized to support them and help them navigate this challenge,” Transport Minister Philippe Tabarot said in a social media post.
The measures include extended tax payment deadlines and “cash flow support for the most vulnerable players.”
European authorities are looking for ways to avoid widespread aviation disruptions this summer, after some airlines warned there could be jet fuel shortages within weeks. About 75% of Europe’s jet fuel is normally imported from the Middle East.
EU’s Transport Commissioner Apostolos Tzitzikostas said airlines must continue reimbursing passengers for flights canceled because of soaring jet fuel costs. In an interview with the Financial Times he said higher fuel costs do not qualify as “extraordinary pressures” that could allow airlines not to pay passengers compensation.
The European Commission is expected to issue guidance to airlines tomorrow clarifying certain EU rules applying to passenger rights in light of the Middle East conflict.
Iran denies claims of attack on South Korean vessel
Iran’s embassy in South Korea said on Thursday that it “firmly rejects” any claims regarding the involvement of the Iranian armed forces in the damage to a Korean vessel in the Strait of Hormuz.
The embassy however said that since the start of the war with the United States and Israel, Tehran has “repeatedly emphasized” that the strategic waterway “is an inseparable part of its defensive geography in confronting aggressors and their supporters.”
As such, navigation conditions in the strait have been “affected by the evolving security situation.”
Earlier this week, an explosion and fire occurred on a South Korean-linked vessel at the Strait the Hormuz, according to the South Korean Foreign Ministry spokesperson.
The Panama-flagged ship was carrying 24 crew members, including six South Koreans, and docked by the strait near the United Arab Emirates before the explosion occurred. No casualties have been reported, the ministry said at the time.
US President Donald Trump had claimed that Iran had “taken some shots” at the vessel.
South Korea had been evaluating whether to join US efforts to guide merchant ships through the Strait of Hormuz, the country’s foreign ministry previously said, but the short-lived American project has since been paused.
Shell profits up $1.3 billion due to "unprecedented disruption" caused by the war
Shell has reported a $1.3 billion jump in profits, driven in part by wild swings in oil prices triggered by the Iran war and higher prices for gasoline and jet fuel.
The UK energy major said earnings for the first three months of the year rose to $6.9 billion, almost a quarter higher, or $1.3 billion more, than a year ago. Profits from the group’s refineries, which turn crude oil into products such as diesel and gasoline, came in at around $2 billion.
Like BP, which last week reported a doubling of first-quarter profits, Shell’s traders were also able to profit from big changes in oil prices, known as volatility, by accurately predicting the direction of travel.
“Shell delivered strong results… in a quarter marked by unprecedented disruption in global energy markets,” Shell’s CEO Wael Sawan said in an earnings statement.
Shell said its total oil and gas production decreased modestly compared with the fourth quarter of last year, “mainly due to the impact of the Middle East conflict on Qatari volumes.”
Meanwhile, the End Fuel Poverty Coalition, a campaign group, reiterated its call for a windfall tax on oil companies to offset rising household energy bills as a result of the Iran war.
Oil prices continue their slide on growing hopes for US-Iran deal
Oil prices are falling today, advancing yesterday’s slump, on signs that the United States and Iran are moving closer to a deal that may reopen the vital Strait of Hormuz.
Brent crude, the global oil benchmark, was 1.5% lower at $99.8 a barrel, having settled almost 8% lower on Wednesday. WTI, the US benchmark, fell by a similar margin to $93.5 a barrel.
Oil prices have been on a wild ride this week. On Monday, Brent settled at its highest price so far this year, before tumbling yesterday. Crude prices are still more than a third higher than they were before US-Israeli attacks on Iran began on February 28.
“Even if we get a deal over the coming days, we do not see oil prices going back to pre-war levels,” Mohit Kumar, chief European economist at Jefferies, wrote in a morning note. The investment bank sees Brent crude priced at “around $80” in three- to six-months’ time, about 25% above pre-war levels.
Rubio will meet with the Pope today amid Trump's spat with the pontiff over Iran
US Secretary of State Marco Rubio will sit down with Pope Leo XIV today. CNN’s Christopher Lamb explains what’s at stake after the US-born pontiff faced criticism from President Donald Trump for opposing the Iran war:
CNN's Christopher Lamb breaks down Pope Leo's response to President Donald Trump's saying that the US-born pontiff is "endangering a lot of Catholics" with his stance on the Iran War.
Why Iran is using memes and AI-generated content to troll Trump
As Iran continues to release AI-generated Lego videos mocking President Donald Trump, analyst Peter Pomerantsev told CNN’s Jake Tapper the videos serve multiple purposes.
With 1,600 ships stuck near Strait of Hormuz, shipping companies calculate the dangers
About 1,600 ships are still stuck near the Strait of Hormuz, with shipping companies facing an expensive and risky situation, looking for windows of opportunity to leave the waterway for more than two months.
President Donald Trump’s operation to “guide” ships through the strait lasted just 48 hours. Only two ships were guided through.
Now, on their own again, companies are unwilling to bear the risk of transit — letting ships leave would endanger both cargo and personnel.
Any damage to a multimillion-dollar ship would set companies back financially and logistically. Insurers have wartime clauses in their contracts that do not require them to cover vessels stuck in the middle of a war. So, moving ships without that financial backing risks being extraordinarily costly.
Thirty-two ships have been hit with missiles since the beginning of the war, resulting in 10 deaths and at least a dozen injuries, according to the International Maritime Organization, or IMO. The IMO continues to urge ships to “exercise maximum caution” and says that “naval escorts are not a sustainable long-term solution.”
Iran has been carrying out the fastest wave of political executions in recent history
In just seven weeks, at least 28 people have been put to death on political, protest-related, or espionage charges in Iran, according to a US-based human rights group. CNN’s Clarissa Ward reports:
Since the war in Iran began, the country has been carrying out the fastest wave of political executions in its recent history, with at least 28 people who have been put to death on political, protest-related, or espionage charges, according to a US-based human rights group. CNN’s Clarissa Ward reports.
Pro-Iran rally erupts in Tehran, as protesters question whether Trump will strike again
Crowds gathered in Tehran on Wednesday night, waving flags and chanting “down with Israel” during a rally in support of the country’s leadership.
Music and singing filled the streets as Iranian people waved phone lights, pumped their fists in the air and held pictures of Iran’s former Supreme leader Ayatollah Ali Khamenei, who was killed during a joint US-Israeli airstrike in February.
Rahmatpour, and others at the event, questioned whether US President Donald Trump would launch further attacks on Iran, amid ongoing negotiations between the two countries.
“In my opinion, Trump doesn’t have the guts (to attack again), because we are a superpower ourselves and I don’t think they will attack us anymore,” Rahmatpour said, according to Reuters.
“If they attack again, it’s foolishness again, so it depends, he (Trump) is capable of such a thing (to attack again) on whether they can do such a thing, but I hope not.”
We're expecting Iran's response to a US peace proposal today. Here's what to know
The United States and Iran are moving closer to an agreement on a short memorandum that aims to end the war, with Tehran expected to hand over its response to mediators today, according to sources.
US President Donald Trump said yesterday that the US has had “very good talks” with Iran over the previous 24 hours. But he also threatened the resumption of bombing if Iran doesn’t agree to a deal.
If you’re just dropping in, here’s what to know:
- The potential deal: The one-page memo would declare an end to the war and trigger a 30-day period for resolving sticking points including nuclear issues, unfreezing of Iranian assets and security in the Strait of Hormuz, one source told CNN. Trump told PBS News any potential deal would include Tehran shipping its highly enriched uranium to the US and pledging not to operate its underground facilities.
- Israel’s role: Israeli Prime Minister Benjamin Netanyahu held talks with Trump administration officials yesterday to better understand the developments in negotiations between the US and Iran, according to an Israeli source. Israel is concerned about potential last-minute US concessions, the source said. Read more about Israel’s concerns here.
- Beirut strikes: Israel targeted a top Hezbollah commander yesterday in the first strike on the capital since the start of the ceasefire in Lebanon, underscoring the fragility of the truce.
- Hormuz crisis: Yesterday, the US military fired on an Iranian-flagged tanker heading toward an Iranian port, enforcing its blockade. The action came hours after Iran launched a body it said will govern traffic through the Strait of Hormuz, its latest effort to formalize control over the trade chokepoint. French President Emmanuel Macron, meanwhile, encouraged countries to join a multinational mission seeking to secure shipping in the strait after a call with his Iranian counterpart.
CNN’s Joseph Ataman, Mitchell McCluskey, Dana Karni, Thomas Bordeaux, Alejandra Jaramillo, Kit Maher, Max Saltman, Nic Robertson, Alayna Treene, Kevin Liptak and Tal Shalev contributed reporting on this post.
