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• Deal prospects: The Trump administration feels “good about prospects of a deal” with Iran, the White House said, noting that a potential second round of talks would likely be held in Pakistan. Iran’s foreign minister said Tehran remains committed to promoting peace after meeting Pakistan’s military chief — a key intermediary.
• US blockade: Iran’s military has threatened shipping in the Red Sea if the US continues its blockade of Iranian ports. The US Central Command said the blockade had “completely halted” Tehran’s economic sea trade, while Iranian media reported four vessels had traveled to and from the country.
• Israel-Lebanon talks: Israel’s security cabinet met to discuss a possible ceasefire in Lebanon, according to an Israeli source, as its military continued its bombardment targeting Iran-backed Hezbollah.
Asian markets track Wall Street rally on hopes of Iran deal
Asian stocks rose on Thursday, tracking record highs in the S&P 500 and the Nasdaq Composite, amid investor optimism about an extension of the ceasefire and a final deal with Iran.
Japan’s benchmark index Nikkei 225 gained 1.58% shortly after the open, while South Korea’s Kospi climbed 1.89%. Hong Kong’s Hang Seng index grew 0.68%, and Taiwan’s Taiex was up 0.48%.
Iran and Pakistan to meet Thursday to discuss messages exchanged with US
Iranian officials and Pakistan’s army chief Asim Munir, will hold talks in Tehran on Thursday to discuss messages that have been exchanged between Iran and the US since negotiations in Pakistan fell apart Sunday, Iran state media Tasnim reported.
Munir, a key intermediary between the US and Iran travelled to Tehran on Wednesday, and met with Iranian Foreign Minister Abbas Araghchi. The Pakistani delegation, headed by Munir, was carrying a message from Washington, Pakistan’s military said earlier.
Araghchi said he was “very pleased” to welcome Munir to Iran in a message released after the meeting, where he affirmed Iran’s commitment to “promoting peace and stability in the region.”
It is not clear whether it is Araghchi who Munir will meet with Thursday. Iran has been exchanging messages with the US through Pakistan, amid a wider diplomatic push for a second round of talks between Tehran and Washington.
Iran used a Chinese spy satellite to target US bases, report claims. Learn more
CNN’s Erin Burnett talks to Demetri Sevastopulo, a US-China correspondent for the Financial Times, about his reporting claiming Iran is using a Chinese spy satellite to target American bases.
Hear what he has to say here:
Former UK foreign secretary warns of humanitarian crisis if Strait of Hormuz not reopened
If the critical Strait of Hormuz is not reopened, former UK Foreign Secretary David Miliband warns of a humanitarian crisis.
See what else he had to say here:
US-Israel conflict with Iran leaves Iraq’s next leader in limbo
Iraq is racing against missing another constitutional deadline to form a government, as the conflict involving the United States, Israel and Iran adds strain to a long-running political deadlock in Baghdad.
Iraq held parliamentary elections on November 11 for its 329-seat legislature but missed its first constitutional deadline by not naming a president within 30 days.
On April 11, Nizar Amidi was elected president and now has 15 days from that date to formally task the nominee of the largest parliamentary bloc with forming a new government — and ultimately selecting a prime minister.
The fight over who becomes prime minister — Iraq’s most powerful post — is no longer just an internal dispute, said Issam al-Faili, an Iraqi political analyst and university professor. He said the US-Iran conflict has made it harder for lawmakers to agree on a candidate.
“Iran wants the next prime minister to support its interests, while the Trump administration is pushing for a candidate who will confront Iran-backed militias and move toward disarming them,” al-Faili said. The United States views the militias “as a threat to its regional interests,” he added.
In practice, al-Faili said, no prime minister is likely to emerge without at least tacit acceptance from Iran.
The US has previously undercut potential candidates, and President Donald Trump has warned that that the US would cut support for Iraq if one former prime minister returned to power.
Iran can signal its preferences through deep networks in Iraq, al-Faili said, including allied political movements such as Islamic Dawa and armed factions within the Popular Mobilization Forces (PMF), an umbrella group of mostly Shiite militias.
Al-Faili said that even if a prime minister is chosen, he is likely to face US pressure to disarm Iranian-backed factions.
Diplomatic efforts take a significant step forward today
CNN’s Nic Robertson in Islamabad reports on the diplomatic efforts of Pakistani officials to bring about another round of U.S.-Iran peace talks.
Diplomatic efforts to restart talks between the US and Iran took a significant step forward today as Pakistani Field Marshal Asim Munir, the key interlocutor between the two countries, arrived in Tehran for meetings with Iranian diplomats.
His presence, and that of Pakistani Interior Minister Moshin Naqvi, shows the level of diplomatic clout that Islamabad is wielding in an attempt to persuade Tehran to come back to the negotiating table.
They will be prodding Tehran to move closer to the US position, which Vice President JD Vance characterized as Washington’s “final and best offer” when talks collapsed at the weekend. But that could prove difficult. Before Munir arrived in Pakistan, a spokesperson for Iran’s Foreign inistry said there was no fresh proposal from Tehran.
It is not clear exactly what is being discussed, but Munir and his delegation will have to find some pathway through the issue of uranium enrichment, which is a key stumbling block in the talks.
Even if it appears ambitious to expect talks here to resume in a couple of days, as President Donald Trump has hinted, Munir’s visit to Tehran attests to tangible momentum to get to another round.
Elsewhere across the region, there has been more diplomatic activity. Officials representing Iran and the United Arab Emirates spoke earlier today for the first time since the war began, while Pakistan’s prime minister and foreign minister are visiting Saudi Arabia, Qatar and Turkey this week.
The Persian Gulf’s Arab countries all have a vested interest in building a lasting peace now that they have been caught in the crosshairs of Iran’s attacks. They are going to want assurances and to know that Iran is not going to do this again.
Qatari leader urges de-escalation in call with Trump
Qatari Emir Sheikh Tamim bin Hamad Al Thani spoke by phone to US President Donald Trump today about ongoing regional tensions and called for de-escalation, according to the emir’s office.
They two leaders discussed the ramifications of rising tensions in the Middle East on energy markets and global supply chains.
“His Highness also stressed the importance of intensifying international efforts to spare the region further escalation,” read the Qatari statement.
The emir underscored the need to use diplomatic means to preserve regional and global security and stability.
CNN has reached out to the White House for comment.
UAE summons Iraqi envoy after attacks
The United Arab Emirates has summoned the Iraqi chargé d’affaires in the country following attacks launched from Iraqi territory in recent weeks, the Emirati Foreign Ministry said Wednesday.
The Iraqi envoy was handed a “protest note” regarding the “terrorist attacks,” it said.
The move comes after the United States and Saudi Arabia also summoned Iraqi representatives over the attacks.
Iran has cultivated a network of proxy militia groups in Iraq over many years, several of which have carried out attacks on US and international forces in Iraq and elsewhere in the region since the US and Israel’s war with Iran began.
White House says it feels “good about prospects of a deal." Catch up here.
The Trump administration feels “good about prospects of a deal” with Iran, the White House said Wednesday, while noting that Pakistan would be the likely location of a potential second round of in-person talks.
And in an interview that aired earlier today, US President Donald Trump told Fox Business’ Maria Bartiromo that he sees the war with Iran as “very close to over.”
Catch up on other headlines:
- The state of peace talks: Pakistani Field Marshal Asim Munir, the key interlocutor between the US and Iran, arrived in Tehran on Wednesday for meetings with Iranian diplomats. Iranian Foreign Minister Abbas Araghchi said Tehran remains committed to promoting peace and stability in the region after the meeting. And press secretary Karoline Leavitt told reporters that any US delegation would likely be returning to Islamabad, where Vice President JD Vance led last weekend’s talks with the Iranians.
- Trump’s war power: For the fourth time this year, the Senate rejected a measure aimed at restricting Trump’s war powers by requiring congressional approval for any future military action against Iran.
- Sanctions: Treasury Secretary Scott Bessent said the US is “now willing to apply secondary sanctions” on countries that buy Iranian oil or take Tehran’s money.
- Strikes in Lebanon: Israel is continuing to strike Hezbollah in Lebanon, Israeli Prime Minister Benjamin Netanyahu said Wednesday. His statement came as his security cabinet met reportedly to discuss a possible ceasefire.
- Ongoing blockade: Iranian media outlets reported that four vessels transited waters near Iran on Wednesday, traveling to and from the country despite a US blockade that took effect Tuesday. Also, the US military appeared to release radio communications of American forces telling vessels in the Gulf of Oman to “discontinue transit to Iran if that is your next port of call” due to the ongoing blockade.
- Suspended exports: Iran’s National Petrochemical Company (NPC) has suspended exports of petrochemical products “until further notice” in order to prioritize domestic supply disrupted by US-Israeli strikes between February 28 and April 8.
- Record high S&P 500: A strong rally in stocks lifted the S&P 500 and Nasdaq Composite to fresh record highs on Wednesday, capping a two-week recovery in which the indexes erased all losses tied to the war with Iran. Investors have leaned in to optimism about the US-Iran ceasefire, although it remains fragile.
CNN’s Mohammed Tawfeeq, Avery Schmitz, Haley Britzky, John Towfighi, Maureen Chowdhury and Morgan Rimmer contributed reporting.
US announces more sanctions on Iranian oil
The US Treasury Department announced sanctions today on more than two dozen individuals, companies and vessels it says are involved in exporting Iranian oil and natural gas.
All these entities are part of a network run by Mohammed Hossein Shamkhani, whose father was a top political adviser to Iran’s slain supreme leader, Ayatollah Ali Khamenei, and was also killed in the US-Israeli strikes, Treasury said.
Nine vessels, a mixture of oil and liquefied petroleum gas tankers, are included in the sanctions, as well as several companies based in the United Arab Emirates.
The announcement comes a day after the Treasury Department announced it would also reinstate its sanctions on all Iranian oil, after temporarily granting Tehran a month-long license to sell oil that has been sitting afloat on tankers.
Treasury Secretary Scott Bessent signaled the US willingness to apply further sanctions today, saying it is ready to impose “secondary sanctions” on countries that buy Iranian oil.
This is not the first time the Trump administration has sanctioned parts of Shamkhani’s vast shipping empire. In July, it announced a much broader set of sanctions against more than 115 individuals, entities and vessels within his network.
After Pakistan meeting, Iran's top diplomat vows commitment to peace
Iranian Foreign Minister Abbas Araghchi said Wednesday that Tehran remains committed to promoting peace and stability in the region, after receiving Pakistan’s chief of the army staff, Field Marshal Asim Munir, and his accompanying delegation in Iran.
Munir, who has emerged as a key intermediary between the United States and Iran, arrived in Tehran at the head of a high-level delegation carrying a message from Washington, according to Pakistan’s military earlier today.
“I am very pleased to have welcomed Field Marshal Munir to Iran,” Araghchi said in a message released after the meeting.
Araghchi also expressed appreciation for Pakistan’s hosting of talks, calling it a reflection of the “depth and strength” of bilateral relations between the two countries.
“Our commitment to promoting peace and stability in the region remains firm, and this commitment is shared between us,” he said.
Israel continues to strike Hezbollah, as security cabinet meets to discuss possible ceasefire
Israel is continuing to strike Hezbollah in Lebanon, Israeli Prime Minister Benjamin Netanyahu said Wednesday – in a statement that came as his security cabinet met reportedly to discuss a possible ceasefire.
Netanyahu said in a video statement that Israel was about to defeat the Hezbollah stronghold of Bint Jbeil, and that he had instructed Israeli forces to extend the security zone eastward to the slopes of Mount Hermon.
He said ongoing negotiations with Lebanon were focused on disarming Hezbollah and achieving sustainable peace. A source has told CNN the security cabinet meeting today is expected to discuss a possible ceasefire in Lebanon.
When asked about reports of a possible ceasefire, a senior Trump administration official said, “This is not something we have asked for nor is it part of the peace negotiations with Iran, but the president would welcome the end of hostilities in Lebanon as part of a peace agreement between Israel and Lebanon.”
This comes a day after US Secretary of State Marco Rubio hosted rare direct talks between Israel and Lebanon. “The United States’ focus is on building trust between the two governments so that we can create space for a peace deal, and so that any future understandings can be durable. Both sides need to build political momentum,” the senior official said.
Regarding Iran, Netanyahu said in his video statement that the US was constantly updating Israel about its contacts with the country. He added that the US and Israel both want to remove enriched uranium from Iran and see the Strait of Hormuz opened.
“It is too early to say how this will end, or even how it will progress. And in light of the possibility that the fighting may resume, we are prepared for any scenario,” he said.
CNN’s Jennifer Hansler contributed reporting to this post.
Iran orders suspension of petrochemical exports, citing war damage and domestic needs
Iran’s National Petrochemical Company (NPC) has suspended exports of petrochemical products “until further notice” in order to prioritize domestic supply disrupted by US-Israeli strikes between February 28 and April 8.
“As you are aware, in view of the current conditions and the damages arising from war and hostile attacks against the country, supporting domestic industries and consumers is of great importance and sensitivity,” Mohammad Motaghi, the NPC’s director of development of downstream industries, said in a letter this week.
Motaghi also said that given poor demand management in downstream industries, export controls are needed to prevent the direct and indirect outflow of goods from the country.
To ensure raw materials for downstream manufacturers inside Iran, Motaghi ordered a halt to petrochemical exports and instructed companies to take steps to return shipments that have been exported but have not yet been delivered abroad.
Iran is a major exporter of polymers such as polyethylene and polypropylene, as well as other petrochemical products used to manufacture plastics and a wide range of consumer and industrial goods.
Senate rejects measure aimed at limiting Trump’s war powers in Iran for fourth time
For the fourth time this year, the Senate rejected a measure aimed at restricting President Donald Trump’s war powers by requiring congressional approval for any future military action in Iran.
The measure failed to advance, 47 to 52. Democratic Sen. John Fetterman joined Republicans in rejecting it, while GOP Sen. Rand Paul voted with Democrats.
Senate Minority Leader Chuck Schumer announced on Tuesday that Democrats are going to force a war powers vote every week for the foreseeable future.
Some Republicans, like Sen. Thom Tillis, have indicated they are open to backing a war powers measure once the conflict hits the 60-day mark, and Senate GOP leadership has not ruled out a vote on authorizing military force after 90 days if the conflict hasn’t wound down by then.
White House feels "good about the prospects of a deal" as negotiations continue
The Trump administration feels “good about prospects of a deal” with Iran, the White House said Wednesday, while noting that Pakistan would be the likely location of a potential second round of in-person talks.
“Nothing is official until you hear it from us here at the White House,” press secretary Karoline Leavitt told reporters about another possible meeting. “But we feel good about the prospects of a deal.”
She added that any US delegation would likely be returning to Islamabad, where Vice President JD Vance led last weekend’s talks with the Iranians.
“They would very likely be in the same place as they were last time,” Leavitt said.
The press secretary also pushed back on reports of a ceasefire extension, which CNN reported earlier Wednesday the US had not formally agreed to.
“So I saw some reporting, again, bad reporting this morning that we had formally requested an extension of the ceasefire. That is not true, at this moment, we remain very much engaged in these negotiations,” Leavitt said.
A possible extension is still on the table, sources familiar with the talks said, but the Trump administration is eager to work out a potential deal as quickly as possible.
US willing to apply secondary sanctions on countries that buy Iranian oil, Bessent says
Treasury Secretary Scott Bessent said that the US is “now willing to apply secondary sanctions” on countries that buy Iranian oil or take Tehran’s money.
Bessent, when pressed about a letter sent by the Treasury Department to allies that suggests current sanctions against Iran are not having the desired impact, said that’s “not a correct characterization.”
“Yesterday, we announced Operation Economic Fury and we, for over a year, we have had maximum pressure on the Iranians, both on blocking payments into the Iranian state and going after the accounts of the IRGC (Islamic Revolutionary Guard Corps),” he said.
The Treasury secretary added that the administration would like to freeze “more funds of the leadership of the IRGC and any members of Iranian leadership.” And, he said, the Trump administration has told countries, “that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions, which is a very stern measure.”
Bessent said they have reiterated the threat specifically to two Chinese banks, though he did not specify which ones.
Remember: In January, President Donald Trump said he would enact a 25% tariff on countries that do business with Iran “effective immediately.” However, that did not appear to take effect at the time.
A tariff on countries doing business with Iran would directly impact China, a major trading partner of both Iran and the United States.
CNN’s Elisabeth Buchwald contributed to this report.
US releases audio of American forces warning ships to "discontinue transit to Iran"
The US military appeared to release radio communications of American forces telling vessels in the Gulf of Oman to “discontinue transit to Iran if that is your next port of call” due to the ongoing blockade.
CENTCOM said in the social media post with the audio that US Navy ships are “on patrol in the Gulf of Oman as CENTCOM continues to execute a US blockade on ships entering and departing Iranian ports.”
The blockade went into effect on Monday morning, and CENTCOM has said that “no vessels” have made it past US forces. However, CNN reported Wednesday that Iranian media has reported four vessels traveled to and from the country on Wednesday, and maritime data shows three of the four entered Iranian waters while the fourth was exiting.
A US official told CNN that interdictions are not occurring in the Strait of Hormuz, which is not a part of the blockade, and are largely taking place in the Gulf of Oman.
S&P 500 hits intraday record high after shedding all Iran war-related losses
The S&P 500 just hit a fresh intraday record high, shrugging off uncertainty and continuing a recent rally on optimism about the fragile US-Iran ceasefire.
The S&P 500 rose 0.5% Wednesday and climbed to 7,003.82 points, surpassing a previous intraday peak of 7,002.28 set on January 28.
US stocks have staged a fierce relief rally on hope for the fragile ceasefire. A pullback in oil prices from recent highs has also helped boost stocks. US crude traded at $95 per barrel Wednesday, down from its Iran war highs above $110, though still well above its pre-war level of $67.
The S&P 500 needs to close with a gain of at least 0.17% to officially close at a record high.
Four vessels traveled to and from Iran despite US blockade, Iranian media say
Iranian media outlets reported that four vessels transited waters near Iran on Wednesday, traveling to and from the country despite a US blockade that took effect Tuesday.
The vessels were the Greek-operated Agios Fanourios, the Chinese-operated Alicia and RHN, and the Iranian-flagged container ship Golbon, according to Iran’s semi-official Tasnim and Mehr news agencies
MarineTraffic data showed the ships’ movements, indicating that three of the vessels entered Iranian waters, while the Golbon was outbound.
The Iranian container ship Golbon — sanctioned by the US Treasury Department’s Office of Foreign Assets Control (OFAC) — “has continued operating near the Strait of Hormuz despite US threats and a US Navy blockade,” Tasnim said.
A US official said Wednesday that interdictions are not occurring in the Strait of Hormuz and are largely taking place in the Gulf of Oman.
US Central Command ( CENTCOM) has said the blockade covers Iranian ports in the Persian Gulf and Gulf of Oman, but not the strait itself, and that traffic unrelated to Iran may continue to transit.
CENTCOM also reported today in a post on X that “during the first 48 hours of the U.S. blockade on ships entering and exiting Iranian ports, no vessels have made it past U.S. forces.”
“Additionally, 9 vessels have complied with direction from U.S. forces to turn around and return toward an Iranian port or coastal area,” it added.
