President Donald Trump has stated that Iranians are eager to reach a peace deal but have not yet achieved one, while the White House dismissed claims from Iranian state media about a draft agreement as a "complete fabrication." Speaking during a cabinet meeting on the 89th day of the US-Israeli conflict with Iran, Trump remarked, "We're not satisfied with it [a proposed deal] - but we will be. Either that, or we'll have to just finish the job."
White House Rejects Iranian State Media Reports
The US president's comments came shortly after the White House rejected reports from Iranian state television citing a draft of an unofficial framework for a memorandum of understanding between Tehran and Washington. The purported agreement allegedly included provisions for reopening the Strait of Hormuz and restoring commercial vessel numbers to pre-war levels within a month, along with the US military lifting its naval blockade on Iranian ports. However, the White House rapid response team stated, "This report from Iranian controlled media is not true and the MOU they 'released' is a complete fabrication. Nobody should believe what Iranian state media is putting out. FACTS MATTER."
European Central Bank Warns of Global Financial Risks
Meanwhile, the European Central Bank (ECB) issued a warning that Trump's trade policies and the war with Iran could trigger a global financial meltdown. In a biannual report, ECB Vice President Luis De Guindos highlighted that Trump's recent strikes on the Strait of Hormuz are testing the resilience of the global financial system. "While the full impact of the war is unclear at this stage, the repercussions for the global economy and financial stability are becoming graver the longer it lasts," he wrote.
Impact on UK Households and Businesses
British households are facing higher energy bills, with the energy price cap rising by 13% to an average of £1,862 per year from July, driven by soaring wholesale gas prices due to the Middle East conflict. Additionally, a report from Barclays revealed that 80% of UK firms have been negatively impacted by the Iran war, with 64% citing increased energy and fuel costs, and 34% affected by higher shipping and logistics costs.
Developments on the Ground
Iranian state media reported incidents at Tehran's Imam Khomeini Airport and a petrochemical complex in Asaluyeh, with a fire at the airport and at least one fatality at the petrochemical plant. Meanwhile, Israeli strikes on Lebanon killed 31 people, including children, according to Lebanon's state-run National News Agency. The IRGC also stated that 25 vessels passed through the Strait of Hormuz with Tehran's permission, warning that any aggression would be met with "crushing blows."
As diplomatic efforts continue, Trump has projected confidence that a deal is near, while his former national security advisor John Bolton expressed hope that negotiations would fail, warning of a "catastrophic loss" for the United States.
