Donald Trump's team believes it is closer than ever to a peace deal with Iran, US officials have reportedly said. A 14-point, one-page memorandum of understanding is being discussed by US envoys Steve Witkoff and Jared Kushner and Iranian officials to end the war and begin a 30-day negotiation period toward a final agreement.
The deal would see Iran commit to a moratorium on uranium enrichment with the US gradually lifting sanctions and releasing frozen Iranian funds, with both sides easing restrictions around the Strait of Hormuz during the negotiation period, as per Axios.
In his latest ultimatum to Tehran, Trump wrote on Truth Social today that if Iran "agrees to give what has been agreed to" - which he called "a big assumption" - then Operation Epic Fury would end and the US blockade of the Strait of Hormuz would be lifted. He added: "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before."
Details of the US Peace Proposal Revealed
A one-page, 14-point memorandum of understanding (MOU) is being negotiated between Donald Trump's envoys Steve Witkoff and Jared Kushner and several Iranian officials, according to Axios. The draft MOU would see Iran commit to a moratorium on uranium enrichment and the US gradually lift sanctions and release frozen Iranian funds, with both sides easing restrictions around the Strait of Hormuz during a 30-day negotiation period, as per Axios. A US official told Axios that Iranian restrictions on shipping through the strait and the US naval blockade would be gradually eased during the 30-day period. If talks collapse, US forces would be able to reinstate the blockade or resume military action, the official said.
Tehran Still Considering US Proposal
A US proposal to end the war with Iran is still under consideration, an Iranian foreign ministry spokesman has said. Esmail Baghaei told Iranian news agency ISNA that Tehran is sharing its views on the proposal with Pakistani mediators.
France Sends Aircraft Carrier to Middle East
France's Charles de Gaulle aircraft carrier and escort vessels are moving south of the Suez Canal and into the Red Sea today, the French armed forces have said. They added that the move is in preparation for an "upcoming multinational initiative to secure the Strait of Hormuz". Col Guillaume Vernet, spokesman for the French armed forces chief of staff, told The Associated Press that the French-British operation is "distinct from the US mission". He said the French-British mission is defensive and consistent with international law.
Iranian Foreign Minister Says Tehran 'Trusts China'
Iranian Foreign Minister Abbas Araghchi said he has held a "constructive meeting" in Beijing with his Chinese counterpart Wang Yi, whom he thanked for reaffirming "Iran's right to uphold national sovereignty and national dignity". "Iran trusts China and looks forward to its continued active role in promoting peace and ending the conflict, as well as supporting the establishment of a new post-war regional framework that can balance development and security," Araghchi said in a statement posted on X.
Iran Is 'Reviewing US Proposal' - Report
Iran is reportedly reviewing a US proposal and will convey its views to Pakistan, according to the ISNA news agency reports, which cites a spokesperson from Iran's foreign ministry. It comes after an earlier report that the White House is closing in on an agreement to end the war, with Washington expecting responses from Iran in the next 48 hours. Donald Trump said this afternoon in a post on Truth Social he believes the war will end if Iran "agrees to give what has been agreed to".
'Too Soon' to Start Thinking About Peace Talks, Trump Says
Donald Trump says it's "too soon" for face-to-face peace talks between the US and Iran to take place, despite reports the two nations were closing in on a deal to end the war. Asked by The New York Post whether the publication should send a reporter to Pakistan for fresh negotiations, Trump replied: "I don't think so."
Economic Shock of War Could See Job Losses in Britain
The economic shock of the Iran war could lead to job losses in Britain over the course of the year, the Work and Pensions Secretary has warned. Asked about the impact of the conflict on the labour market by Sky News, Pat McFadden said: "At the beginning of the year, the economy was going in the right direction. We had stronger growth than we expected. The latest unemployment figures for February showed a fall, interest rates were expected to come down, the markets were pricing in a couple of cuts during the course of the year." He added: "The truth is, with the effect of the Iran war, we can't count on any of that at the moment. There is likely to be an effect on prices, which feeds through from energy costs, and there may well be labour market implications." Asked if this meant job losses, Mr McFadden replied: "Yes. It could happen." When asked what the projections were for how bad job losses could get, Mr McFadden said: "The market projections for unemployment for the rest of the year have been revised upwards as a direct result of the Iran war."
Trump Vows to Start Bombing Iran 'at Much Higher Intensity' Unless Deal Agreed
Donald Trump warns that if Iran doesn't agree to a peace deal then bombing will resume "at a much higher level and intensity". Writing on Truth Social, the US president said if Iran "agrees to give what has been agreed to" the "already legendary" Epic Fury will come to an end, and the blockade of the Strait of Hormuz would also be lifted. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump added.
Oil Price Drops Below $100
Oil prices have dropped amid reports of a possible US-Iran peace deal. A barrel of Brent crude oil dipped below $100 this morning - down more than 8% on last night's close.
Timeline of Talks Between US and Iran
- April 11-12: A two-week ceasefire between the US and Iran, mediated by Pakistan, was due to end on April 22. Negotiations were held in Pakistan as a result, but talks failed over key issues such as Iran's nuclear programme and passage through the Strait of Hormuz.
- April 21: Donald Trump said he would be extending the ceasefire until Iran submits a proposal to end the conflict permanently. He said his representatives are having "very positive discussions with the country of Iran".
- May 3: Iranian Foreign Minister Abbas Araghchi said "talks are making progress".
- May 5: A representative of Pakistan said it was continuing to exchange messages between the US and Iran - with Trump later saying "great progress" had been made toward a "final agreement", reports the BBC.
- May 6: US outlet Axios reported that the White House is closing in on a one-page 14 point memorandum to end the war with Iran.
White House 'Getting Close to an Agreement with Iran' - Report
The White House is reportedly closing in on a one-page memorandum to end the war with Iran, US outlet Axios reports, citing two US officials and two other sources briefed on the issue. The report says the deal would involve Iran committing to a moratorium on nuclear enrichment, the US lifting sanctions on Tehran and both countries lifting restrictions around transit through the Strait of Hormuz. The US is said to be expecting Iranian responses in the next 48 hours.
Pakistani PM Thanks Trump for 'Gracious Response' in Pausing Project Freedom
Pakistan's prime minister Shehbaz Sharif has thanked Donald Trump for pausing Project Freedom. Sharif says the "gracious response" by Trump following requests from Pakistan and Saudi Arabia "will go a long way towards advancing regional peace, stability and reconciliation during this sensitive period". Pakistan remains "firmly committed to supporting all efforts that promote restraint and a peaceful resolution," he added.
French Ship Attacked in Strait of Hormuz
A French ship was attacked while transiting the Strait of Hormuz yesterday, leaving crew members injured, shipping group CMA CGM says. The attack, said to have taken place around 6:30pm UTC, also resulted in damage to the vessel. "CMA CGM is closely monitoring the situation and remains fully mobilised alongside the crew," CMA CGM said in a statement.
A Recap of the Last 24 Hours as Trump Pauses Project Freedom
Donald Trump announced last night that the US has paused Project Freedom - an operation launched on Monday to guide stranded ships through the Strait of Hormuz. He said the pause will last "for a short period of time" to see if a peace deal with Iran "can be finalised" - but that the US blockade of Iran's ports will continue. Iranian state media responded to the news by saying Trump has "retreated" and is trying to "cover up the failure" of his operation. At a press conference yesterday, US Defence Secretary Pete Hegseth insisted the Iran-US truce was not over, despite clashes in the Strait of Hormuz over the weekend. Iran claims it stopped and hit a US warship, while the US claims to have hit several "small boats". Iran was blamed for an attack on a major oil refinery in the UAE on Monday, which left three Indian nationals injured. The UAE accused Iran of launching "a barrage" of missiles and drones at the port of the eastern emirate of Fujairah. US Secretary of State Marco Rubio said at least 10 sailors have already died as a result of the closure of the Strait of Hormuz. He said the US is coming to the aid of some "23,000 civilian sailors" who have been "stranded" and "left for dead" in the Persian Gulf, adding that Iran needs to "come to the negotiating table" and "accept terms".
Next to Hike Prices Overseas as It Faces Higher Iran War Cost Hit
Next has warned it is facing a cost hit of nearly £50 million from the Iran war and is set to raise prices in some overseas countries by as much as 8% to offset the impact. The fashion and homewares chain increased its estimated cost of the Middle East conflict to £47 million from the £15 million guidance given in March as it now expects disruption for the remainder of its financial year to next January. It said it would look to hike prices in international countries from May, but said efforts to make cost savings would mean it does not need to push through extra price increases in the UK and Europe. Next said: "We plan to mitigate the ongoing cost increases caused by the conflict in the Middle East with a combination of moderate price increases in some international territories and operational cost savings. Based on our current estimates, we do not anticipate increasing our UK prices over and above the 0.6% we had forecast at the beginning of the year."
Iran Says FIFA Must Ensure Country Is Not Insulted During World Cup
The head of Iran's football federation, Mehdi Taj, has said FIFA must guarantee the Iranian Revolutionary Guard Corps is not "insulted" by the US during the World Cup. "We need a guarantee there, for our trip, that they have no right to insult the symbols of our system, especially the Islamic Revolutionary Guard Corps," Taj said. "We are going to the World Cup, for which we qualified, and our host is FIFA – not Mr. Trump or America. If they accept hosting us, then they must also accept that they must not insult our military institutions in any way." The FIFA World Cup will start June 11, with matches played across the US, Canada and Mexico.
Trump's Full Statement on Pause of 'Project Freedom'
Trump wrote in a post on Truth Social on Tuesday, May 5: "Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed. President DONALD J. TRUMP"
Trump Says 'Project Freedom Is Paused' as Strait of Hormuz US Blockade Goes On
US President Donald Trump has halted the US-led movement of ships out of the Strait of Hormuz. The Strait of Hormuz has been a flashpoint since the US-Iran war started more than two months ago. The US and Israel carried out joint strikes on several key Iranian sites from February 28. Iran retaliated by striking sites across the Middle East and closing the strait, through which 20% of global oil traded passes.
US and Israeli Officials Believe Trump May Restart War 'Later This Week'
Barak Ravid, a reporter for Axios, has reported that some US and Israeli officials believe President Donald Trump "could give an order to resume the war later this week if the diplomatic stalemate continues".
Cargo Ship Hit in Strait of Hormuz, Says UKMTO
The UK Maritime Trade Operations (UKMTO) Centre says it has received a report of "an incident within the Strait of Hormuz". A verified source reported that "a cargo vessel has been struck by an unknown projectile", the UKMTO said, adding: "Environmental impact is unknown at time of report."
Rubio Says War with Iran Is Over, but Says Peace Is Still Elusive
Secretary of State Marco Rubio says the major US military operation against Iran is over but is stopping short of saying the conflict is over or cannot be restarted. Speaking to reporters at the White House, Rubio said "Operation Epic Fury" - the attack the US and Israel launched on Iran on February 28 - "is concluded" because the objectives of the mission were all successfully completed. "We're not cheering for an additional situation to occur," he said. "We would prefer the path of peace." In order for that to happen, Rubio said Iran must agree to Trump's demands on its nuclear programme and to reopen the Strait of Hormuz.
Rubio Downplays Impact of Iran War on Gas Prices
Marco Rubio has downplayed the direct impact of the Iran war on rising gas prices, despite Americans reportedly paying 50% more at the pump than before the conflict began. "It's obviously being driven by global events," Rubio told reporters at a White House press briefing Tuesday afternoon. "That was true during the Russia-Ukraine war as well." With gas now $4.50 per gallon on average across the US, Rubio said other parts of the world "are really suffering big time" and the US is "more insulated than other countries."
'It Is in China's Interest That Iran Stop Closing the Strait,' Rubio Says
As Iranian Foreign Minister Abbas Araghchi prepares to visit China tomorrow, Rubio said he hopes Tehran's allies in Beijing reiterate the need for Iran to release its chokehold on the Strait of Hormuz. "I hope the Chinese tell him what he needs to be told," Rubio said in response to a reporter's question about the upcoming visit. "And that is that what you are doing in the strait is causing you to be globally isolated. You're the bad guy in this." He went on to argue that China - more than the US - is suffering from Iran's actions in the strait. "It is in China's interest that Iran stop closing the strait," he added.
Iran 'Really Shouldn't Test the Will of the US', Warns Rubio
US Secretary of State Marco Rubio said it's important for Iran to "come to the negotiating table" and "accept terms". "The alternative is growing isolation, economic collapse, and ultimately total defeat," he said. "They really shouldn't test the will of the United States."
US Coming to Aid of Civilian Sailors 'Left for Dead', Rubio Says
Speaking in a White House briefing, US Secretary of State Marco Rubio has been outlining "Project Freedom", an operation in which the US is helping guide "stranded commercial ships" through the Strait of Hormuz following Iran's closure of the key shipping route. Rubio said about 23,000 civilian sailors are stranded in the Persian Gulf and "left for dead" in the strait. "They're sitting ducks, they're isolated, they're starving, they're vulnerable," Rubio said. "At least 10 sailors have already died as a result."
