United News of Bangladesh

US President Donald Trump has said a Memorandum of Understanding aimed at ending the US-Israel war with Iran has been “largely negotiated,” with only final details remaining to be resolved. Speaking on Saturday, Trump said the proposed agreement would include reopening the Strait of Hormuz, though it remains subject to final approval by US and Iranian negotiators as well as several other countries involved in the mediation efforts. The announcement came after Trump held a series of calls with leaders and officials from Qatar, Saudi Arabia, United Arab Emirates, Pakistan, Jordan, Egypt, Turkiye and Bahrain. He also spoke separately with Israeli Prime Minister Benjamin Netanyahu. “Final aspects and details of the deal are currently being discussed, and will be announced shortly,” Trump wrote on his Truth Social platform. Pakistan Prime Minister Shehbaz Sharif said Islamabad would continue efforts to facilitate dialogue between Washington and Tehran and expressed hope that Pakistan could host future US-Iran talks soon. Turkish President Recep Tayyip Erdogan welcomed the reported progress, saying any agreement would help restore free navigation through the Strait of Hormuz. In a separate statement, Egypt’s presidency urged all sides to take advantage of the diplomatic momentum and reach a settlement. The latest development follows a week of mixed signals from Trump, who earlier warned Iran that time was running out for a permanent ceasefire agreement. He later said he had been close to resuming attacks but paused military action following requests from Gulf countries. Trump has alternated between warning of escalation and expressing optimism about a deal. On Saturday, he also posted an image of Iran covered with a US flag on social media. The statement came shortly after Pakistan’s army chief, Asim Munir, concluded what Pakistan’s military described as a “highly productive” visit to Iran, during which “encouraging progress” was reportedly made toward a final understanding. Iranian officials, however, have repeatedly expressed caution over negotiations with Washington, citing previous US military strikes on Iran during talks related to Tehran’s nuclear programme. The US and Israel launched the latest conflict on February 28. Although major fighting has largely remained paused since April 8, sporadic flare-ups have continued. The US has maintained restrictions on Iranian ports, while Iran has effectively kept the Strait of Hormuz closed. Major unresolved issues reportedly include the future of Iran’s nuclear programme, Tehran’s influence over the strategic waterway, the future US military presence in the region and access to frozen Iranian assets. Source: Al Jazeera

The ongoing Iran war is putting the United Arab Emirates’ long-standing reputation as a safe haven for business and tourism under growing pressure. For decades, the UAE has promoted itself as a stable destination for international companies and investors in a region often marked by conflict. But the war has brought missile and drone attacks, disrupted oil exports and sharply reduced tourism, raising concerns about the resilience of its economic model. The UAE, a close ally of the United States and Israel, has faced more Iranian missile and drone attacks than any other country during the conflict. Iran’s effective closure of the Strait of Hormuz, a vital route for global energy shipments, has significantly reduced the Emirates’ crude oil and natural gas exports. The Gulf nation has responded by accelerating plans to build a second pipeline to bypass the strait and recently decided to leave the OPEC oil alliance to allow greater long-term production. Although the United States and Israel launched the war, the UAE has become deeply involved because of its strategic location across the Gulf from Iran. A drone strike on Sunday targeted the Barakah nuclear power plant in western Abu Dhabi, highlighting the security risks the country continues to face. Officials said there was no radiation leak and the plant remains operational. Despite these challenges, the UAE’s large financial reserves have helped prevent major job losses and discouraged foreign companies from leaving. However, analysts warn that a prolonged conflict could damage the country’s carefully built image as a stable and reliable place to do business. The UAE has taken an increasingly tough stance against Iran, accusing it of threatening regional security and warning that it reserves the right to respond diplomatically or militarily. “The UAE will not tolerate any threat to its security and sovereignty,” the Foreign Ministry said in a statement on Sunday. The country’s foreign policy has become more assertive in recent years under President Sheikh Mohammed bin Zayed Al Nahyan, whose leadership has shaped the UAE’s growing role in regional conflicts, including in Yemen. The war has also hurt sectors beyond energy. Tourism and business events, which account for more than 12% of the UAE’s economy, have been hit hard. More than 70 scheduled events have been postponed or cancelled since the conflict began in February, according to Northbourne Advisory, a Qatar-based communications firm. Hotel occupancy in Dubai has fallen sharply, with some estimates suggesting rates could drop to as low as 10% in the second quarter, compared with about 80% before the war. Dubai International Airport, one of the world’s busiest for international travel, has restored most of its flight schedule, but recurring missile and drone alerts continue to unsettle businesses and travelers. Even so, Dubai is trying to project a sense of normalcy. The city hosted a shortened version of its annual Art Dubai exhibition over the weekend, where artists said cultural events remain important despite the surrounding conflict. “Life doesn’t stop in a world war,” Beirut-based artist Alfred Tarazi said. “We can only counter a narrative of violence with culture.”

Global stock markets traded mixed on Tuesday as uncertainty over the Iran war and its impact on oil supply continued to unsettle investors. European markets opened higher, with France’s CAC 40 rising 0.6% to 8,034.62, Germany’s DAX gaining 1.1% to 24,574.98 and Britain’s FTSE 100 up 0.6% at 10,384.15. In contrast, US futures pointed slightly lower, with the S&P 500 futures down 0.2% and Dow Jones futures slipping less than 0.1%. In Asia, Japan’s Nikkei 225 fell 0.4% to close at 60,550.59, erasing earlier gains despite government data showing the economy expanded for a second straight quarter in January–March, driven mainly by stronger-than-expected consumer spending. South Korea’s Kospi dropped sharply, ending 3.3% lower at 7,271.66 after falling more than 4% earlier in the session. Major stocks were hit hard, with Hyundai Motor falling 8.9%, LG Electronics down 11.7%, Samsung Electronics losing 2% and SK Hynix declining 5.2%, tracking losses in US tech shares. Elsewhere in the region, Australia’s S&P/ASX 200 rose 1.2% to 8,604.70, while Hong Kong’s Hang Seng gained 0.5% to 25,797.85 and Shanghai Composite added 0.9% to 4,169.54. In energy markets, US crude oil fell 63 cents to $108.03 per barrel, while Brent crude dropped $1.59 to $110.51 per barrel. Prices have been volatile amid concerns that the Iran war could disrupt shipping through the Strait of Hormuz, a key route for global oil transport. Brent crude had been trading near $70 before the conflict escalated. Prices briefly eased after US President Donald Trump signalled a pause on a planned military strike on Iran, saying “serious negotiations” were underway. On Wall Street overnight, the S&P 500 slipped 0.1%, the Dow gained 0.3% and the Nasdaq fell 0.5%. Investors are now awaiting earnings from major US companies, including Nvidia, Target, Home Depot and Walmart, due later this week. In currency trading, the US dollar rose to 159.08 yen from 158.84 yen, while the euro slipped to $1.1632 from $1.1657.

U.S. President Donald Trump said he has decided to hold off on a planned military strike against Iran, citing ongoing negotiations that could potentially end the conflict. Speaking at the White House on Monday, Trump said a “very major attack” scheduled for Tuesday had been postponed to allow time for diplomatic efforts. “There seems to be a very good chance that they can work something out. If we can do that without bombing the hell out of them, I’d be very happy,” he said, after first announcing the decision on social media. Trump added that the delay came at the request of key Gulf allies, who believe a deal with Iran could be reached within days. He said leaders from Qatar, Saudi Arabia and the United Arab Emirates had urged him to give negotiations more time. Despite pausing the strike, Trump warned that the U.S. military remains prepared for a large-scale operation if talks fail. “I have instructed the military to be ready to move forward with a full assault on a moment’s notice if an acceptable deal is not reached,” he said. Trump has repeatedly warned that the fragile ceasefire reached in mid-April could collapse if Iran fails to reach an agreement. Over the weekend, he cautioned Tehran that time was running out to act. While expressing optimism about current negotiations, Trump acknowledged that past efforts to reach a deal had faltered. “This is a very positive development,” he said, adding, “there were times before when it looked like a deal was close, but nothing happened. This is a little bit different.” The president has previously delayed or reversed decisions on military action to allow diplomacy to proceed, although strikes were eventually launched earlier in the conflict after initial hesitation. Meanwhile, tensions remain high across the region, with Iran and allied groups accused of launching drone attacks targeting Gulf states. Trump has also held recent discussions on the situation with Israeli Prime Minister Benjamin Netanyahu and Chinese President Xi Jinping.

US President Donald Trump has said he is not willing to offer any concessions to Iran at this stage, expressing dissatisfaction over Tehran’s latest response to Washington on ending the conflict. In an interview with the media, Trump said Iran is aware of “what’s going to be happening soon,” indicating potential developments ahead. When asked about his earlier remarks on Friday suggesting openness to a 20-year pause in Iran’s nuclear programme, Trump said, “I’m not open to anything right now.” Irish president’s sister also detained after Israeli action on flotilla Meanwhile, former US special envoy to Iran Rob Malley criticised the approach taken by Trump, warning that it risks repeating mistakes similar to the Vietnam War. Speaking to Al Jazeera, Malley said measuring success by the number of Iranian leaders killed or military assets destroyed reflects the “wrong metric.” He stressed that the only viable way to end the conflict is through a negotiated settlement that takes into account the interests of both the United States and Iran. With inputs from Al Jazeera

Iran has warned it is prepared to return to direct military confrontation with the United States if ongoing negotiations fail to yield outcomes it deems acceptable, Foreign Minister Abbas Araghchi said. In a series of state-backed messages aimed at audiences at home and abroad, Araghchi also highlighted the economic repercussions of the US-Israel conflict with Iran, saying the fallout is extending into American households. Israel begins fresh strikes on Lebanon after ceasefire extension He noted that US energy prices and inflation have risen markedly since the conflict began on February 28, a development he linked to the effective closure of the Strait of Hormuz - a key maritime route that typically carries around one-fifth of global oil and gas supplies. “Americans are told that they must absorb rocketing costs of war of choice on Iran,” Araghchi wrote on X, alongside an image showing rising yields on US Treasury bonds. “Beyond the surge in gas prices and stock market volatility, the real strain will be felt as US debt and mortgage rates climb. Auto loan delinquencies are already at a more than 30-year high,” he added. With inputs from Al Jazeera

Iranian Foreign Minister Seyed Abbas Araghchi on Friday said Tehran has no trust in the United States, citing what he described as Washington’s tendency to change its position frequently. “We have no trust in Americans. This is the main obstacle to any diplomatic effort,” he told a group of journalists after the BRICS Foreign Ministers Meeting in the Indian capital, New Delhi. He said Iran has sufficient reasons for its lack of trust, while the United States, in his view, has no grounds to distrust Iran. Vessel seized off UAE coast, believed to be heading toward Iran Araghchi further claimed that after about 40 days of conflict, when the United States became “hopeless” of achieving its objectives in what he termed aggression against Iran, Washington proposed negotiations. Referring to regional tensions, he said certain “warmongers” are seeking to draw the United States into another conflict, expressing hope that “wisdom and diplomacy will prevail” and lead to a negotiated solution. On the issue of the Strait of Hormuz, the Iranian foreign minister said Tehran wants it to remain fully open. “As far as we are concerned, the Strait of Hormuz is open and all vessels can pass, except those of countries that are fighting with us,” he said. Blaming US actions for instability in the region, Araghchi noted that the strategic waterway lies within the territorial waters of Iran and Oman, and stressed that its management should be handled by the two countries. He added that consultations are underway to ensure effective administration of the Strait of Hormuz in the future, guaranteeing safe passage for all vessels.

Foreign ministers from BRICS countries began a two-day meeting in New Delhi on Thursday as the expanded bloc grapples with divisions over the Iran war, rising oil prices and wider global economic uncertainty. The meeting brings together top diplomats from Brazil, Russia, India, China and South Africa, along with newly added member states. It comes at a time when the conflict in Iran has disrupted global energy supplies and pushed up oil prices, while also coinciding with U.S. President Donald Trump’s talks with Chinese leader Xi Jinping in Beijing. Iranian Foreign Minister Abbas Araghchi and Russian Foreign Minister Sergey Lavrov are attending the discussions. China is represented by its ambassador to India, Xu Feihong, as Foreign Minister Wang Yi remains in Beijing during Trump’s visit. Indian Foreign Minister Subrahmanyam Jaishankar said the talks would focus on global and regional challenges, as well as ways to strengthen cooperation among member countries. Opening the meeting, Jaishankar said BRICS could play a stronger role in helping developing countries deal with rising pressures, including high energy, food and fertilizer prices, along with health and financial challenges. He said the global situation is going through “considerable flux” and added that emerging economies increasingly expect BRICS to act as a “constructive and stabilizing force.” Originally formed by Brazil, Russia, India and China, BRICS was created as a platform of major emerging economies seen as an alternative to Western-led institutions like the G7. South Africa joined in 2010, and the bloc expanded further in 2024 with Egypt, Ethiopia, Iran and the United Arab Emirates. Indonesia became a full member in 2025. The grouping has tried to expand its global influence and push for a greater voice for developing countries in international decision-making. It has also gained support in parts of the Global South, where many countries have criticized Western-dominated financial systems. However, internal divisions remain a major challenge. India and China continue to compete for regional influence, while member states often differ in their foreign policy alignments with the West. Russia’s war in Ukraine has also exposed deep differences within the bloc. The expansion of BRICS has further complicated consensus-building, as countries with competing regional interests now sit at the same table. Tensions have become more visible amid the Middle East conflict. Iran and the United Arab Emirates are both BRICS members despite holding opposing positions in regional disputes. Iran’s deputy foreign minister said on Wednesday that internal disagreements over the conflict had prevented the bloc from issuing a unified position. Kazem Gharibabadi told the Press Trust of India that one member country had pushed for language condemning Iran, making consensus difficult. “We want India’s BRICS chairship to be successful. It is not a good approach to send a signal to the world that BRICS is divided. One country is insisting on condemning Iran,” he said.

The global shipping industry is facing growing concerns over fuel shortages after the war involving Iran disrupted supplies of bunker fuel, the heavy oil used to power most cargo ships. The closure of the Strait of Hormuz, a key route for Middle Eastern oil exports, has sharply reduced supplies of bunker fuel to Asia, particularly to Singapore, the world’s largest refuelling hub for ships. Bunker fuel is a thick, low-grade oil left over after crude oil is refined. Although dirtier than fuels used in cars and aircraft, it remains essential to global trade, helping transport around 80 percent of goods traded worldwide by sea. Industry experts warn that a prolonged shortage could significantly increase shipping costs, push up consumer prices and hurt businesses around the world. The impact is being felt most strongly in Asia, which depends heavily on Middle Eastern oil. Fuel reserves in Singapore are shrinking while prices continue to rise. According to commodity analysts, bunker fuel prices in Singapore have surged from around $500 per metric ton before the conflict to more than $800 in early May. Shipping companies are trying to cope by slowing vessel speeds, adjusting schedules and exploring ships that can use alternative fuels. However, analysts say some smaller companies may struggle to survive if the crisis continues. Henning Gloystein of consultancy Eurasia Group said the disruption will eventually spread beyond Asia and affect supply chains worldwide. Asia adopts emergency energy measures Countries across Asia have responded by increasing coal use, buying more oil from Russia and reconsidering nuclear power projects. The region is bracing for further challenges as fuel stocks decline and government subsidies become harder to maintain. More than half of global seaborne trade passed through Asian ports in 2024, according to the United Nations, meaning disruptions in the region could have worldwide consequences. Higher costs likely to reach consumers Shipping firms are absorbing most of the extra costs for now, but analysts say these increases are likely to be passed on to customers. The European Federation for Transport and Environment estimates that the war is costing the global shipping industry about 340 million euros, or nearly $400 million, each day. Risk consultancy Aon said bunker fuel shortages typically affect shipping costs faster than many other market pressures. As transport costs rise, prices of goods ranging from food and electronics to clothing could also increase. Consumers in Singapore are already feeling the impact, with ferry operators raising fares and cruise companies adding fuel surcharges. Alternative fuels gain momentum The crisis is also increasing interest in greener fuels such as liquefied natural gas (LNG). Wärtsilä CEO Håkan Agnevall said rising fossil fuel prices are making cleaner alternatives more financially attractive. The Caravel Group CEO Angad Banga said about one-third of the ships currently under construction under its management will be capable of using both conventional bunker fuel and alternatives such as LNG. Although infrastructure for LNG-powered ships is still limited, industry leaders say investment is growing and progress is being made. Banga said ship owners are increasingly willing to invest in fuel-flexible vessels, as the ability to switch fuels has become more valuable amid ongoing market uncertainty.

US President Donald Trump on Monday said the ceasefire with Iran is “on life support,” rejecting Tehran’s latest proposal to end the conflict and describing it as “totally unacceptable.” Speaking at an unrelated White House event, Trump also termed Iran’s response to a US-backed peace plan as “stupid” and “unbelievably weak,” though he noted that a diplomatic resolution remains “very possible.” Iranian officials, however, pushed back against Washington’s position. Foreign Ministry spokesperson Esmaeil Baghaei said the US had made “unreasonable demands,” while Parliament Speaker Mohammad Bagher Ghalibaf warned that Tehran is prepared to respond to “any aggression.” Ghalibaf said the US should accept Iran’s proposal, cautioning that any alternative approach would be “inconclusive” and could impose greater costs on American taxpayers if delays continue. Amid the diplomatic tensions, the US and the UK have imposed new sanctions targeting Iranian individuals and entities. Meanwhile, violence continues elsewhere in the region. Israeli airstrikes in southern Lebanon reportedly killed four people in Nabatieh, including a 78-year-old woman and her 11-year-old grandson. The Israeli military says it is targeting positions linked to Hezbollah, which in turn claimed to have carried out 20 attacks against Israel. UN humanitarian chief Tom Fletcher expressed concern over the escalating impact on civilians, citing more than 100 Israeli strikes within 24 hours. With tensions persisting on multiple fronts, the already fragile ceasefire between Washington and Tehran appears increasingly uncertain. Source: Al Jazeera