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US President Donald Trump has issued a stern warning that the United States will resume military action against Iran if a nuclear deal is not reached. Speaking in a recent statement, Trump emphasized that the US will 'start dropping bombs again' if diplomatic efforts fail to produce a satisfactory agreement.The statement comes amid ongoing tensions between the US and Iran over the country's nuclear program. Trump's comments have sparked concerns about a potential escalation of conflict in the region.The US has been engaged in diplomatic efforts to revive the Iran nuclear deal, which was withdrawn from by the Trump administration in 2018. The deal, also known as the Joint Comprehensive Plan of Action (JCPOA), aimed to limit Iran's nuclear activities in exchange for relief from economic sanctions.Trump's warning has heightened concerns about a potential military conflict in the region, with many countries and international organizations calling for a peaceful resolution to the crisis.

Iranian authorities have dismissed former U.S. President Donald Trump's statement alleging the existence of a deal to surrender nuclear material stockpiles. In a brief statement, Tehran's foreign ministry clarified that no such agreement has been negotiated or signed, countering the former president's public remarks.The rejection underscores ongoing tensions between Tehran and Washington over the country's nuclear program, a subject that continues to dominate diplomatic discourse. While Trump suggested progress toward a disarmament arrangement, Iranian officials stressed that any claims of a finalized deal are unfounded and do not reflect the current state of negotiations.Analysts note that the divergence in narratives may further complicate efforts to revive the 2015 Joint Comprehensive Plan of Action (JCPOA) or any future framework aimed at limiting Iran's nuclear capabilities. The Iranian response serves as a reminder that official channels and verified agreements remain the only credible basis for assessing nuclear non‑proliferation developments.

US President Donald Trump has made a series of claims about concessions secured from Iran ahead of possible ceasefire talks, including that Tehran has agreed to keep the Strait of Hormuz open and turn over its nuclear stockpile.On Friday, Trump posted on Truth Social that Iran had agreed to open — and “never close” — the Strait of Hormuz, a critical waterway for global oil shipments. He also claimed that Iran would turn over its “nuclear dust” and that Israel would be “prohibited” from launching attacks in Lebanon.Iran has confirmed reopening the Strait of Hormuz for the “duration” of the current pause in fighting, which is set to end early next week. However, officials have pushed back on claims regarding its nuclear stockpile, with a source telling Al Jazeera negotiations remain at a preliminary stage.Despite the outstanding questions, Trump struck a celebratory tone, calling Friday “A GREAT AND BRILLIANT DAY FOR THE WORLD!” He also told Bloomberg News that he expected talks to move forward on Sunday with a permanent ceasefire deal in sight.“We’re not seeing the full picture,” Yezid Sayigh, a senior fellow at the Carnegie Middle East Center, told Al Jazeera, pointing to Trump’s penchant for hyperbole and several unresolved issues. “But this does suggest a positive momentum towards something that may end up being a comprehensive deal.”Sayigh added that Trump could have ulterior motives in striking an upbeat tone, at a time when the chokehold in the Strait of Hormuz is driving up prices for everything from fuel to fertiliser.“It is very interesting that President Trump is putting such a positive spin on things, not only to encourage markets and talk down oil prices and talk stock market prices up,” Sayigh said. “But also, I suspect, because he’s preparing the ground for more revelations about what is being negotiated with Iran.”

The International Monetary Fund (IMF) has downgraded its global growth forecast for 2026 from 3.3% to 3.1%, citing the impact of the US-Israeli war on Iran and the shutdown of the Strait of Hormuz on the world economy. In a worst-case scenario of a prolonged war, global growth could fall to 2.5% in 2026, with low-income and developing economies hit the hardest by soaring commodity and energy prices. However, some industries are benefiting from the uncertainty: Wall Street Investment Banks Wall Street investment banks are thriving due to increased trading activity, with Morgan Stanley reporting a profit of $5.57bn, up 29% year on year, and Goldman Sachs reporting a profit of $5.63bn, up 19% year on year. Aerospace and Defence The aerospace and defence industries are booming due to increased global defence spending, with the MSCI World Aerospace and Defence Index reporting net returns of 32% year on year. Artificial Intelligence The AI industry is expected to grow from $189bn in 2023 to $4.8 trillion by 2033, with Taiwan Semiconductor Manufacturing Company posting a net income of $18.1bn for the first three months of 2026, up 58% year on year. Renewable Energy The renewable energy sector is also benefiting from the war, with 150 countries having active policies to advance renewable and nuclear deployment, and the S&P; Global Clean Energy Transition Index up 70.92% year on year.

Hungary’s political landscape shifted dramatically last weekend when Peter Magyar secured a landslide victory, ending Viktor Orban’s 16‑year rule. Magyar, now head of the centre‑right Tisza party, has pledged to steer the nation back toward the European Union and to eliminate Russian oil imports by 2035. Under Orban, Hungary deepened its energy ties with Moscow, opposing EU sanctions and blocking military aid to Ukraine. The country became a key conduit for Russian oil and gas into the EU, largely via the Druzhba pipeline, which delivered up to 93% of Hungary’s crude by 2025, up from 61% in 2021, according to a 2026 Center for the Study of Democracy (CSD) report. Gas dependence is similarly stark: the CSD data show that roughly three‑quarters of Hungary’s annual gas imports come from Russia, amounting to an estimated €15.6 billion ($18.4 bn) since the invasion of Ukraine. Long‑term contracts with Gazprom and reliance on the TurkStream pipeline have locked Hungary into Moscow’s re‑engineered gas export system. Hungary’s nuclear sector also ties it to Russia. The Paks plant, which supplies 40‑50% of the nation’s electricity, is being expanded with financing from Russia’s state nuclear corporation Rosatom. The expansion would raise nuclear output to 60‑70%, reducing overall import needs but preserving a strategic link to Moscow. Magyar acknowledges the difficulty of a swift break. "The geographical position of neither Russia nor Hungary will change. Our energy exposure will also be here for a while," he told voters before the election. Yet he insists that ending dependence does not mean abandoning all contracts, emphasizing a need to balance existing obligations with a political shift away from Russia. Analysts note that diversification will be costly. Russian oil has been purchased at discounted rates due to Western sanctions, and alternatives—such as the Adria pipeline delivering non‑Russian crude to Hungarian refiner MOL—are more expensive. A 2025 joint study by CSD and the Center for Research on Energy and Clean Air suggests the Adria route could help, but price differentials remain a barrier. The EU has set a binding deadline to phase out Russian oil and gas by late 2027. Magyar’s 2035 target therefore exceeds the bloc’s timetable, raising questions about Hungary’s compliance and its future relations with Brussels. European Council on Foreign Relations senior fellow Pawel Zerka warns that Hungary lacks easy substitutes, especially given global supply disruptions like the Strait of Hormuz closure, which has halted 20% of world oil and LNG shipments. Domestically, public sentiment appears hostile to Russia; a recent ECFR poll shows a majority of Tisza voters view Moscow as an adversary. This political pressure limits Magyar’s ability to maintain cordial ties with President Vladimir Putin while pursuing energy security. In summary, Hungary faces a complex transition: it must untangle decades of energy interdependence, manage higher costs for alternative supplies, and align its timeline with EU mandates—all while navigating domestic expectations and regional geopolitical tensions.

Iran’s foreign minister Abbas Araghchi posted on X that, in line with the 10‑day Israel‑Lebanon ceasefire, the Strait of Hormuz is "completely open" for all commercial vessels for the remainder of the truce. The declaration follows a fragile agreement between Israel and Lebanon, whose acceptance by Hezbollah remains uncertain. The Iranian Ports and Maritime Organisation has already outlined a coordinated routing system for vessels, ensuring that traffic proceeds under strict supervision by the Islamic Revolutionary Guard Corps Navy, which will permit only non‑military ships. U.S. President Donald Trump echoed the openness of the strait in a social‑media post, emphasizing that it is "ready for business and full passage." However, he added that the U.S. naval blockade will continue "until Iran reaches a deal with the United States to end the war," signalling that commercial freedom does not equate to a lift of sanctions. Trump also claimed that Iran has pledged to "never close the Strait of Hormuz again," describing the waterway’s previous use as a "weapon against the world." A senior Iranian military official clarified that this promise applies solely to non‑military vessels, with IRGC Navy oversight. The conflict, which began on 28 February, has already claimed over 3,000 lives and saw Iran previously block the strait—a chokepoint through which roughly 20% of global oil and LNG shipments flow. After stalled U.S.–Iran talks in Pakistan, the United States expanded its blockade to Iranian ports in the Gulf. In Washington, Trump reiterated his administration’s pressure on Tehran to abandon its nuclear ambitions. He suggested a potential "cash‑for‑uranium" deal worth $20 billion, later describing the prospect of acquiring Iran’s "nuclear dust" without payment—a claim dismissed by Iran’s state media, which said no such negotiations ever occurred. Trump also announced that Israel is now "prohibited" from bombing Lebanon, stating that any U.S.–Iran agreement is not contingent on developments in Lebanon. UN peacekeepers reported no air attacks since midnight, though they accused Israeli forces of violating Lebanese airspace and conducting artillery fire. According to the U.S. Department of State, Israel may act in self‑defence against imminent threats but is barred from offensive operations in southern Lebanon. Senior analyst Mairav Zonszein of the International Crisis Group described the direct talks between Lebanon and Israel as a "potential breakthrough," while cautioning that a durable settlement remains distant. He noted that a diplomatic track strengthening the Lebanese government could gradually diminish Hezbollah’s political influence. Overall, the simultaneous declaration of an open strait and the continuation of a U.S. blockade underscores the complex interplay of commercial interests, regional security, and the broader quest for a diplomatic resolution to the Middle‑East conflict.

US President Donald Trump has expressed optimism about a potential nuclear deal with Iran, stating that the two countries are close to an agreement. He claimed that Iran has agreed to halt its nuclear weapons program and return its stockpile of enriched uranium.However, Iran's Ministry of Foreign Affairs presents a different picture. Spokesperson Esmaeil Baghaei stated that Iran must be able to continue enrichment based on its needs, contradicting Trump's claims. No Iranian official has confirmed agreeing to surrender the country's enriched uranium stockpile.Pakistan is playing a crucial role in mediating between the US and Iran. Pakistani army chief Field Marshal Asim Munir held high-level meetings in Tehran with Iranian leaders, including Parliament Speaker Mohammad Bagher Ghalibaf and President Masoud Pezeshkian. Prime Minister Shehbaz Sharif is also engaged in parallel diplomacy with Gulf leaders in Saudi Arabia and Qatar.The US and Iran have different interpretations of the negotiations. Trump's comments suggest a maximalist reading of the negotiating process, while Iran's position remains firm on its sovereign right to enrichment. The April 22 ceasefire deadline adds urgency to the talks.Analysts suggest that any agreement may hinge on deliberate ambiguity, allowing both sides to claim a 'win' on the nuclear issue. The shifting goalposts and evolving US objectives have also contributed to the complexity of the negotiations.

Iran’s foreign minister Abbas Araghchi announced that the Strait of Hormuz is now fully open to commercial vessels, a statement that raised hopes for de‑escalation in the Middle‑East conflict and sent global oil prices tumbling. President Donald Trump took to social media to celebrate the news, proclaiming it a "great and brilliant day for the world" and asserting that Iran had pledged never to shut the strategic waterway again. Trump also claimed that Tehran had agreed to suspend its nuclear programme indefinitely and would forfeit any frozen U.S. funds, suggesting that a deal‑making session could occur over the upcoming weekend. In contrast, the Islamic Revolutionary Guard Corps (IRGC) offered only qualified support for Araghchi’s declaration, indicating that commercial traffic would be permitted only along a prescribed route and under IRGC naval permission. The United States, however, signalled that its naval blockade of Iranian ports will remain in force until all transactions are completed, warning that few vessels are likely to risk passage under the current uncertainty. Oil markets reacted swiftly: Brent crude slipped below $90 per barrel, easing inflationary pressures that had surged after the strait’s earlier closure. Simultaneously, a ten‑day truce in Lebanon entered its second day, temporarily halting Israeli airstrikes against Hezbollah‑aligned forces and offering a brief respite to civilians after weeks of intense fighting. Despite the truce, an Israeli drone strike in southern Lebanon killed a civilian, and Defence Minister Israel Katz reiterated that the Israeli Defence Forces were not withdrawing and could resume operations. In Paris, representatives from roughly 40 nations gathered at a conference co‑chaired by France and the United Kingdom to discuss a coordinated plan for safeguarding the strait, which historically carries about one‑fifth of the world’s oil and gas shipments. French President Emmanuel Macron welcomed Araghchi’s statement but urged a "full, unconditional reopening" by all parties, while UK Prime Minister Keir Starmer called for any reopening plan to be "lasting and workable". The International Maritime Organization’s secretary‑general, Arsenio Domínguez, said the agency is reviewing the announcement to ensure it complies with the principle of free navigation for all merchant vessels. Pakistan’s army chief Field Marshal Asim Munir, acting as a key mediator, arrived in Tehran to advance negotiations for a more durable peace, underscoring Pakistan’s growing diplomatic role in the region. Overall, while the Hormuz opening has eased immediate market pressures, the broader geopolitical landscape remains volatile, with the U.S.–Iran cease‑fire set to expire soon and regional actors still poised for further confrontation.

UK Chancellor Rachel Reeves is poised to raise the government's windfall tax on low-carbon electricity generators to help limit household energy bills. The levy, introduced in 2022, targets excess profits made by owners of older renewable energy and nuclear plants.The chancellor is ready to hike the electricity generator levy, which currently stands at 45%, as electricity market prices soared following Russia's invasion of Ukraine. The increased tax will help shield consumer energy bills in the short term while the government consults on long-term plans to reform the wholesale market.The government is also expected to consult on plans to shift older, low-carbon projects onto newer set-price contracts, providing electricity at a guaranteed price. This move aims to weaken the link between gas market prices and electricity costs, which has led to a surge in electricity market prices across Europe.Executives across the industry have been informed to expect contact from officials on Monday to outline the government's determination to protect electricity costs from the surge in gas markets. The plans have already impacted shares in energy companies, with SSE falling over 6% and Centrica closing down 5% on Friday.The proposed reforms have sparked concerns within the industry, with some viewing them as a fundamental reform of energy markets. The government is considering radical proposals, including removing gas plants from the market and holding them in strategic reserve.