US unlikely to accept offer to end Hormuz chokehold without nuclear program discussions
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Iran's Parliament Speaker Mohammad Bagher Ghalibaf has mocked the US naval blockade. In his taunt, Ghalibaf mocked the Trump administration's oil strategy, noting that after three days, no Iranian oil wells had "exploded" from the predicted pressure buildup caused by blocked exports.
At least 41 crude oil tankers laden with 69 million barrels of crude oil from Iran — estimated at $6 billion in market value — had been redirected by the US military after the ships attempted to breach the naval blockade near the Hormuz Strait, according to the US Central Command.
US President Donald Trump says ongoing talks with Iran have “come a long way,” but warned that no agreement will be reached unless Tehran formally renounces the development of nuclear weapons. Trump’s remarks underscore a high-stakes diplomatic and strategic standoff that has persisted even amid intermittent ceasefires and military pressure.
Iran's delegation to the FIFA Congress, due to be held this week in Vancouver, left Canada on Wednesday before the global football gathering because of an "insult" at immigration at Toronto's international airport, Iranian media reported.
The Iranian delegation "returned to Turkey on the first flight due to the inappropriate behaviour of the immigration officials at the airport and the insult to one of the most honourable organs of the Iranian Armed Forces", several outlets reported, without providing further details.
In 2024, Canada designated Iran's Revolutionary Guards a terror group, barring its members from entering the country.
Russian President Vladimir Putin spoke by phone with US counterpart Donald Trump, Putin's diplomatic advisor Yuri Ushakov told reporters Wednesday, adding that the two leaders focused primarily on the Middle East war.
"The presidents paid particular attention to the situation regarding Iran and in the Persian Gulf," Ushakov said.
"Vladimir Putin considers Donald Trump's decision to extend the ceasefire with Iran to be the right one, as this should give negotiations a chance and, overall, help to stabilise the situation."
Brent oil prices surged Wednesday to more than $119 a barrel, its highest level since early 2022, raising the economic toll from the war in the Middle East.
Near 1715 GMT, Brent oil futures were up 7.6 per cent at $119.69, its highest level since the early days of the Ukraine war in 2022. Oil prices have surged since the US-Israel attacks prompted Iran to effectively close the Strait of Hormuz, a key waterway for petroleum deliveries.
Israel's military chief Lieutenant General Eyal Zamir vowed to strike Hezbollah targets north of the Litani River and beyond the so-called "Yellow Line" during a visit to south Lebanon on Wednesday.
"Any threat, anywhere, against our communities or our forces - including beyond the Yellow Line and north of the Litani - will be eliminated," Zamir said, according to a military statement issued after his visit to troops stationed within Israel's security zone in southern Lebanon.
US Defence Secretary Pete Hegseth repeatedly clashed with Democratic lawmakers over the Iran war on Wednesday, in his first testimony to Congress since US President Donald Trump launched the conflict more than two months ago.
Appearing before the House Armed Services Committee, Hegseth quickly struck a combative tone, saying in his opening remarks that the main challenge at this point is the "defeatist words of congressional Democrats and some Republicans."
Representative Adam Smith - the committee's top Democrat - took aim at the regional fallout from the war and its toll on both US troops as well as civilians, saying he wanted answers on where the conflict is going and "the plan to achieve our objectives."
He later asked Hegseth how the "lethal, kinetic action" of the war could be turned into an improvement when it comes to Iran's nuclear program, which Washington is seeking to eliminate.
Hegseth responded by taking aim at the "very bad" Iran nuclear agreement that Trump scrapped during his first term in office.
Iran's speaker of parliament Mohammad Bagher Ghalibaf, who has emerged as a figurehead since the start of the Middle East war, said on Wednesday the United States' naval blockade of the country aimed to create division and "make us collapse from within".
He said US President Donald Trump "divides the country into two groups: hardliners and moderates, and then immediately talks about a naval blockade to force Iran into submission through economic pressure and internal discord," state TV reported.
Ghalibaf, a powerful figure, has grown in prominence since the start of the war and was the lead negotiator in the so far only round of direct US-Iranian talks.
"The enemy has entered a new phase and wants to activate economic pressure and internal division through naval blockade and media hype to weaken or even make us collapse from within," he said on Wednesday.
French oil and gas giant TotalEnergies said Wednesday net profit had risen 51 per cent in the first quarter to $5.8 billion, boosted by higher oil prices linked to the war in the Middle East, drawing criticism from climate groups.
Growth in its oil and gas production in Brazil, Libya and Australia allowed the group to offset losses in the Gulf region, which is normally equivalent to 15 per cent of its total oil and gas business, the company said in a statement.
It also highlighted its "ability to capitalise on rising prices".
The company's oil and gas production rose four per cent in the quarter, with the amount of liquefied natural gas transported by sea gaining 12 per cent.
TotalEnergies also said its trading arm had produced "a very strong performance."
