U.S. President ‌Donald Trump said ⁠the Strait of Hormuz ‌will be ‌open ‌to everyone ⁠and not ⁠controlled by any country under ‌any deal reached with Iran.

“We’ll watch over ‌it, but nobody’s going ⁠to control it. That’s part ‌of the negotiation that we have,” ‌Mr. Trump told a meeting of his cabinet. 

He also mentioned that he is not talking about “easing sanctions on Iran.” 

-AP

U.S. ‌President Donald Trump said in ⁠a cabinet meeting that Iran very ‌much wanted to make a ‌deal, but ‌that ⁠the U.S. ⁠was not satisfied with it yet.

“Iran is very much ‌intent, they want very much to make a deal. ‌So far they haven’t gotten there ... we’re ⁠not satisfied with it, but we will ‌be. We will be either that or we’ll have to just finish ‌the job,” Trump told reporters at a cabinet ⁠meeting at the White ⁠House.

-Reuters

Iran and the United States appeared to be cautiously edging toward a deal to end the war that erupted in late February, despite deep mistrust and a brief military flare-up this week.

Frozen assets

Iran has said it is finalising a 14-point framework agreement with the United States, prioritising an end to the war “on all fronts”, including Lebanon, where Israel has stepped up its attacks on Iran-backed Hezbollah.

Iranian officials have publicly disclosed only broad outlines of the proposal, with further details emerging through Iranian media reports.

Nuclear programme

Mr. Baqaei said details related to Iran’s nuclear programme -- a major sticking point for Washington -- would be deferred to a later stage after agreement on the framework.

Iranian media reported that nuclear-related issues, including enrichment levels and the fate of Iran’s highly enriched uranium stockpile, would be negotiated during a 60-day period following the signing of the memorandum.

Hormuz and the U.S. naval blockade

Iran has maintained tight control over the Strait of Hormuz, a vital global energy shipping route, since the outbreak of the war, while the United States has imposed a naval blockade on Iranian ports since April 13.

Iranian foreign ministry spokesman Esmaeil Baqaei confirmed that the draft framework included provisions related to ending the US blockade and arrangements governing the Strait of Hormuz.

-AFP

Iran’s Intelligence Ministry said that the goal of the United States and Israel remained to overthrow the Islamic Republic and break up the country.

“The enemy is now pursuing through other means the objective of overthrowing and partitioning the country, which it openly declared at the beginning of the recent war but failed to achieve through military attack,” the ministry said in a statement carried by Iranian media.

Tehran would restore shipping through the Strait of Hormuz to pre-war levels within a month ‌in a framework deal with the U.S. to also include withdrawing U.S. forces from Iran’s vicinity, Iranian state television reported on Wednesday. The report said the U.S. would end a naval blockade of ⁠Iranian shipping, citing a memorandum of understanding being negotiated between the two sides to end the war which has choked global energy supplies through the strategic waterway.

Iranian state TV said it had obtained an unofficial draft of the MOU, though it was not final ‌and may not be agreed. The U.S. denied the report, saying it was “complete fabrication” in a White House statement on social media.

Iran’s government did not comment. The issue of U.S. troops in the ‌region also needs further discussion, the TV report said without being more specific.

There was no mention of Iran’s ‌nuclear ⁠programme, which the U.S. wants disbanded.

-Reuters

U.S. military contractors need at least three years to replenish stockpiles of three key weapons systems used heavily in the Iran war, according to an analysis released, adding to concerns that American forces would have limited firepower in any future conflict with China.

The weapons systems are Tomahawk cruise missiles, which are used to strike targets deep inside enemy territory, and Patriot and THAAD interceptors that defend against incoming missiles and drones.

“The United States has enough munitions for any plausible scenario in the Iran war, but the depleted inventories have created a window of vulnerability for a potential Western Pacific conflict,” the Center for Strategic and International Studies said in its new report, provided to The Associated Press. “The time needed to rebuild those inventories has thus become a major concern.”

China has a stated goal of ensuring its military is capable of taking Taiwan by force if necessary by 2027, which experts see as more aspirational than a hard deadline. But Chinese President Xi Jinping warned this month that if Washington mishandles its relations with the self-governing island, the U.S. and China could end up clashing or even in open conflict.

The analysis by the Washington think tank factors in the Republican Trump administration’s historic defence budget proposal of $1.5 trillion for 2027, which significantly accelerates spending on high-end munitions that began during the Democratic Biden administration. While there’s bipartisan agreement in Congress to boost inventories, “the problem today isn’t money; it’s time,” the report said. 

-AP

Iran’s State TV ‌said Tehran had obtained a draft of an initial, unofficial framework ⁠for a memorandum of understanding with the United States on ending their conflict.

Under the ‌framework, Iran would restore commercial shipping through the Strait of Hormuz ‌to pre-war levels within ‌a ⁠month, while the United States would ⁠withdraw military forces from Iran’s vicinity and lift a naval blockade.

State TV said the framework, which excludes ‌military vessels and envisages Iran managing ship traffic through the strait in cooperation with Oman, was not yet ‌finalised and that Tehran would take no steps without “tangible verification”.

It added that if a final ⁠agreement was reached within 60 days, it could be approved as a ‌binding U.N. Security Council resolution.

The emerging U.S.-Iran MoU stems from indirect talks launched after the war that began in February, with Pakistan playing a central mediating role between Tehran and ‌Washington.

-Reuters

Israel said on Wednesday (May 27, 2026) that it targeted and killed the new leader of Hamas’ military wing during airstrikes in Gaza City, less than two weeks after it killed his predecessor.

Israel’s Defence Minister, Israel Katz, and the Israeli military said the strikes, which were carried out on Tuesday (May 26), killed Mohammed Odeh.

CNN reported results of key polls conducted in recent weeks, where the American public expressed its inhibitions that they did not like the war to begin with and that they don’t think it will result in much positive outcomes. Citing a Fox News poll last week it reported that polls showed just 39% of registered voters wanted U.S. military operations to last “as long as it takes to achieve U.S. objectives”, compared to 61% who instead preferred a “limited timeframe”.

A New York Times-Siena College poll showed 52% of registered voters said the United States should end military operations even if it can’t reach a deal with Iran on its nuclear programme and that just 37% wanted to resume military operations if the countries can’t come to an agreement on Iran’s nuclear programme. — ANI

Meanwhile, CNN also reported that the Islamic Revolutionary Guard Corps (IRGC) threatened to retaliate after the U.S. carried out what it described as “self-defence strikes” on Iranian missile launch sites and boats around the Strait of Hormuz. 

As per the report, the IRGC also claimed that 25 vessels, including oil tankers, transited Hormuz during the “last day and night.”As talks continue to arrive at a memorandum of understanding, disputes over language concerning Iran’s nuclear program and sanctions have held up a deal between Washington and Tehran, CNN noted. — ANI

U.S. Senator Mark Warner heavily criticised President Donald Trump for starting a new ‘forever’ war and claimed that American military actions continue to take place against Iran. In a post on X, the Senator who also serves as the Vice-Chairman of the Senate Intel Committee slammed Mr. Trump for breaking promises and raising costs. 

​He said​, “Donald Trump keeps claiming the war is about to end... but the truth is, America is still striking Iran. He’s breaking every promise, starting new forever wars, and raising costs on everything.” 

His remarks come as peace hangs by the precipice in West Asia and the Gulf region and talks move at a glacial pace. — ANI

An Iranian Revolutionary Guards official said on Wednesday (May 27, 2026) that renewed war with the United States was unlikely but warned that Iran stood ready against any attack.

“The possibility of war is low because of the enemy’s weakness, the armed forces are lying in wait with full magazines,” said Mohammad Akbarzadeh, deputy political chief of the Islamic Revolutionary Guard Corps Navy, was quoted by Tasnim news agency as saying.

“Do not doubt that we will turn the area from Chabahar to Mahshahr into a graveyard for aggressors,” he said, naming places at each end of Iran’s lengthy southern coast. — AFP

Oil prices eased from recent highs today, erasing some of the ‌previous day’s 4% gain as traders sought clarity on negotiations ⁠between Iran and the U.S. after renewed hostilities set back efforts to reopen the Strait ‌of Hormuz.

Brent crude futures fell $1.52, or 1.53%, to $98.06 a barrel ‌as of 0633 GMT, while ‌U.S. ⁠West Texas Intermediate (WTI) crude ⁠lost $1.90, or 2.02%, to $91.99 a barrel.

Oil surged on Tuesday after the U.S. military carried out new strikes in ‌Iran, hurting hopes over the weekend that the United States and Iran would reach an agreement to ‌end the war.

Iran said on Tuesday the United States had violated a ceasefire by striking ⁠targets near the contested Strait of Hormuz, while the U.S. said its strikes ‌were defensive in nature.

-Reuters

China has said it supports the “active mediation” by Pakistan and other countries between the U.S. and Iran in the ongoing West Asia conflict.

“Regarding the current situation, the key is the negotiation between the United States and Iran because they are the major parties concerned,” Chinese Foreign Minister Wang Yi told reporters on Tuesday (May 27, 2026).

“We support the active mediation by Pakistan and other countries. Before we came here, I met with (Field) Marshal (Asim) Munir of Pakistan. We also support efforts made by the United States and Iran, respectively,” Mr. Wang said.

PTI

President Donald Trump will meet with his Cabinet today at a precarious moment for talks aimed at ending the war with Iran, just days after insisting that his administration and Tehran had “largely negotiated” a settlement, but with the negotiations still in a state of flux.

As he prepares to huddle with his top aides, Mr. Trump is projecting confidence that he’s closing in on a deal that will reopen the Strait of Hormuz and provide him a credible argument that Iran’s nuclear capability has been diminished enough to declare victory, winding down a conflict that’s been politically unpopular for Republicans.

But as things stand, Mr. Trump also risks finding closure to his war of choice comes with an unsatisfactory ending.

-AP

Tehran on Tuesday accused Washington of breaching the ceasefire and warned it was ready to retaliate after overnight U.S. strikes, while Israeli bombardment in Lebanon left dozens dead, threatening an increasingly fragile truce there.

The Brent benchmark oil price jumped up by more than three percent after U.S. Central Command (CENTCOM) announced the new wave of bombings targeting Iranian missile sites and mine-laying boats, while China urged both sides to respect the truce and to resolve their dispute peacefully.

Iranian state media reported overnight blasts in the southern port city of Bandar Abbas, near the Strait of Hormuz, and the country’s Revolutionary Guards said its forces had downed a US drone entering its airspace and had fired at an F-35 fighter jet.

-AFP

The ⁠Israeli ⁠military said today a ‌projectile launched from Lebanon fell ‌in an open area in ⁠Israel after sirens ‌sounded in several northern areas, but ‌no injuries were reported.

-Reuters