In a new turn of events, the President of the United States, Donald Trump, announced on Tuesday that he is suspending, at the request of Pakistan, the military operation 'Project Freedom', which aims to militarily secure the transit of ships through the Strait of Hormuz, to determine if a definitive agreement with Tehran is possible.
Trump posted on Truth Social that the suspension of the military operation, which began on May 3, is due to "considerable progress towards an agreement" with Tehran, without providing further details. The Republican indicated that the U.S. naval blockade of Iran will remain in effect and that the suspension of this specific operation aims to determine if the agreement "can be finalized and signed."
The U.S. Central Command forces had only managed to secure the passage of a few ships through the strait. Additionally, there have been repeated attacks in the region involving small boats and drones, some of which the United Arab Emirates attributed to Iran.
China calls on the US and Iran to reopen the Strait of Hormuz "as soon as possible"
Chinese Foreign Minister Wang Yi demanded a "complete" cessation of hostilities in the Middle East on Wednesday and urged the United States and Iran to reopen the Strait of Hormuz "as soon as possible" during a meeting in Beijing with his Iranian counterpart, Abas Araqchi, as reported by Afp. "China believes that a complete cessation of hostilities must be achieved without delay, that it is even more unacceptable to restart hostilities, and that it is essential to continue negotiating," said Wang Yi, quoted in a statement released by his office.
Iran demands guarantees from FIFA to attend the World Cup in the US
The president of the Football Federation of Iran (FFI), Mehdi Taj, stated that FIFA must provide guarantees for the participation of the Iranian national team in the World Cup in the United States that there will be no "insults" against Iranian official and military institutions, as reported by Efe. "We must receive the necessary guarantees from FIFA to participate in this competition, so that incidents similar to past experiences are not repeated," Taj told journalists late on Tuesday, as reported by the IRNA agency. The Iranian football leader pointed out that his country's presence in the World Cup depends on an upcoming meeting with FIFA President Gianni Infantino and demanded that the host country guarantee "absolute respect" for the Iranian delegation.
A container ship confirms it was attacked on Tuesday in the Strait of Hormuz
The container ship "San Antonio," flying the Maltese flag and owned by the French company CMA CGM, was "subject to an attack" on Tuesday in the Strait of Hormuz, as confirmed by the company on Wednesday morning. The attack caused "injuries among the crew members," who were "evacuated and treated," and resulted in "damage" to the vessel, added CMA CGM in a brief statement to AFP. The UK Maritime Security Agency had reported that a cargo ship was hit on Tuesday around 18:30 GMT by a "projectile of unknown origin" in the Strait of Hormuz, without identifying the vessel.
Iran denies attacking the United Arab Emirates in the last two days
The Iranian government denied attacking the United Arab Emirates (UAE) in the last two days as alleged by Abu Dhabi, but at the same time warned of "dangerous consequences" if the Arab country took action against Iran, as reported by Efe. The Ministry of Foreign Affairs "rejects Abu Dhabi's unfounded accusations of missile and drone launches from Iran towards the United Arab Emirates," the ministry said in a statement released late last night. At the same time, Iranian diplomacy accused the UAE of "evident cooperation with the aggressive US side and have posed a threat to Iran's national security and interests" in the last two days when the United States launched Operation Freedom Project to free ships trapped in the area.
South Korea suspends review of Trump's request to participate in Project Freedom
The South Korean presidential office announced on Wednesday that it has suspended the review of whether to participate in a US operation to escort ships through the Strait of Hormuz, after President Donald Trump put the plan on hold, known as 'Project Freedom.' "We do not believe it is necessary to review Trump's request to participate in Project Freedom at this time," said Wi Sung-lac, national security advisor to the South Korean president, at a press conference.
Iran establishes an organization to manage transit through the Strait of Hormuz
Iran has created a new organization to manage transit through the Strait of Hormuz, the strategic route through which 20% of the world's oil passed before being blocked by the Islamic Republic in response to the war initiated by the United States and Israel, as reported by Efe. The authority of the Persian Gulf Strait (PGSA, by its English acronym) will coordinate the transit of ships wishing to cross Hormuz, reported the state television Press TV. "Ships must adjust their operations to this framework and obtain a transit permit before crossing the Strait of Hormuz," the state channel said.
The price of oil falls to $108
The price of Brent crude oil, a reference in Europe, dropped by nearly 1.3% around 7:50 am on Wednesday and was trading around $108 per barrel before the opening of European stock exchanges, compared to $72 in which it was trading before the attack on Iran by the United States and Israel at the end of February. Meanwhile, the West Texas Intermediate (WTI) crude oil barrel, a reference in the US, fell by 1.4%, to $100.7 per barrel. At the close of European stock exchanges yesterday, Brent was trading around $110 after starting the day slightly below $114. The moderation in oil prices comes after US Secretary of State Marco Rubio stated that the 'Epic Fury' operation, launched on February 28 with Israel against Iran, has "concluded." Just hours earlier, White House Chief Donald Trump had stated that the war with Tehran could last for another two weeks or "perhaps three."
Australia announces a plan of over 6 billion euros to strengthen oil reserves
The Australian government announced on Wednesday a package of over 10 billion Australian dollars (about 6 billion euros) to strengthen the country's strategic fuel and fertilizer reserves amid the international energy crisis resulting from the conflict in the Middle East, as reported by Efe. The plan, aimed at improving the country's energy resilience, will be included in next week's federal budget and includes the creation of a national fuel reserve controlled by the state, as well as an increase in the minimum storage requirements for refiners and importers. "The goal is to ensure Australia's energy sovereignty and protect our national interests," said Australian Prime Minister Anthony Albanese in a statement released by his office.