Al Jazeera

By Lyndal Rowlands

    US President Donald Trump says Washington’s blockade of Iranian ports has been a success and urges Tehran to “just give up”.

    Iran’s Parliament Speaker Mohammad Bagher Ghalibaf dismisses US’s economic pressure campaign as the Iranian military warns its restraint so far has been “intended to give diplomacy a chance”.

    The standoff in the Strait of Hormuz has pushed global oil prices above $120 per barrel, with average petrol prices in the US hitting a four-year high.

    Activists on board an aid flotilla heading for the Gaza Strip say the Israeli military has started intercepting vessels.

    Visit our live tracker for the latest casualty figures from across the region.

How are rising oil prices being viewed in Asia

By Barnaby Lo

Reporting from Seoul, South Korea

    The Asia Pacific region is almost entirely dependent on oil imports, much of that coming from the Middle East. With Brent crude touching $120 a barrel, there’s no doubt this will have a huge impact on the region.

    The Asian Development Bank has already cut its growth forecast for the region from 5.1 percent to 4.7 percent this year, and raised projections for inflation, from 3.6 percent to 5.2 percent.

    Right now, millions, if not billions, across the region are already suffering from elevated fuel prices as well as higher prices of basic goods and commodities. Factory workers are losing their jobs, and transport workers are losing income.

    One of the most affected sectors is the aviation industry, where there are mounting concerns over jet fuel shortages. Airlines have raised fuel surcharges and have cut a number of flight routes. And this is amid a busy travel season here in East Asia.

    That’s why Australian Foreign Minister Penny Wong is on an East Asia tour. She was in Tokyo earlier in the week and then spent a couple of days in Beijing, where she said that the Chinese government had committed to loosening restrictions on diesel and jet fuel exports. She is packaging this as cooperation between regional partners to secure energy supplies, noting that Australia, too, exports coal, liquefied natural gas and other critical minerals to China as well as to Japan and South Korea.

    Right now, she is in Seoul and will be meeting with South Korean Foreign Minister Cho Hyun on the same issues, especially as South Korea is the world’s biggest exporter of jet fuel.

US claims seizing nearly $500m in Iranian crypto assets

    US Treasury Secretary Scott Bessent says Washington has seized “close to half a billion” in Iranian cryptocurrency assets and that its “Operation Economic Fury” has sent the government in Tehran into “crisis”.

    “We were able to grab about 350 million crypto assets, and then on top of another 100 that we had recently gotten, so we’re almost at half a billion there, and we are freezing bank accounts everywhere,” Bessent told Fox News.

    He said Trump had ordered the economic pressure campaign in March of last year and told him to “up the pressure again” about three weeks ago.

    The US is now pressing foreign governments and companies to cut ties with Iran.

    “We have gone to the buyers of Iranian oil and told them that … we are willing to do secondary sanctions on your industries, on your banks who tolerate Iranian oil in their system,” he said.

    Bessent added that the economic campaign and the US naval blockade on Iranian ports will inflict permanent damage on Iran’s economy.

    As we’ve been reporting, Iran has ridiculed the US’s campaign, saying it will only push oil prices up. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has also taken aim at Bessent, describing his advice to Trump as “junk” in a post on X.

Can the US blockade force Iran to halt oil production

    As we’ve been reporting, Iran’s Parliament Speaker Ghalibaf has dismissed the US’s ongoing blockade, saying no Iranian oil wells have exploded so far and signalling that the country is prepared to weather the economic pressure for at least another 30 days.

    The US, however, maintains that its blockade is working, arguing that Iran – if unable to export oil – will be forced to store oil until capacity runs out and production halts.

    The stakes are high. Experts say shutting down output risks damaging underground reservoirs, changing oil flow patterns and making some oil harder or more expensive to recover later.

    Satellite data shows Iran’s storage levels have risen sharply since the US blockade began on April 13. As of April 20, the tanks at Kharg Island – through which Iran exports 90 percent of its oil – were about 74 percent full, having taken on about 3 million additional barrels, according to the Center on Global Energy Policy.

    Oil companies typically avoid filling storage beyond 80 percent capacity for safety and operational reasons.

    Yet, Iran has navigated near-capacity storage before. During the COVID-19 pandemic in April 2020, Kharg Island’s stocks reached close to 90 percent, an all-time high.

    Muyu Xu, a senior crude oil analyst at Kpler, told Al Jazeera the blockade could eventually force Iran to cut production, but that any reduction is likely to be gradual.

    “Given there is still available storage capacity onshore, roughly covering 20 days of Iran’s current production, we expect any production reduction to be gradual over the coming week, with a higher likelihood of acceleration into May,” she said.

    Read more here.

    But traffic remains well below pre-war levels.

Democrats criticise growing price tag of war on Iran

    As we’ve been reporting, a senior Pentagon official said the war on Iran has cost the US military $25bn so far.

    The announcement has drawn sharp criticism from the Democrats.

    Congressman Mark DeSaulnier argued that the billions spent “could have helped lower healthcare costs for millions of Americans”.

    “Instead, we’ve lost 14 American servicemembers, driven gas prices way up, and made Americans less safe,” DeSaulnier said in a post on X.

    Ro Khanna, another Democratic congressman, accused the defence secretary, Pete Hegseth, of being ignorant of the war’s true cost to US taxpayers.

    “I asked Hegseth how much the Iran war is costing Americans in replacement costs, gas, and food prices  He had no clue of the economic harm,” Khanna wrote in a post on X.

    “Unbelievable,” he added.

OPEC in ‘crisis mode’ as officials gather in Vienna

By Step Vaessen

Reporting from Vienna, Austria

    OPEC is facing one of the worst crises of its existence in the last 65 years.

    There are a lot of urgent issues for the bloc to address, from the energy crisis that we’re facing right now to the shocking announcement from the UAE that it intends to leave the organisation after so many years.

    But at [the meeting at its headquarters in Vienna on Wednesday], something completely different has been on the agenda. We heard officials present the flagship report that OPEC releases every year. This was the 61st edition. Basically, this is a report with all the data that they compile about import and export of oil, oil reserves, and oil demand. And what we’ve heard is that oil demand was up worldwide in 2025, compared to 2024. That oil reserves are also up, that there was a lot more exports than the previous year, with most of the oil going to Asia, Latin America and the Middle East.

    But this was, of course, all before the UAE decided to leave the organisation, which will definitely have a very different impact and outlook on next year’s report.

    We went into the OPEC building earlier today and asked for a comment. I spoke to the head of the secretary-general’s office asking about the response of the UAE departure, and he told me very clearly they had nothing to say about this at the moment.

    So there must be definitely a crisis mode inside of this building.

Trump says US may reduce troops in Germany

    The US president says his administration is “studying and reviewing the possible reduction of troops in Germany” as tensions grow with German Chancellor Friedrich Merz over the war on Iran.

    “A determination” will “be made over the next short period of time”, Trump said in a post on his Truth Social platform.

    The announcement comes after Trump hit out at Merz after the German leader said the US was being “humiliated by the Iranian leadership”.

    Trump has also repeatedly criticised Germany and other NATO allies for not doing more to support the US-Israel war on Iran, including for failing to deploy their navies to help reopen the Strait of Hormuz.

    Germany is one of the largest overseas stations for US soldiers, with some 33,900 troops stationed there.

What’s happening in the Strait of Hormuz

    The disruption in the Strait of Hormuz is being felt worldwide, raising concerns over global economic stability.

    Here’s a look at the current situation:

    Nearly 2,000 ships and 20,000 sailors are stranded in the Gulf, waiting to pass through the strait.

    Back in March, marine insurance companies cancelled “war risk” coverage policies for tankers, deeming the route too dangerous.

    The US has since said it could take at least six months to clear naval mines in the waterway. While some vessels may be able to pass, the absence of insurance cover is effectively halting traffic.

    Even after the mines are cleared, insurance costs are expected to remain high. Premiums are likely to stay elevated until a lasting agreement is reached.

EU’s von der Leyen says consequences of Iran war may echo for years

    European Commission President Ursula von der Leyen has called for unrestricted navigation in the Strait of Hormuz, saying there should be no tolls imposed on international shipping.

    “We all want the ceasefire in Iran and Lebanon to hold, with the ultimate goal to re-establish peace and stability through diplomatic means… And this includes restoring full and permanent freedom of navigation in the Strait of Hormuz without tolls,” she told the European Parliament.

    “And it is equally clear that any peace agreement will have to address Iran’s nuclear and ballistic missile programme. But there is also a harsh reality we all need to face. The consequences of this conflict may echo for months or even years to come,” she added.

Israel’s UN envoy confirms intercepting Gaza-bound aid flotilla

    Danny Danon has said in a post on X that “another provocative flotilla was stopped before reaching our area”.

    The envoy said that Israeli soldiers participating in the operation, which occurred in international waters near the Greek island of Crete, acted with “professionalism and determination, dealing with a group of delusional attention-seeking agitators”.

    As the war on Iran drives up fuel prices and deepens economic anxiety, new polls show a growing frustration with Donald Trump, including among Republican voters.

‘It is dangerous to remain on your current course’: Flotilla group releases recording of Israeli threats

    The Global Sumud Flotilla has released an audio recording of what it says is an Israeli military warning directed at its Gaza-bound aid vessels.

    “Any further attempt to sail toward Gaza places your safety at risk and leaves the [Israeli military] no choice but to take all necessary measures at its disposal to enforce the lawful maritime security blockade,” a male voice is heard saying in the recording.

    “Attempts to breach the lawful maritime security blockade of the Gaza Strip constitute a violation of international law. If you carry humanitarian aid, you’re invited to proceed to the port of Ashdod, where the aid will undergo a security inspection and will subsequently be transferred to the Gaza Strip,” the man added.

    Israel has maintained a blockade on the Gaza Strip since 2007, contributing to an unprecedented humanitarian and health crisis in the Palestinian territory.

    No boats carrying aid have been able to reach Gaza since 2008, when two boats were able to break through the Israeli naval blockade. Since then, dozens of boats have been intercepted or attacked by the Israeli military, including in 2010, when Israeli commandoes killed 10 activists from Turkiye.

Trump ‘content to wait out’ Iran as US ramps up economic pressure campaign

By Mike Hanna

Reporting from Washington, DC, US

    [Negotiations to end the war] appear to be in a state of limbo.

    The US president appears to be content with waiting this one out, hoping that economic pressure being exerted on Iran will lead to what he wants, which is the Iranians coming to talk, but on the terms of the US.

    President Trump has insisted that this economic blockade will work, and he claims the blockade of the Strait of Hormuz, for example, is denying Iran vast amounts of money every day.

    In addition, the US has been putting sanctions on entities and individuals within Iran, such as the banking system.

    So, the economic pressure that President Trump is bringing to bear is [what] he believes [is] the major factor in terms of getting the Iranians back to the negotiating table.

    But he doesn’t appear to have a plan B.

    Plan B would be to go back into conflict, but the president is adamant [that] the ceasefire will continue at present, and he says as well that it will continue as long as he wants it to continue.

Israel’s ‘aim was to surprise the flotilla by striking so far from Gaza’

    Al Jazeera’s Jack Barton, reporting from Amman, Jordan, says there has been no official comment from Israeli authorities on the naval raid on the Global Sumud Flotilla, but anonymous sources have been sharing details with Israeli media.

    “One source within the military [is] saying the aim was to surprise the flotilla by striking so far from Gaza,” Barton said.

    The flotilla is estimated to be about 600 nautical miles from Gaza (1,111km), Barton said, noting that the furthest intercept by Israel of an aid flotilla in the past was 72 nautical miles (133km).

    “So this is much, much further than any sort of raid that Israel has carried out on the flotilla in the past,” Barton said.

Activist says Israeli forces surrounding ships off of Greece’s Crete

    Tariq Ra’ouf, an activist and writer on board the Gaza-bound flotilla, has said that it is “truly unprecedented” for Israel to begin intercepting the aid ships while they still are in international waters off the Greek island of Crete.

    “We are nowhere near Gaza yet. And so this is absolutely, really absurd, the fact that they are going after us at this point, when we are just trying to carry aid to Gaza,” Ra’ouf told Al Jazeera.

    Ra’ouf said that Israeli military ships have been surrounding the flotilla for at least two hours with drones flying overhead “flashing us with lights”.

    At the same time, he said, they have been “receiving messages from the Israeli military through our radio saying that we are breaking international law and that we need to stop”.

    Experts have told Al Jazeera that attacking and seizing humanitarian vessels in international waters is illegal under international law.

    Families forced from their homes are struggling to access shelter, food, water, healthcare and education.

    Tommaso Della Longa, the spokesperson for the International Federation of Red Cross and Red Crescent, told Al Jazeera that Lebanon’s humanitarian crisis has reached catastrophic levels.

A recap of recent developments

    US President Donald Trump says Washington’s blockade of Iranian ports has been a success and urges Tehran to “just give up”.

    Iran’s Parliament Speaker Mohammad Bagher Ghalibaf ridicules the US’s economic pressure campaign, saying it will only take oil prices higher, while the Iranian military warns of “unprecedented action” if the blockade continues.

    The standoff in the Strait of Hormuz pushes global oil prices above $120 per barrel, with average petrol prices in the US hitting a four-year high.

    Activists on board an aid flotilla heading for the Gaza Strip say the Israeli military has started intercepting vessels.

    The Pentagon says the US has spent about $25bn on the war on Iran so far and is also seeking approval for a $1.5 trillion defence budget.

    Israeli forces continue to pound Lebanon, killing three in a recent attack on Tayr Debba, as a United Nations-backed report warns some 1.2 million people in the country could face acute hunger because of the conflict.

Welcome to our coverage

    Hello, and welcome to our live coverage of the ceasefire in the war between the United States, Israel and Iran.

    Stay with us for the latest developments, reactions and analyses from across the Middle East and beyond.