US Iran War News Live Updates: Pakistan plans oil reserves, storage push as Hormuz constraints expose vulnerabilities
An Iranian woman walks next to an anti-Israeli mural on a street in Tehran, Iran, May 26, 2026.(REUTERS)
US Iran War LIVE: Around $24 billion of Iranian funds frozen overseas must be released under a memorandum of understanding being negotiated with the United States, a source close to Tehran’s negotiation team said, according to a report by Iran’s Tasnim news agency on Tuesday. The agency said Iran’s top negotiator, Mohammad Baqr Qalibaf, had travelled to Qatar to reach an agreement on a mechanism to implement this demand.
The demand comes even as the US military said it launched “self-defence” strikes in southern Iran targeting missile launch sites and boats laying mines, even as President Donald Trump posted on social media that negotiations were “proceeding nicely.” Capt. Tim Hawkins, US Central Command spokesman, said the strikes were conducted “to protect our troops from threats posed by Iranian forces,” adding that the military was “using restraint during the ongoing ceasefire”.
Iran’s Supreme Leader Mojtaba Khamenei invited all the Islamic countries to forge friendship and cooperation and said the “shaky Zionist regime” in Israel is moving closer to the end of its “ominous existence”. After the US launched fresh attacks in southern Iran earlier today, Khamenei, in a statement, said regional powers will no longer act as a shield for the American bases and the country can no longer have a haven in the region, news agency Reuters reported.
Big things to know:
US strikes in Iran: US forces hit missile launch sites and mine-laying vessels in southern Iran, calling them “self-defence” strikes. Iranian media earlier reported explosions in Bandar Abbas.
Negotiations in Qatar: Top Iranian negotiators travelled to Qatar to discuss sticking points in a potential deal to end the US-Israel war on Iran. Iran’s Foreign Ministry said progress has been made, but a deal is not “imminent.”
Trump on regional role: US President Donald Trump said an agreement with Iran should include Saudi Arabia, Pakistan, and Turkiye joining the Abraham Accords to normalise ties with Israel. What are the Abraham Accords? The Abraham Accords are US-brokered agreements under Trump that normalised diplomatic relations between Israel and several Arab countries. Potential new members have become a major geopolitical issue during the Iran conflict.
Israel targets Hezbollah: Israeli PM Benjamin Netanyahu ordered “strong blows” against Hezbollah in Lebanon, stating Israel is “at war” with the group.
Lebanon casualties rise: Lebanon’s Health Ministry said Israeli attacks have killed at least 3,185 people and wounded 9,633 since March 2, with intensified strikes hitting the Bekaa Valley and southern Lebanon.
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