Main points
Talks set to take place on Friday between the United States and Iran on implementing the 14-point agreement to end their war have been cancelled
US vice-president JD Vance , who is leading negotiations for the Trump administration, had been due to travel to Switzerland to meet Iranian representatives
At least 16 people have been killed in Israeli air strikes in southern Lebanon, with Hizbullah saying there is intense fighting in the area
Key reads
US officials reveal details of Iran agreement to halt war
‘A city of ghosts’: Grief and defiance in Lebanon’s shattered south
Órla Ryan -
7 minutes ago
France wants to play role in talks about Iran’s nuclear programme
We have more details on those earlier comments from Jean-Noël Barrot, France’s foreign minister.
He said France wants to play a role in talks dealing with Iran’s nuclear programme and will not approve the lifting of UN sanctions unless it is satisfied by the terms of a final accord.
Barrot, whose country is a veto-wielding member of the United Nations Security Council, told broadcaster franceinfo there would be no stability in the region unless US talks with Iran also dealt with Iran’s ballistic missile programme and support for proxies.
“The return for major concessions that will be asked of Iran is the lifting of sanctions, sanctions that were taken at the United Nations,” he said.
“France is a permanent member of the United Nations (Security Council) so, as was the case 10 years ago, France will have to give its approval for the sanctions to be lifted.”
The agreement reached between the United States and Iran this week calls for negotiations over Iran’s nuclear programme to take place over the next 60 days, with a final deal to be endorsed by the Security Council. - Reuters
Órla Ryan -
12 minutes ago
Eurozone bond yields rise as Iran talks cancelled
Eurozone government bond yields rose on Friday as oil prices ticked higher after US-Iran peace talks in Switzerland were abruptly called off and as European Central Bank policymakers talked tough on inflation.
Germany’s 10-year bond yield, the benchmark for the bloc, rose three basis points to 2.955 per cent, having fallen to a more than two-month low of 2.915 per cent on Wednesday. Yields move inversely to prices.
Oil prices were up just under 1 per cent after Switzerland said US talks with Iranian negotiators on a pact to end the Middle East conflict would not take place on Friday.
Brent and US crude prices have fallen sharply since the US and Iran reached a tentative agreement to end their war at the weekend but doubts remain about the longevity of the deal, which faces opposition from some US Republicans and many in Israel. - Reuters
Órla Ryan -
47 minutes ago
Normal shipping will not resume in Strait of Hormuz until 80 mines cleared
A man stands beside a fishing pole along the shore as cargo ships and commercial vessels are seen in the Strait of Hormuz off Bandar Abbas, Iran, on Thursday. Photograph: Amirhosein Khorgooi/ISNA/AP
The centre of the Strait of Hormuz is blocked with about 80 mines that will need clearing for normal shipping to resume, the independent tanker owner trade body has said.
Several vessels began to exit the Gulf through the key maritime chokepoint on Thursday, after the signing of a memorandum of understanding between the US and Iran.
However, shipping is not expected to return to normal for some time, even if the ceasefire lasts, because of the mines and other obstacles, underlining the continuing challenges facing global trade.
“The main route … through the middle of the Strait of Hormuz, that’s closed, that’s dangerous,” said Phil Belcher, marine director at Intertanko, the association of independent tanker owners.
“The latest figure we had was that there’s 80 mines in the Strait of Hormuz. It’s an enormous amount and it’s going to take some time to clear.” - The Guardian
Órla Ryan -
53 minutes ago
No UN sanctions lifting on Iran without France’s approval, foreign minister says
France will not approve the lifting of United Nations Security Council (UNSC) sanctions on Iran unless it is satisfied that talks on Tehran’s nuclear programme meet its expectations, its foreign minister said on Friday.
Jean-Noël Barrot, whose country is a veto-wielding member of the UNSC, said there would be no stability in the region unless US talks with Iran resolved questions around Iran’s ballistic missile programme and support for proxies.
“We need a radical change of posture by Iran,” he said. - Reuters
Órla Ryan -
55 minutes ago
The IDF said four of its soldiers were killed in southern Lebanon as fighting intensified between the Israeli military and Hizbullah.
Órla Ryan -
1 hour ago
Price of oil drops to €70 per barrel
The price of oil is headed for a substantial weekly drop as the Strait of Hormuz starts to return to normal. However, the stalled signing of the US-Iran deal may negatively impact prices.
Global benchmark Brent ste…
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