Live: U.S.-Iran strikes on hold as West Asia walks tightrope between war and talks

Figures published by the Department of Energy show that crude oil holdings inside the U.S. Strategic Petroleum Reserve have dropped by 5.5 million barrels, bringing the total down to 325.7 million barrels — the lowest the reserve has been since May 1983. The withdrawals form part of a U.S. commitment to release a total of 172 million barrels from the facility, intended to compensate for the shortfall in global oil supplies created by the Iran war and to put downward pressure on fuel prices. Robust overseas demand and strong refinery consumption of American crude have together accelerated the drawdown of domestic stockpiles over recent weeks. Since hostilities broke out at the end of February, total U.S. oil inventories — counting both commercial stocks and the SPR — have fallen by 111.4 million barrels, leaving combined holdings at 743.3 million barrels as of June 19, a figure the country has not seen since 1984.

Iran's President Masoud Pezeshkian took to X to declare that Tehran is prepared to stand by its obligations — on the condition that the American side also adheres to whatever is agreed upon. In the same post, he outlined Iran's approach to irrational sabre-rattling and baseless threats: the country anchors its decision-making in reason and human dignity. But when circumstances call for direct action, he wrote, Iran will defend itself with unwavering determination and without fear.

Lebanon's state-run media reported on Monday (June 29, 2026) that Israeli forces struck the country's southern territory, even though both nations had signed a framework agreement just the previous week with the aim of setting peace negotiations in motion. The Lebanese National News Agency, a government-run outlet, said Israeli warplanes carried out an attack on the area falling between the southern Lebanese towns of Qantara and Deir Seryan.

U.S. President Donald Trump, while addressing journalists at the White House's Oval Office on Monday, June 29, 2026, offered a noncommittal take on the forthcoming U.S.-Iran sit-down scheduled in Qatar this week, describing it as one that would be 'perhaps important, perhaps not.' (Source: Reuters)

The United Arab Emirates has declared that its citizens can now travel to Lebanon starting Monday, June 29, 2026, removing a weeks-old restriction established due to the Middle East war and apprehensions about Iranian influence. The country's foreign ministry announced that "it will allow UAE citizens to travel to the sisterly Lebanese Republic, starting from Monday, June 29, 2026," as reported by the state-run WAM news agency. Officials have requested citizens to complete their registration on the ministry's consular services portal prior to planning their trip to Lebanon. Back in April, the UAE administration had prohibited its passport holders from traveling to Lebanon, Iraq, and Iran, citing the volatile security situation and the ongoing regional war. AFP

Iran's Foreign Ministry Spokesperson Esmaeil Baghaei stated in a Monday (June 20, 2026) communiqué that no dialogue between Tehran and Washington has been scheduled for the days ahead. He also clarified that while an Iranian technical team is due to travel to Qatar this week, that visit is entirely unrelated to any U.S. officials who may be present in the country. Baghaei further noted that Tehran has not yet entered formal negotiations toward a final agreement, since doing so first requires the fulfilment of specific provisions laid out in the MoU — a process that remains Iran's foremost priority at this stage.

On Monday, Qatar instructed all sailing and fishing vessels to cease operations temporarily until further notice, while specifying that commercial shipping and ships governed by international maritime conventions are not subject to the restriction. The transport ministry announced that the precautionary order extends to jet skis and every other category of maritime craft. A ministry spokesperson confirmed that commercial vessels remain exempt from the ban. No official rationale was offered for the decision. It follows a disclosure made the previous day in which Qatar revealed that one of its nationals had died from shrapnel wounds linked to 'military operations in the region' — injuries he sustained after his boat went missing.

Iran's Deputy Foreign Minister Kazem Gharibabadi asserted on Monday (June 29) via a post on X that the Islamabad MoU concluded between Tehran and Washington designates Iran as the sole party responsible for mine clearance in the Strait of Hormuz. The statement was a direct rebuttal to remarks made by French President Emmanuel Macron on the topic earlier that day. Macron had announced that France and Oman were jointly pursuing de-escalation efforts in West Asia and intended to collaborate with partner nations on removing mines from the Strait of Hormuz. Gharibabadi pushed back forcefully, warning that circumstances in the region are already delicate and complicated, and strongly urged France to refrain from worsening the situation through what he described as its provocative conduct.

The Lebanese Armed Forces announced on Monday (June 29) that its commander met with a senior American military official to discuss the implementation of a recently signed trilateral agreement designed to bring hostilities between Israel and Hezbollah to a halt. General Rodolphe Haykal held talks with Admiral Brad Cooper, who commands U.S. military forces across West Asia. An official army statement said the meeting covered the latest developments both inside Lebanon and across the broader region. The two sides also focused on the importance of successfully putting the security annex of the framework agreement into effect, and reviewed potential avenues for deepening bilateral military cooperation going forward, the statement noted.

The Iraqi government has formally put Iran-aligned armed factions operating on its soil on notice that they must lay down their weapons by September 30 — the same date on which the U.S.-led international anti-jihadist coalition's mission in the country is also due to wind up, a government spokesperson confirmed on Monday (June 29). The announcement came just ahead of a planned trip to the United States by newly appointed Prime Minister Ali al-Zaidi, with Washington maintaining steady pressure on Baghdad to bring these factions to heel and compel their disarmament. Government spokesman Haidar al-Aboudi told his weekly press briefing: "All the armed groups have been informed of a specific date that marks the end of this issue (of disarmament)... which is September 30, which also marks the end of the international coalition's presence."

Lebanese President Joseph Aoun made clear during a meeting with the head of U.S. Central Command on Monday (June 29) that his government is fully resolved to extend the national army's deployment all the way to the border with Israel — a zone where the Iran-backed militant organisation Hezbollah has long maintained a powerful grip. According to a statement released by the Lebanese presidency, Aoun conveyed to Admiral Brad Cooper "the Lebanese State's determination to extend its authority, through its armed forces, to the southern border." The two leaders also reviewed in depth the preparations under way to implement the framework agreement involving Lebanon, Israel and the United States.

U.S. President Donald Trump posted on social media on Monday, June 28, asserting that Iran had approached American officials with a request for a meeting. Iranian authorities, however, categorically disputed this, stating that no such encounter had been scheduled and that nothing of the sort was in the works. Mr. Trump has been working hard to keep a fragile interim arrangement between the two countries from unravelling, even as the Strait of Hormuz has seen a sharp uptick in hostilities over the past several days. The spiralling tensions risk sending oil prices climbing worldwide — an outcome that could erode Mr. Trump's argument to American voters that his presidency has been bringing down the cost of living at home.

Iran's Foreign Ministry has rejected reports claiming that Iranian and American technical teams are scheduled to meet in the coming days to discuss how to put the deal ending the West Asia war into effect. Both nations have traded blows in the Gulf over the past several days, putting their delicate ceasefire under significant stress. Deputy Foreign Minister Kazem Gharibabadi, quoted by state television, said: "No technical meetings of the working groups are planned for this week," in a reference to the Iranian week, which ends on Friday. Citing U.S. officials, American news website Axios reported on Sunday that delegations from Tehran and Washington would assemble in Qatar on Tuesday, June 30, 2026, to work through their disagreement over the strategically vital Strait of Hormuz. CNN published broadly similar remarks attributed to a Trump administration official, though the White House has yet to release any formal comment on the matter. — AFP

Lebanon's Parliament Speaker Nabih Berri, who is closely aligned with Hezbollah, on Sunday sharply denounced a U.S.-mediated agreement between Lebanon and Israel, cautioning that the pact could give momentum to efforts aimed at dividing Lebanon and making clear that it would never be put into effect. Speaking to Lebanon's al-Akhbar newspaper, Berri argued that the ongoing diplomatic channel between Iran and the United States represents the only credible avenue through which Israel can be pressed to withdraw its forces from Lebanese soil. He went on to warn that any attempt to sever Lebanon's file from the broader U.S.-Iran negotiating track would only serve to prolong the Israeli military occupation of the country.

Iranian President Masoud Pezeshkian has stated that $6 billion worth of frozen Iranian assets currently held in Qatar are to be freed, even as weekend strikes across the Persian Gulf placed renewed strain on the diplomatic process with the United States. Pezeshkian is the most senior official in Iran to publicly acknowledge the prospective repatriation of these funds, with Qatar playing a central mediating role throughout the negotiation process. U.S. officials, however, have maintained that no frozen Iranian assets have been returned to date. State news agency IRNA quoted Pezeshkian as saying: "Based on the plans made, $6 billion out of the total $12 billion of Iranian resources in Qatar will be released and returned to the country, and necessary follow-ups are being carried out." The remarks were widely interpreted as an effort by the president to build domestic backing in Iran for the interim agreement.

Iranian Deputy Foreign Minister Gharibabadi announced that the inaugural session of the Iran-Oman Joint Committee on the Strait of Hormuz has now been completed. In a post on X, he wrote: "Visiting Muscat, I held the first Hormuz Joint Committee meeting alongside Abdulaziz Al-Hinai, Oman's Minister of State for Foreign Affairs. We went over the current matters pertaining to the Strait and exchanged positions on its future administration — within the framework laid out in the fifth paragraph of the Islamabad Memorandum of Understanding and consistent with the sovereign rights of the coastal nations."

The volume of Iranian cyberattacks directed at Israel has climbed steeply since the U.S.-Israeli military campaign against Iran got underway this year, a senior Israeli security official said on Monday (June 29, 2026). Yossi Karadi, Director General of Israel's National Cyber Directorate, told German newspaper Die Welt that in June 2025, when Israeli forces were conducting operations against Iran, the country's security bodies registered approximately 1,600 hostile cyber incidents. By June 2026, that figure had surged to around 4,800 incidents — roughly three times the earlier count — he confirmed to the publication. — Reuters

Iran's chief diplomat issued a warning on Sunday (June 29, 2026) that any effort by merchant vessels to circumvent Tehran's preferred maritime lane through the Strait of Hormuz would "increase tensions" across West Asia, even as Iranian and American forces carried out fresh exchanges of fire. The continued hostilities laid bare the fragility of a Pakistan-mediated deal meant to bring an end to the war that the United States and Israel launched in February — a conflict that had already thrown shipping through the strait into chaos and sent ripples through global energy markets.

Indian stock markets opened on a firm footing on Monday (June 29, 2026), coming off their longest run of weekly gains in 2026, as investors weighed encouragement from revived U.S.-Iran diplomatic engagement against the continued risks of geopolitical instability. The Nifty 50 index held steady at 24,061.75, while the BSE Sensex edged down a slim 0.06% to 77,055.21, as of 9:15 a.m. IST. Nine out of 16 key sectoral indices posted gains at the opening bell. The broader small-cap and mid-cap benchmarks traded largely flat. Other Asian markets retreated by about 0.4%, while Brent crude climbed 0.6% as market participants remained cautious in the wake of the recent West Asia tensions. — Reuters

Gold prices pulled back on Monday, June 29, 2026, as intensifying U.S.-Iran military exchanges in the Gulf drove crude oil prices higher, while growing expectations of interest rate hikes by the U.S. Federal Reserve heaped additional pressure on the non-yielding metal. Spot gold declined 0.7% to $4,061.35 per ounce as of 0242 GMT, while U.S. August gold futures slipped 0.5% to $4,076.40. The metal is now on track for a fourth straight monthly loss, having shed 10.4% so far this month. Crude oil surged after Iran unleashed missiles and drones against American military bases in Kuwait and Bahrain in the early hours of Sunday — a move that came shortly after U.S. President Donald Trump issued a blunt warning that Iranian leaders would face elimination if they failed to honour the terms of the agreement to bring the conflict to an end. – Reuters

Israel launched fresh strikes against Lebanon on Sunday (June 28, 2026), Lebanese state media reported, just two days after both nations signed a framework agreement aimed at bringing their armed hostilities to a close. A Hezbollah parliamentarian warned that these attacks risked triggering "internal conflict." Israel continued its military action in southern Lebanon despite having put its signature on a framework deal explicitly designed to wind down the fighting between the two countries.

The Israeli military knocked out underground facilities belonging to Lebanese militant group Hezbollah in a village in southern Lebanon, as confirmed in a joint statement by Israel's Prime Minister and Defence Minister on Sunday (June 29, 2026). Israel had informed the United States before launching the operation. The strike targeted and eliminated Hezbollah's subterranean network in the southern part of the country.

"When we are finished, take over your government. It will be yours to take. This will be probably your only chance for generations," U.S. President Donald Trump told the Iranian people on February 28, after the U.S. and Israel had launched a full-scale war against their nation. He called on the Islamic Revolutionary Guard Corps (IRGC), the armed forces, and the police to surrender their weapons, warning that compliance would mean "total immunity" while resistance would bring "certain death." The war set in motion by the U.S. and Israel has now arrived at a fragile pause through a preliminary understanding between Washington and Tehran, yet the fighting has already substantially eroded America's footprint and sway across the region.

American media, citing senior U.S. officials, reported that the United States and Iran have reached a mutual agreement to cease their exchange of strikes, with both nations planning to convene in Qatar on Tuesday (June 30, 2026) to work through their dispute over the Strait of Hormuz. "We decided to stop all the kinetic activity," a top U.S. official told Axios on Sunday, using the military term for active strike operations. A second American official confirmed to Axios that both sides are standing down "for now" and that "vessels can move freely" through the waterway, even as negotiations are set to continue. — AFP