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US negotiators in Switzerland dispute Iranian claims that the Strait of Hormuz will be closed.
On Sunday, the United States and Iran will begin 'peace talks' in Switzerland. U.S. officials have disputed Iranian claims that the Strait of Hormuz is closed. Iranian state media reported that high-level Iranian officials arrived in Switzerland to hold peace talks with the U.S. The U.S. and Iran had agreed on a 60-day truce while negotiations are taking place. However, the Islamic Revolutionary Guard Corps of Iran declared the Strait of Hormuz closed, despite the U.S. Military stating that commercial vessels have continued to operate in the waterway. These developments could complicate negotiations between the two sides to implement an interim agreement brokered by Pakistan, and signed by Masoud Peshkian and Donald Trump on Wednesday to end their nearly four-month conflict. STRAIT OF HORMUD, LEBANON RETAINS FLASHPOINTS The IRGC, citing what it termed Israeli "crimes" committed in Lebanon, which violated U.S. agreements to a ceasefire agreement, warned that ships could be put at risk if approaching the Strait - a vital conduit of global oil and natural gas supplies. U.S. Central Command reported that 55 merchant ships passed through the Strait with 17 million barrels worth of oil bound for global markets. Central Command has said that U.S. troops will continue to ensure that commercial traffic is maintained. Trump said that no tolls would be levied for the passage of ships through the strait, during or after the ceasefire period. This is unless the U.S. decides to impose one if peace talks fail. In a post on social media, Trump mentioned the possibility that the United States could impose a toll "for the services rendered as the Guardian Angel for the countries of Middle East" in the event a peace agreement is not completed. Mohammad Mokhber is an advisor to Iran's Supreme Leader, Ayatollah Mojtaba Khamenei. He accused the U.S. He stated that as long as there was no agreement, the flow of energy from the Middle East would be stopped. Israeli forces and Hezbollah, a militant group backed by Iran, began to clash. Iranian media reported that the Iranian delegation, led by chief negotiator Mohammad Baqer Qalibaf, includes Foreign Minister Abbas Araqchi, as well as senior officials from security, central bank, and oil. The U.S. team also includes Steve Witkoff, Trump's daughter-in-law, and Jared Kushner. Esmaeil baghaei, spokesperson for the Iranian Foreign Ministry, said Iran will press Switzerland to fulfill commitments. He cited past failures of the other side in honouring agreements. The Pakistani Ministry of Foreign Affairs announced that Shehbaz Shaif, Prime Minister Shehbaz, and Field Marshal Syed Asim Munir will be attending this weekend's session. In an interview with Fox News Vance said that he was confident that the ceasefire will hold, and that he did not see any evidence that the Strait of Hormuz had been closed. After 4 pm, the U.S. Vice President left for Switzerland. Saturday, 2100 GMT (2100 ET) He told reporters that the negotiations would probably last a couple of days before they boarded a plane from Joint Base Andrews in Maryland. He said, "I hope we will make progress in the nuclear issue and the ceasefire issue in Lebanon." ISRAEL PROMISES TO DEFEND IT'S FORCES IN LEBANON The U.S. and Iran agreed that a halt in fighting in Lebanon would be a condition for the start of talks about Tehran's nuclear program, among other things. Lebanese Civil Defence reported that 20 people were killed by Israeli strikes on Lebanon Saturday, just hours after the truce was declared. Israel responded to Hezbollah's attacks, but the Iran-backed militants said they would not allow Israel "freedom" of movement in Lebanon. Israel claims that it is not a party to the Iran/U.S. agreement and will continue to keep its forces on the Lebanese land they occupy. Israel's military said that it was committed to the ceasefire, but would still continue to take action against any threats to Israel or its forces. Channel 12 in Israel reported that Prime Minister Benjamin Netanyahu and the minister of defence had ordered the military not to withdraw from the areas they had taken. According to a poll conducted by Israel's Hebrew University and shared with, 92% of Israelis think Iran has benefited more than Israel from the joint Israeli-U.S. campaign, while only 8% believe Israel came out victorious. Nearly 90% of Israelis believe that the war's goals were not achieved and over 70% don't believe Benjamin Netanyahu when he claims there were significant achievements. Lebanon's NNA state news agency reported that Israeli?warplanes? and drones? had attacked locations in southern Lebanon and Bekaa Valley, both Hezbollah strongholds? on Saturday. A senior Israeli military official reported that Hezbollah had fired over 50 projectiles overnight at Israeli forces south of Lebanon, and Israel had responded by attacking what it called Hezbollah-targets. Lebanon's Health Ministry says that 4,057 people, including women, children and medics, have died in Israeli attacks between March 2 and now, but it doesn't specify how many were combatants. According to Israeli authorities, at least 32 soldiers as well as four civilians were killed during the fighting between Hezbollah and Israel.
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Australia reduces household costs by extending the fuel excise tax relief
Australia's Prime Minister Anthony Albanese announced on Sunday that the fuel excise will be extended for an additional month. The country is still battling with high fuel costs due to the war in Iran. Albanese, in a statement, said that the government "would extend fuel excise relief to another month. This would make petrol and diesel 16c per litre less than normal prices for July. Australians will save around A$11 for each tank". He said that the temporary assistance would help Australians cope with their cost of living and ease the pain caused by high petrol prices. To help families cope with the higher fuel prices resulting from the Middle East war, the centre-left government has already reduced the excise tax on diesel and fuel for three months. The announcement on Sunday followed a decision made last month to extend the measure that allows petrol and diesel to be released from domestic reserves until September. The measure was set to expire on July. Australia, which imports the majority of its fuel, experienced localised shortages when the U.S. and Israel war against 'Iran broke out in February. Before the war, 20% of world oil was transported through the Strait of Hormuz. Albanese made televised comments on Sunday. "We know?that families are under pressure and we know?that the impact?of this conflict?on the?otherside of the world?will have a... long economic tail," he said. (Reporting from Sam McKeith, Sydney; Editing done by David Gregorio).
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US negotiators in Switzerland dispute Iranian claims that the Strait of Hormuz will be closed.
On Sunday, the United States and Iran will begin peace talks in Switzerland. U.S. officials have disputed Iranian claims that the Strait of Hormuz is closed. Iran's state-run media reported that a high-level Iranian delegation had arrived in Switzerland to begin peace talks with the U.S. JD Vance, U.S. vice president, left Washington on Saturday for meetings Pakistan has said will start Sunday. The U.S. and Iran had agreed to a ceasefire for 60 days while negotiations are taking place. However, the Islamic Revolutionary Guard Corps of Iran declared the Strait of Hormuz closed on Saturday, despite the U.S. Military stating that commercial vessels continued to operate in the waterway. These developments could complicate negotiations between the two sides to progress an interim agreement brokered by Pakistan, and signed by U.S. president Donald Trump and Iranian president Masoud Peshkian on Wednesday to end their nearly four-month conflict. The IRGC, citing what it termed Israeli "crimes" that had violated U.S. agreements to a ceasefire in Lebanon, warned that ships could be put at risk if approaching the Strait - a vital conduit of global oil and natural gas supplies. U.S. Central Command reported that 55 merchant ships passed through the Strait on Saturday, carrying more than 17,000,000 barrels of crude oil bound for global markets. Central Command said that U.S. troops will continue to ensure that commercial traffic is maintained. In a post on social media, Trump wrote on Saturday that there will be no toll for the passage of ships through the?Strait before or after the ceasefire period of 60 days -- unless the U.S. imposes a toll if peace talks fail. Trump has left the door open to the possibility that the United States could impose a Hormuz tax "for the services rendered to the Middle East countries as the Guardian Angel" if the peace deal isn't completed. Mohammad Mokhber is an advisor to the Iranian Supreme Leader Ayatollah Mojtaba Khamenei. He accused the U.S. He stated that the Middle East's energy flow would be halted as long as there was no?agreement on paper. The truce in Lebanon appeared fragile, as Israeli forces and Hezbollah, a militant group backed by Iran, attacked each other. ENERGY BUILDING FOR U.S.IRAN TALKS?IN SWITZERLAND According to Iranian media, the Iranian delegation included Abbas Araqchi, Foreign Minister, as well as officials from central bank, oil, and security. The U.S. team also includes Steve Witkoff, Trump's daughter-in-law, and Jared Kushner. Esmaeil baghaei, spokesperson for the Iranian Foreign Ministry, said Iran will press Switzerland to fulfill commitments. He cited past failures of the other side in honouring agreements. In an interview with Fox News Vance said that he was confident that the ceasefire will hold and that he did not see any evidence that the Strait of Hormuz had been closed. After 4 pm, the U.S. Vice President left for Switzerland. ET (2100 GMT), Saturday. Vance, speaking to reporters at Joint Base Andrews before boarding his plane in Maryland, said that the negotiations would probably last "a couple of days". He said, "I hope we will make progress?on the issue of the nuclear program and the ceasefire in Lebanon." The U.S. and Iran agreed that a halt in fighting in Lebanon would be a condition for the start of talks about Tehran's nuclear program, among other things. Lebanese Civil Defence reported that Israeli airstrikes in Lebanon killed 20 people on Saturday, just hours after the ceasefire took effect. Israel claimed that it was responding to Hezbollah's attacks, while the Iran backed group stated that they would not allow Israel to have "freedom of movements" in Lebanon. Israel, which was left out of the talks and has not signed the Iran-U.S. agreement, said that it will keep its troops in the Lebanese territories it occupies. Channel 12 in Israel reported that Prime Minister Benjamin Netanyahu and Defense Minister Ariel Sharon had instructed their military to stop firing on Lebanon but not to withdraw from the areas they had taken. In a poll conducted by the Israeli Hebrew University, 92% of Israelis believed that Iran gained more from the joint Israeli and U.S. military campaigns than Israel. Only 8% of Israelis thought Israel had won. Nearly 90% of Israelis believe that the goals of the conflict were not achieved and over 70% do not believe Netanyahu's claims of major accomplishments. Lebanon's NNA state news agency reported that Israeli drones and warplanes struck Hezbollah-held areas in southern Lebanon on Saturday. A senior Israeli military official claimed that Hezbollah had fired more than 50 projectiles overnight at Israeli forces located in southern Lebanon, and Israel responded by attacking what it called Hezbollah's targets. Israel's military said that it was committed to a ceasefire, but that they would continue to take action against any threats to Israel or their forces. Lebanon's Health Ministry says that 4,057 people, including women, children and medics, have died in Israeli attacks between March 2 and now, but it doesn't specify how many were combatants. According to Israeli authorities, at least 32 soldiers as well as four civilians were killed during the fighting with Hezbollah.
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Zelenskiy, Ukraine's Zelenskiy, confirms drone attack on refinery facilities in Russia's Tyumen Region
Volodymyr Zelenskiy, the Ukrainian president, said that Ukrainian drones struck an oil refinery in Russia's Tyumen Region, located in western Siberia. This was more than 2,000 kilometers (1,200 miles), from Ukraine. He said that Ukraine has also developed long-range drones with a range of more than 3,000 kilometers. In his video message, Zelenskiy thanked the Ukrainian military's special forces for reaching Tyumen Region, Russia, and a?oil refinery. More than 2,000 kilometers from our state boundary. "This is effective work." Ukraine's military is engaged in a long-term campaign of?strikes against Russian targets. The focus has primarily been on the oil industry, in order to stop Moscow's ability to fund the war. Alexander Moor said earlier that Russian air defences had repelled an attack by drones on the oil refinery. According to him, preliminary reports indicate that there were no damages and the staff was evacuated. It has an annual nominal capacity of around 8 million tons. According to estimates, it processes approximately 6 million tons of crude oil annually and produces 0.5 million tons gasoline and 2.5 millions tons diesel. Zelenskiy said that the modernised, long-range drones have also been "successfully deployed". He said, "They are now able to reach targets at a distance of up to 3,000 km." This is a 'completely justified response to Russian attacks against our state. Ukraine is implementing its plan for long-range operations." Reporting by Ron Popeski, Oleksandr Kozoukhar and Editing by Franklin Paul
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The Russian-owned Zaporizhzhia Nuclear Plant says that external power connection has been restored
The Zaporizhzhia?power station in southeast Ukraine, which is occupied by Russia, announced?on Saturday?that?external?power?had been restored. For a while the station was forced to rely solely on diesel generation. The plant's Russian management released a statement on Telegram saying that the plant is operating normally after the return to external power. Radiation levels were normal. International Atomic Energy Agency (IAEA), the U.N.'s nuclear watchdog?also reported that?the external?line?was restored after a 4-1/2-hour break. The Ukraine Energy Ministry stated that Russian military activity is responsible for the disconnections. This is the 20th time since Russia began its full-scale invasion of Ukraine in February 2022. The plant is Europe's biggest with six reactors. It produces no electricity but requires power from?two external links? to keep the nuclear fuel cool. The plant was seized by Russia in the first weeks of the conflict. Since then, both sides have accused each other of military actions that compromise nuclear safety. Reporting by Devika Nir in Bengaluru. Mark Potter, Ron Popeski, and Franklin Paul edited the report.
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Spain feels the heat as Madrid World Cup Fan Zone is cancelled
A fan zone in Madrid was cancelled because of the forecast high temperatures. The Spanish Football Federation (RFEF), in collaboration with the city of Madrid, transformed Plaza de 'Colon into a large fan meeting place called Plaza Seleccion. Here, fans could watch Spain’s?World Cup games on large screens. The Spanish football federation (RFEF) turned Plaza de?Colon in the capital city into a large meeting point?for fans, called Plaza Seleccion, where supporters could watch Spain's 'World Cup matches on large screens. The RFEF announced on Saturday that "for reasons of safety and public health it has been decided to cancel the entire program planned for the Colon Fan Zone. This includes the broadcast of match." Fans are advised to avoid prolonged exposure to heat and to follow instructions from the emergency and civil protection services. The stadium roof will be closed, and the air conditioners will keep the temperature down.
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The Cubs are on a roll and score another 7 against the Blue Jays
The Chicago Cubs, fresh off their second seven run inning in two games, will be looking to win their third consecutive series on Saturday when they take on the Toronto Blue Jays. Carson Kelly's second grand slam of his career highlighted a seven-run opening inning, as Chicago recorded a new season high for runs in a 16-2 win over Toronto. ?Kelly? also recorded a lifetime-high six RBIs, after working a bases loaded walk in the sixth and seventh innings. "I just have to be aggressive at those moments." Kelly told Marquee Sports Network, "Great win for the guys." Two days after their 8-6 win over the Colorado Rockies, the Cubs pounded out 18 hits. MLB.com reports that Chicago has not had seven-run innings consecutively since July 5-6 2001. Chicago, which had a terrible stretch of going 0-9-1 overall in series, has now turned the tide. The Cubs' recent success can be attributed to a number of offensive stars. Pete Crow-Armstrong, who had three hits and a RBI in the first game of the series, also reached base on all five occasions he appeared at bat. He has now hit safely in 21 of 22 games, and nine consecutively. "You won't come here and steamroll people every time." Crow-Armstrong said that we are bound to be called "stretchy" when we have played in the manner we have so far. If we can just get on a roll right now, it would be great. This will set us up nicely for the break. Just adding to our identity which we see in games such as this. That is a lot of aggression?and instinctual baseball. That's us." On Saturday, Toronto's left-hander Patrick Corbin (2-4, 4.57 ERA), will face Chicago's right-hander Colin Rea(5-5, 5.35). Corbin's winless streak extended to four appearances following his team’s 8-3 defeat against the New York Yankees on Sunday. In 3 2/3 innings, Corbin allowed two runs on seven hits. The?36 year-old has a 5-2 record with a?4.60 ERA over 14 career appearances (13 starting) against the Cubs. Rea is looking to bounce back from two subpar performances. He gave up 11 runs in 15?hits, including three homers. In 9 1/3 innings he also walked six times. The 35-year old is 1-1 in his career with a 2.77 ERA (both starts) against the Blue Jays. Toronto's Vladimir?Guerrero Jr. grabbed his lower back after a pop-out on Friday in the sixth inning. The five-time All-Star had missed two games in the first half of this month because of a back problem, but manager John Schneider said that this injury is not as serious. Schneider said that the situation was "nothing like when he missed two games." "Unless something changes, I believe he should be fine (on Saturday), which is a positive." Field Level Media
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Heatwave in Europe prompts crisis talks in France
As temperatures reached record highs, the punishing heatwave that swept across Europe led to emergency meetings in France, warnings for all of Germany, and stress on residents and tourists in Italy. Sebastien Lecornu, the French prime minister, was to convene a crisis conference on Saturday. The national weather agency Meteo France had warned that the heat wave would continue into the next week. It compared it to "major episodes" in 2003 and 2019 Forecasters predicted that temperatures between 39 and 40 degrees Celsius could reach 41C in some parts of Burgundy by Sunday. On Monday temperatures are likely to reach a peak, possibly matching historical highs. Temperatures of up to 38C were also reported in Germany. The DWD weather service warned that a combination of heat, humidity and thunderstorms could be triggered by a combination. COOLING UNDER A ROMAN TEMPLE Temperatures expected to reach 36-37C in some Italian cities have transformed the daily life of residents and tourists. The summer heat in Rome made sightseeing a challenge for tourists. Some found relief in the cool underground spaces under the semi-hidden remnants of the Temple of Claudius. Bologna is one of the hotter cities in the peninsula. People splashed water at the 16th century Fountain of Neptune, and sought shade under the porticoes. Poles in Warsaw sought relief from the summer heat at popular summer destinations along the 'Vistula River. HEATWAVES - AN ECONOMIC TOLL Scientists claim climate change will make heatwaves in Europe more intense and frequent, increasing the risk of economic disruption and health emergencies during summer. Deputy Mayor Emmanuel Gregoire ordered that parks remain open 24 hours a day to help residents. Attention is also drawn to the economic impact of extreme heat. Bank of France Emmanuel Moulin stated that the short-term impact on?growth was "somewhat ambiguous" citing both decreased productivity and increased energy consumption, but warned in the medium-term heatwaves will weigh on economic activity. (Reporting from Giselda Vasgnoni, Dominique Vidalon, and Rachel More, in Paris; editing by Jan Harvey).
As markets wait for Trump's decision on Iran, gold falls on stronger dollar and oil
As investors waited for Donald Trump's announcement on the proposed agreement to extend the ceasefire, gold prices dropped on Monday. As of 0718 GMT spot gold was down by 0.7%, at $4,505.87 an ounce. This is after it hit a two-week peak in the previous session. U.S. Gold Futures for August Delivery fell 1.2% to $4,535.90.
Dollar rose, making greenback bullion prices more expensive for holders other currencies.
Tim Waterer, KCM Trade's chief market analyst, said that the rise in oil prices, coupled with the still-elusive U.S. Iran deal, was enough to put gold on the back foot at the beginning of the week. Trump announced on Friday that he will soon make a decision on extending?the ceasefire agreement with Iran. However, the two countries appear to still be at odds on important?issues which have been a central part of the conflict. U.S. officials said they had struck Iranian military targets over the weekend. Iran's Revolutionary Guards responded by claiming that it had attacked a U.S.-based base. Benjamin Netanyahu, the Israeli prime minister, ordered his troops to advance further into Lebanon, in order to fight the Iranian-backed Hezbollah militants, despite the ceasefire that was announced over six weeks ago.
The oil prices increased by more than 3% Monday, fueling concerns about inflation and rate hikes. Gold is seen traditionally as a hedge against inflation but loses its appeal when interest rates are high. Michelle Bowman, Vice Chair of Supervision at the Federal Reserve, said that the impact of the Middle East war on the economy could be measured but still lead to persistent inflation, which might require tighter monetary policy.
Waterer stated that "gold could reach $5,500 by the end of 2026 if favorable circumstances are met, including lower oil prices and a dollar depreciation, which would be backed up by central bank purchases and its role as an inflation and geopolitical hedge." Silver rose 0.7% per ounce to $75.80, platinum rose 1% to $1.935.65, while palladium rose by 0.5% to 1,360.93. (Reporting and editing by Subhranshu sahu, Rashmi aich, and Pablo Sinha from Bengaluru)
(source: Reuters)