Summary

Dubai: A tenuous ceasefire appeared to be holding Saturday after the United States struck two Iranian oil tankers, while the country that hosts the US Navy's regional headquarters said it arrested dozens of people it alleged were linked to Iran's Revolutionary Guard. Attacks on Friday cast doubt on the tenuous month-old ceasefire that the United States has insisted is still in effect. Washington is awaiting an Iranian response to its latest proposal for a deal to end the war, reopen the Strait of Hormuz and roll back Tehran's disputed nuclear program. Also Read: US, Iran no closer to ending war as Gulf clashes flare The US military said Friday that its forces had disabled two Iranian tankers that were trying to breach an American blockade of Iran's ports. Hours earlier, the military said it thwarted attacks on three Navy ships and struck Iranian military facilities in the strait. Meanwhile, in the small Gulf island of Bahrain, the nation's Ministry of Interior said Saturday it had arrested 41 people it alleges are part of a group affiliated with Iran's Revolutionary Guard. It said investigations are ongoing to take further action against anyone affiliated with the group but did not provide further details. Bahrain is led by a Sunni Muslim monarchy but, like Iran, its population is majority Shiite. Rights groups have said that the kingdom has used the war between Iran and the US, which bases its Fifth Fleet in the country, as an excuse to crack down on dissent at home Also Read: Iran reviewing US proposal at 'own pace' as Trump awaits response: Report The US military posted video of the two Iranian tankers as their smokestacks were struck by an American fighter jet on Friday. Earlier in the week, an American military jet shot out the rudder of a tanker the US military said was attempting to breach its blockade. A US strike overnight killed at least one sailor and injured 10 others aboard a cargo vessel that caught fire, a news agency affiliated with Iran's judiciary reported. It was not clear if the ship was one of the two tankers the US acknowledged striking. Despite the attacks, US President Donald Trump has insisted the ceasefire is holding. He also has reiterated threats to resume full-scale bombing if Iran doesn't accept an agreement to reopen the strait and roll back its nuclear program. On Friday, Iranian foreign ministry spokesperson Esmail Baghaei said the country was not paying attention to "deadlines" and Tehran continues reviewing a US proposal related to ongoing negotiations, according to state-run IRNA. A top Iranian official also said Friday that the country's Supreme Leader Mojtaba Khamenei was in "complete health" and that he would eventually appear in public. The comments were made by Mazaher Hosseini, who is affiliated with the office of Iran's former Supreme Leader, at a pro-government gathering. Hosseini said Mojtaba had suffered knee and back injuries but that they've largely healed and he's now in good condition. Khamenei hasn't been seen in public since the war began and the continued absence of verified images, audio, or video of him has fuelled speculation about his status. Remarks such as Hosseini's are seen by some as attempts to counter doubts that he may no longer be alive. Russia's foreign ministry said Saturday that it, as well as Saudi Arabia, is calling for continued diplomatic efforts to reach a "sustainable, long-term agreement" to end the war, according to Russia's foreign ministry. Egyptian and Qatari top diplomats have also reiterated that diplomacy is the sole path to finding a solution, according to a readout of a Saturday phone call between Egyptian Foreign Minister Badr Abdelatty and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani. Pakistani Prime Minister Shehbaz Sharif said his country has been in contact with the US and Iran "day and night" in an effort to extend the ceasefire and reach a peace deal. (You can now subscribe to our Economic Times WhatsApp channel) Attacks on Friday cast doubt on the tenuous month-old ceasefire that the United States has insisted is still in effect. Washington is awaiting an Iranian response to its latest proposal for a deal to end the war, reopen the Strait of Hormuz and roll back Tehran's disputed nuclear program. Also Read: US, Iran no closer to ending war as Gulf clashes flare The US military said Friday that its forces had disabled two Iranian tankers that were trying to breach an American blockade of Iran's ports. Hours earlier, the military said it thwarted attacks on three Navy ships and struck Iranian military facilities in the strait. Meanwhile, in the small Gulf island of Bahrain, the nation's Ministry of Interior said Saturday it had arrested 41 people it alleges are part of a group affiliated with Iran's Revolutionary Guard. It said investigations are ongoing to take further action against anyone affiliated with the group but did not provide further details. Bahrain is led by a Sunni Muslim monarchy but, like Iran, its population is majority Shiite. Rights groups have said that the kingdom has used the war between Iran and the US, which bases its Fifth Fleet in the country, as an excuse to crack down on dissent at home Also Read: Iran reviewing US proposal at 'own pace' as Trump awaits response: Report US says it responded to an attack in the Strait of HormuzIran has mostly blocked the critical waterway for global energy since the US and Israel launched the war on February 28, causing a global spike in fuel prices and rattling world markets. The US has imposed its own blockade of Iran's ports. The US military posted video of the two Iranian tankers as their smokestacks were struck by an American fighter jet on Friday. Earlier in the week, an American military jet shot out the rudder of a tanker the US military said was attempting to breach its blockade. A US strike overnight killed at least one sailor and injured 10 others aboard a cargo vessel that caught fire, a news agency affiliated with Iran's judiciary reported. It was not clear if the ship was one of the two tankers the US acknowledged striking. Despite the attacks, US President Donald Trump has insisted the ceasefire is holding. He also has reiterated threats to resume full-scale bombing if Iran doesn't accept an agreement to reopen the strait and roll back its nuclear program. On Friday, Iranian foreign ministry spokesperson Esmail Baghaei said the country was not paying attention to "deadlines" and Tehran continues reviewing a US proposal related to ongoing negotiations, according to state-run IRNA. A top Iranian official also said Friday that the country's Supreme Leader Mojtaba Khamenei was in "complete health" and that he would eventually appear in public. The comments were made by Mazaher Hosseini, who is affiliated with the office of Iran's former Supreme Leader, at a pro-government gathering. Hosseini said Mojtaba had suffered knee and back injuries but that they've largely healed and he's now in good condition. Khamenei hasn't been seen in public since the war began and the continued absence of verified images, audio, or video of him has fuelled speculation about his status. Remarks such as Hosseini's are seen by some as attempts to counter doubts that he may no longer be alive. Calls for calmAs tensions escalate, there's been a flurry of diplomacy across the globe. Russia's foreign ministry said Saturday that it, as well as Saudi Arabia, is calling for continued diplomatic efforts to reach a "sustainable, long-term agreement" to end the war, according to Russia's foreign ministry. Egyptian and Qatari top diplomats have also reiterated that diplomacy is the sole path to finding a solution, according to a readout of a Saturday phone call between Egyptian Foreign Minister Badr Abdelatty and his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani. Pakistani Prime Minister Shehbaz Sharif said his country has been in contact with the US and Iran "day and night" in an effort to extend the ceasefire and reach a peace deal. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel) Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition