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LIVE | Pentagon says cost to US of war against Iran nears $29 billion

Iran's top negotiator declared Tuesday that Washington must accept Tehran's latest peace plan or face failure, after U.S. President Donald Trump warned that the truce in the Middle East war was on the verge of collapse.

A photograph taken in the southern Lebanese area.

A photograph taken in the southern Lebanese area.AFP

Williams Perdomo
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Oil prices rose and stock markets fell Tuesday as investors braced for more volatility after talks to end the Middle East war and reopen the Strait of Hormuz to tanker and cargo traffic appeared to stall.

Iran's top negotiator declared Tuesday that Washington must accept Tehran's latest peace plan or face failure, after U.S. President Donald Trump warned that the Middle East war truce was on the verge of collapse.

Times correspond to Eastern Standard Time (ET).

Pentagon says cost to US of war against Iran nears $29 billion

The Pentagon announced Tuesday that the cost of the war with Iran had risen to nearly $29 billion, as President Donald Trump faced increasing scrutiny over the conflict and its impact on military readiness.

The new figure, disclosed by the Defense Department during a budget hearing on Capitol Hill, is about $4 billion higher than the estimate offered by Defense Secretary Pete Hegseth two weeks ago.

Israel sent anti-aircraft systems to the Emirates

The Israeli government sent anti-aircraft defense systems to the United Arab Emirates during the war with Iran, the U.S. ambassador to Israel revealed.

The Emirates were targeted almost daily by Iranian reprisals during the war in the Middle East, triggered on February 28 by the joint U.S.-Israeli attack on Tehran. A cease-fire has been in effect since April 8 and has generally been respected.

Revolutionary Guards conduct maneuvers

Iranian Revolutionary Guards conducted military maneuvers in Tehran, amid the threat of renewed hostilities with the United States and Israel, state media reported.

According to Brigadier General Hasan Hasanzadeh, commander of the Guards in Tehran, the maneuvers have included rehearsals of combat scenarios against the enemy, in all terrains.

Iran's Ultimatum

Iran's chief negotiator on Tuesday issued an ultimatum to the United States to accept the conditions of Tehran's proposed 14-point plan to end the war.

Qatar denounces "blackmail"

Iran cannot use the Strait of Hormuz "as a weapon to pressure or blackmail" the Gulf oil monarchies, Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani stressed at a news conference in Doha.

Kuwait foiled Iranian infiltration attempt

Kuwait's Interior Ministry asserted Tuesday that four people arrested in early May while attempting to enter the country by sea "confessed" to belonging to the Revolutionary Guards, Iran's elite army.

Hezbollah warns of "hell for Israel"

Hezbollah chief Naim Qasem ruled out a surrender by the pro-Iranian Lebanese movement and vowed to transform "the battle into a hell for Israel," which is preparing a new round of negotiations with Lebanese authorities in Washington.

Oil prices rise

The failure of the U.S. and Iran to reach an agreement to end the conflict and reopen the Strait of Hormuz boosted oil prices.

Six killed in bombing in Lebanon.

The Lebanese national news agency NNA announced Tuesday the death of six people in an Israeli bombing raid on Kfar Dounine in the south of the country.

Arab Emirates directly attacked Iran in April

The Wall Street Journal reported Monday that the United Arab Emirates carried out military operations against Iran on its own in April, although only the United States and Israel claim to have been involved in the strikes against Tehran.

According to the U.S. newspaper, which cites unnamed sources, these Emirati bombings targeted, in particular, oil facilities on the island of Lavan, Iranian territory in the Gulf, in early April.

According to the U.S. newspaper, which cites unnamed sources, these Emirati bombings targeted, in particular, oil facilities on the island of Lavan, Iranian territory in the Gulf.

U.S. imposes new sanctions to prevent Iranian oil sales

The U.S. Treasury Department on Monday sanctioned 12 individuals and entities linked to Tehran that it accuses of "facilitating" Iran's oil sales to China.

Washington adopted the measure ahead of Donald Trump's visit to Beijing this week.

Three Iran-based individuals and nine companies, based in Hong Kong and the United Arab Emirates, appear subject to the new sanctions.

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