The World in Brief from The Economist

Iran’s Islamic Revolutionary Guard Corps warned that it would completely close the Strait of Hormuz if Donald Trump carries through on a threat to “obliterate” Iran’s power plants; Japan’s foreign minister suggested that his country’s armed forces could be sent to the Strait of Hormuz for minesweeping operations “if there were to be a complete ceasefire”.

Donald Trump said Iran had 48 hours to open the Strait of Hormuz or America would launch strikes on its power plants; Dozens of people were injured in two Iranian missile attacks on southern Israel

Earlier Iran fired two ballistic missiles at Britain’s military base on the island of Diego Garcia in the Indian Ocean

Meanwhile American stocks fell. The S&P 500 and the NASDAQ closed 1.5% and 2% lower respectively

Donald Trump said he was considering “winding down” the war against Iran because America was “very close” to meeting its aims; America lifted sanctions on some Iranian oil in an attempt to calm volatile energy markets.

Meanwhile American stocks fell; the S&P 500 and the NASDAQ closed 1.5% and 2% lower respectively

Donald Trump said he did not want a ceasefire with Iran and that NATO allies lacked “courage” to help America reopen the Strait of Hormuz; The price of Brent crude, the global oil benchmark, reached $112 a barrel as fears of a global energy shortage grew

Israel claimed that American-Israeli strikes had destroyed Iran’s capability to enrich uranium and make ballistic missiles. Also, Scott Bessent said the Trump administration would consider easing sanctions on Iranian oil at sea in a bid to calm volatile energy markets.