Headlines: President Trump states that any agreement permitting Iranian collection of Strait of Hormuz transit fees would be unacceptable and warns negotiations would end immediately should tolls be imposed. The fifth round of Lebanon-Israel talks concludes without agreement on key withdrawal measures, with both delegations expressing dissatisfaction over the integration of Lebanon into the wider US-Iran MoU framework. Secretary Rubio concludes a Gulf tour aimed at securing regional support for the MoU, although Gulf partners continue to express concern over the absence of ballistic missile restrictions within the draft agreement. Pakistan confirms Iran’s ballistic missile programme remains outside the scope of negotiations, while Iranian officials reiterate that national defence capabilities are non-negotiable. Separately, a UN Commission of Inquiry publishes findings alleging serious violations by Israeli security forces in Gaza, which Israel rejects. Brent crude prices continue to decline as Middle Eastern oil supplies increase and Iranian crude exports recover under the temporary US sanctions waiver.
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