The U.S. and Iran exchanged fire in and around the Strait of Hormuz, though both sides signalled they did not want escalation. The clashes come as Washington awaits Tehran’s response to a proposed deal to end the war while leaving key disputes, such as Iran’s nuclear programme, unresolved for now.
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The U.S. Treasury on Friday announced sanctions against 10 individuals and companies, including several in China and Hong Kong, for aiding efforts by Iran's military to secure weapons and raw materials used to build Tehran's Shahed drones.
The Treasury move, first reported by Reuters, comes days before U.S. President Donald Trump plans to travel to China for a meeting with President Xi Jinping and as efforts to end the war with Iran have stalled.
In a statement, the Treasury said it remains ready to take economic action against Iran's military industrial base so Tehran cannot reconstitute its production capacity and project power outside its borders.
The Treasury said it was also prepared to act against any foreign company supporting illicit Iranian commerce, including airlines, and could impose secondary sanctions on foreign financial institutions that aid Iran's efforts, including those connected to China's independent "teapot" oil refineries.
“Under President Trump’s decisive leadership, we will continue to act to Keep America Safe and target foreign individuals and companies providing Iran’s military with weapons for use against U.S. forces,” Treasury Secretary Scott Bessent said in a statement.
Russian Foreign Minister Sergei Lavrov told his United Arab Emirates counterpart on Friday that U.S.-Iran talks needed to be supported to prevent a resumption of hostilities in the Middle East.
"The Russian side emphasised the need to focus on supporting the ongoing negotiations between Iran and the USA," a Foreign Ministry statement said of Lavrov's telephone conversation with Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan.
The statement said Russia did not want "to jeopardise the prospects for stabilisation by resuming hostilities."
Talks between the U.S. and Iran could resume as early as next week in Pakistan's capital Islamabad, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The newsapaper said the two sides are working with mediators to formulate a one-page, 14-point memorandum of understanding that would set the parameters for a month of talks aimed at ending the war.
The draft is said to include discussions on Iran’s nuclear program, the Strait of Hormuz, and possible handling of Iran’s highly enriched uranium stockpiles to another country.
Iran has begun rebuilding a bridge destroyed by a U.S.-Israeli airstrike in early April, Tehran's Foreign Ministry spokesperson Esmaeil Baqaei has said.
Basqaei posted a video on X of what appeared to be construction work taking place on the B1 Bridge in Karaj, north-central Iran, alongside a message indicating it was being repaired.
In early May, the head of the company overseeing the highway bridge's reconstruction said the works would cost about 3.5 trillion tomans (roughly $23 million).
The U.S. State Department said the United States will facilitate two days of intensive talks between the governments of Israel and Lebanon on 14-15 May.
The discussions are expected to focus on key bilateral and regional issues amidst ongoing tensions in the region.
The U.S. military struck two empty Iranian-flagged oil tankers on Friday that it said were seeking to violate the ongoing U.S. blockade, U.S. Central Command said in a post on X.
"All three vessels are no longer transiting to Iran," Central Command said.
The U.S. military carried out more airstrikes on Friday and hit several empty tankers attempting to break the blockade on Iran, a Fox News reporter said on X.
U.S. Secretary of State Marco Rubio said that the U.S. should get a response on Friday from Iran to its proposal to end the war.
"We'll see what the response entails. The hope is it's something that can put us into a serious process of negotiation," Rubio, told reporters in Rome.
Rubio also noted that troop deployment decisions within NATO ultimately rest with U.S. President Donald Trump, adding that force adjustments within the alliance are continuously planned.
On security issues, he warned that any missile attacks on U.S. forces would prompt a response from Washington, and clarified that Thursday’s strikes were separate from Operation “Epic Fury.”
He further stated that the U.S. will not engage in talks with Hezbollah, stressing that Washington’s focus remains on supporting the Lebanese government.
The United States Central Command (CENTCOM) said that more than 70 tankers were being prevented from entering or leaving Iranian ports on Friday.
"These commercial ships have the capacity to transport over 166 million barrels of Iranian oil worth an estimated $13 billion-plus," CENTCOM said in a post on X.
The United Arab Emirates' air defences engaged with two ballistic missiles and three drones launched from Iran, with three people suffering moderate injuries, the UAE Ministry of Defence posted on X.
Iranian Foreign Minister Abbas Araghchi rejected claims that Iran’s missile and launcher capacity had fallen to 75% of pre-war levels, saying “the correct figure is 120%” compared with 28 February.
Israeli airstrikes on the town of Toura in southern Lebanon killed two people and seriously wounded five others, Lebanon’s National News Agency reported. The wounded were transferred to hospitals in Tyre.
Residents of Toura had received Israeli evacuation warnings earlier in the day along with nearly a dozen other towns in southern Lebanon. Lebanese media said Israeli warplanes later carried out a second round of strikes on Toura and also targeted a house in Tayr Falsayh in the Tyre district.
The European Commission said airlines must continue to comply with all passenger protection rules, arguing that disruption to the jet fuel market caused by the Iran war is not severe enough to justify broader exemptions.
The Commission said airlines could only avoid paying compensation for cancellations in cases involving local fuel shortages, and added that retroactive charges such as additional fuel surcharges are not permitted.
Iran has seized the oil tanker Ocean Koi over what state media described as an attempt to disrupt Iran’s oil exports. It's described as the latest escalation that affected commercial shipping linked to the Strait of Hormuz.
China’s Foreign Ministry confirmed that an oil products tanker carrying Chinese crew was attacked in the Strait of Hormuz. Beijing is reportedly deeply concerned about commercial vessels being affected by the ongoing Middle East conflict.
Foreign ministry spokesperson Lin Jian said there were Chinese nationals aboard the vessel but no casualties had been reported so far.
Chinese outlet Caixin reported that the Chinese-owned tanker was attacked near the strait on Monday.
French Transport Minister Philippe Tabarot said he does not expect massive airline cancellations this summer despite jet fuel shortages linked to the Middle East conflict.
It was noted that carriers are reluctant to cut flights during their most profitable season.
Transavia France said it cancelled 2% of its flights in May and June. Meanwhile, the French government prepares support measures for airlines including delayed social security contributions, extended tax deadlines and flexibility on fuel loads.
Pakistan’s Foreign Minister Ishaq Dar said he has asked Singapore’s Foreign Minister Vivian Balakrishnan for assistance in repatriating Pakistani and Iranian seafarers aboard vessels seized by U.S. forces and now nearing Singaporean waters.
Posting on X, Dar said he is also coordinating with Iranian Foreign Minister Abbas Araghchi and that Pakistan “stands ready to facilitate the safe repatriation of Iranian nationals to Iran via Pakistan.”
11 Pakistani and 20 Iranian seafarers are on board the vessels.
Japanese automotive manufacturer Toyota forecast a 20% decline in profit for the current financial year.
It cited cost pressures and supply uncertainties linked to the Middle East conflict, even as strong demand for hybrid vehicles continues to support sales growth.
The world’s top-selling automaker expects operating income of 3.0 trillion yen ($19 billion) for the year to March 2027, down from 3.77 trillion yen previously and well below analyst expectations.
The company said it has limited ability to offset short-term disruptions, with longer-term adjustments still incomplete.
Average U.S. gasoline prices have risen more than 40% since late February, climbing about $1.20 per gallon to above $4, according to data from the American Automobile Association.
The increase comes as disruptions to oil shipments through the Strait of Hormuz have pushed global crude prices higher, adding pressure to energy markets already strained by the ongoing conflict.
U.S. President Donald Trump said three U.S. Navy destroyers had “very successfully” transited the Strait of Hormuz under fire, claiming Iranian missiles, drones and small boats were destroyed during the confrontation.
In a post on Truth Social, Trump warned Iran would face even stronger military action if it did not quickly agree to a deal with Washington.
He also said the destroyers would rejoin what he described as a U.S. naval “Wall of Steel” blockade.
The White House said U.S. President Donald Trump will deliver remarks from the Rose Garden on Friday (8 May) at 1600 GMT.
The president’s public schedule did not specify the subject of the address.
The United Arab Emirates’ Ministry of Defence said sounds heard across the country were caused by “ongoing engaging operations of missiles and UAVs”, according to a statement posted on X.
“The public is urged to remain calm and follow the safety and security instructions issued by relevant authorities,” the ministry said.
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One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, saying the warning should be taken seriously and that the kingdom “bore responsibility for failed interceptions”, a day after an attack on Riyadh's international airport that killed 12 people.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Ukraine is ready to stop attacks on Russian oil refineries if Moscow also halts strikes on Ukrainian energy infrastructure, President Volodymyr Zelenskyy said on Sunday.
The leader of Yemen's Saudi-backed government announced the beginning of a major military operation against the Iran-backed Houthis on Sunday, aimed at seizing the territory under their control.
Iran says the Strait of Hormuz will remain closed until the United States meets seven conditions agreed under a June memorandum, as President Donald Trump signals he may soon decide whether to resume military operations against Tehran.
Governments from the Persian Gulf to the Horn of Africa are hedging against a conflict they cannot control, with contingency plans beginning to reshape trade routes, alliances and the regional map.
A supertanker which was cruising through the Strait of Hormuz was targetted by an unknown projectile off the coast of Oman, according to an Iranian news agency which said the vessel was “violating” navigation rules at the Strait of Hormuz on 1 October.
Iranian President Masoud Pezeshkian has accused the U.S. and Israel of seeking to foment internal divisions in Iran after failing to defeat the country militarily, Iran's state news agency IRNA reported.
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