Iranian minister mocks Trump negotiations – Live updates

The price of Brent crude oil – the international benchmark – hit $110 per barrel today, rising 2.4% following a 2.8% gain yesterday.

Meanwhile, the US benchmark, West Texas Intermediate, rose 2.1% to about $98 per barrel, following a 2.1% increase yesterday.

Iran’s foreign minister Abbas Araghchi has openly mocked Donald Trump’s claims that he is winning the war in the Middle East.

He asked: ‘So then why did he ask for negotiations? Clearly, Iran is standing up to the largest superpower in the world, and they have not achieved a single one of their objectives.

‘That is why he is asking for negotiations, and we are now considering this option.’

Iran has banned the export of steel products, airstrikes targeted the country’s steel industry in the war with Israel and the United States.

Fars news agency reported a directive from the Islamic republic’s customs authorities ‘regarding the prohibition of the export’ of steel products, effective from April 26.

Neil Wilson, a strategist at investment bank Saxo, wrote in a note that it is the ‘physical scarcity [of oil that] is driving prices rather than headlines over the war.’

He added: ‘Traders are increasingly watching what’s happening on the water (i.e. nothing) rather than trading the diplomatic stuff.’

A spokesperson for Qatar’s foreign ministry today said: ‘We believe it should have never been closed and it should be opened immediately regardless of other considerations going on in the region.’

Five people have today been sentenced to life in Bahrain for plotting ‘terrorist and hostile acts’ with Iran, which has bombarded the tiny Gulf state during the Middle East war.

‘The Public Prosecution affirms that the crime of communicating with hostile foreign entities against the Kingdom of Bahrain is considered one of the most serious crimes affecting national security,’ Bahrain’s public prosecution said in a statement on X.

Majed al-Ansari, a spokesperson for Qatar’s foreign ministry, said the Strait of Hormuz should not be used as a pressure card.

The spokesperson added that Qatar is continuing to support Pakistan’s role as mediator between the US and Iran: ‘We do not need to expand the circle of negotiations; we support Pakistani mediation.’

Iran has today announced it will temporarily allow businesses to access the internet with fewer restrictions.

Most Iranians have been unable to access the worldwide web for the last 60 days according to the internet observatory NetBlocks, with only a few citizens having access to expensive and advanced VPNs that circumvent the restrictions.

‘The Supreme National Security Council approved the “Internet Pro” scheme to preserve businesses during times of crisis,’ said government spokesperson Fatemeh Mohajerani.

‘Once the situation is announced to be normal by relevant authorities, the situation of the internet will also change,’ she added, stressing that the government was receptive to people’s demands and believed in access to the internet as a civil right.

Authorities initially imposed an internet blackout from January 8 in response to nationwide anti-government protests, with connections gradually coming back to normal in February until a new blackout was initiated following the start of US and Israeli strikes against Iran on February 28.

In normal times, access to the global internet remains heavily restricted via censorship of many websites, while authorities are increasingly relying on an intranet to provide connected services without relying on the worldwide web, notably for schools which are currently following an online curriculum.

Ukrainian leader Volodymyr Zelenksy said today that Israel’s purchase of grain from his nation’s territory ‘stolen’ by Russia ‘cannot be legitimate business.’

He added that Kyiv was working on sanctions against people who attempt to profit from it.

Some US defence material deliveries to Europe are being delayed because of the war in the Middle East, Finland’s President Alexander Stubb said on Tuesday.

Sweden is issuing an early warning of a potential shortage of jet fuel stemming from the war in the Middle East, Energy Minister Ebba Busch said on Tuesday.

‘This is based on the Energy Agency’s assessment,’ Busch told a press conference.

Sweden could in a worst case scenario face rationing of aviation fuel, but the situation going forward depends to a great degree on how the market adapts, said Energy Agency General Director Caroline Asserup.