Iran reportedly launches missiles as Trump mulls deal to pause war for two months Iran’s armed forces launched missiles at unidentified targets in southern Iran, hours after the Pentagon reported ballistic missile and drone activity near the Strait of Hormuz. This comes as a potential deal for a temporary ceasefire and nuclear negotiations between the U.S. and Iran is reportedly nearing agreement, though President Trump has yet to give final approval. Major stock indexes rose on the news of diplomatic progress, contrasting with U.S. sanctions on Iran’s “Persian Gulf Strait Authority” and warnings to Oman regarding potential transit tolls.

• Iran’s armed forces fired missiles at unidentified targets in southern Iran.
• The U.S. and Iran have reportedly “mostly agreed” to terms for a 60-day memorandum of understanding to temporarily end the three-month war and begin nuclear negotiations.
• President Trump has not yet given final approval to the proposed agreement.
• Major stock indexes rose following reports of progress toward a temporary deal.
• The U.S. Treasury sanctioned Iran’s “Persian Gulf Strait Authority” and warned Oman against implementing tolling systems for the Strait of Hormuz.
• Iran reportedly launched a ballistic missile toward Kuwait, which was intercepted, and deployed attack drones near the Strait of Hormuz, actions the U.S. called “egregious ceasefire violations.”
• President Trump stated he feels no pressure to make a deal with Iran before the midterm elections.