US, Iran Clash Near Hormuz as Response on Proposed Deal Awaited

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(Bloomberg) — The US and Iran clashed near the Strait of Hormuz, an escalation that threatens to further fracture a fragile ceasefire as the two sides discuss a permanent end to the war. 

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US forces targeted missile and drone launch sites and other military assets in Iran that they said were responsible for attacking three US warships transiting the strait. No vessels were hit, US Central Command said. A monthlong ceasefire remains in effect, President Donald Trump said.

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The clashes risk undermining talks over a US-proposed deal to end the war that began in February. Iran is expected to send a response via Pakistan, acting as a mediator, in the next two days, a person familiar with the matter said on Wednesday. Trump threatened more intense strikes if Iran refuses his terms, raising the risk of a longer war that has already killed thousands and sparked a global energy crisis.

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“Just like we knocked them out again today, we’ll knock them out a lot harder, and a lot more violently, in the future, if they don’t get their Deal signed, FAST,” Trump said in a social media post. “It might not happen, but it could happen any day,” Trump told reporters later, referring to a possible agreement.

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Brent crude-oil futures rose 1.3% to $101.38 a barrel. Asian equities fell 1.1%, pulling back from a record close after Wall Street benchmarks also retreated from their peaks. European natural gas also advanced during thin trading in Asia, with front-month futures climbing 3.8%.

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The war, which began when the US and Israel launched attacks on Iran, effectively shut the Strait of Hormuz, through which about a fifth of the world’s oil and liquefied natural gas typically flows.

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Before the clashes near Hormuz were announced, Iran said that the US had targeted two of its oil tankers in the area, according to a Press TV report citing the country’s joint military command. It also accused the US of striking civilian areas along its southern coast and on Qeshm Island “with the cooperation of some regional countries,” the report said.

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The United Arab Emirates, which has borne the brunt of Iran’s retaliatory strikes on US allies in the region, said Friday morning that its air defenses were intercepting missiles and drones targeting the country.

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The US “does not seek escalation but remains positioned and ready to protect American forces,” Centcom said.

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The US “eliminated inbound threats and targeted Iranian military facilities responsible for attacking US forces including missile and drone launch sites,” according to the statement. USS Truxtun, USS Rafael Peralta, and USS Mason transited Hormuz and reached the Gulf of Oman without any US assets being struck, it said.

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Iran’s leaders haven’t indicated whether they will accept the terms of the US offer, though they have shown little sign of yielding on their nuclear program or accepting a moratorium on enriching uranium — both top US demands.