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Weekend Geopolitical Headlines: US-Iran exchanged strikes over the weekend, although Axios reported that the sides have agreed to halt strikes and meet this week

Newsquawk StaffPublished On the live feed at , 20 minutes before this page
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[MARKET UPDATE] US equity futures trade with mild gains (Emini S&P +0.4%), while oil prices are higher (WTI +1.2%) following US-Iran tit-fot-tat strikes over the weekend, although the sides have since agreed to halt strikes and meet for talks this week

Weekend Geopolitical Headlines: US-Iran exchanged strikes over the weekend, although Axios reported that the sides have agreed to halt strikes and meet this week

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  • US conducted strikes on Friday against Iranian coastal radar installations and missile and drone storage sites in response to Iran’s drone attack on a commercial ship in the Strait of Hormuz. US also conducted a fresh round of strikes against Iran on Saturday in tit-for-tat attacks, in which the US targeted Iranian communication and air defence sites, drone-storage facilities and minelaying capabilities after Iran hit another ship carrying Qatari oil. Furthermore, Iran launched missiles and drones targeting the Ali Al-Salem Air Base in Kuwait and the Fifth Fleet in Salman Port, Bahrain on Sunday.
  • US President Trump posted late on Saturday that “United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN! It is very possible that they will never learn! There may come a point when we are no longer able to be reasonable, and will be forced to militarily complete the job that we very successfully started. If that happens, the Islamic Republic of Iran will no longer exist!”
  • Iran cancelled technical talks with the US scheduled on Sunday and cited recent attacks on the country and a failure to meet conditions outlined in the MoU with the US. However, it was separately reported that the US and Iran agreed to halt strikes and meet this week, according to Axios citing a senior US official. Furthermore, US and Iran technical talks that were scheduled to be held on Tuesday in Switzerland that would focus on nuclear and other issues, have reportedly been changed and will now be held in Doha on Tuesday and will focus on the Strait of Hormuz and recent escalation.
  • IRGC said that a direct line of communication with America regarding the Strait of Hormuz has not been and will not be established, according to an Al Arabiya report on Friday.
  • Israel destroyed a Hezbollah underground tunnel in southern Lebanon.
  • Israeli PM Netanyahu and Defence Minister Katz said the IDF will remain in the southern Lebanon "security zone" after destroying Hezbollah underground facility.
  • US, Israel, and Lebanon signed a trilateral framework agreement on Friday, while the agreement was reported to include an Israeli withdrawal from an area in favour of the Lebanese Army, according to Al Araby citing Israel Channel 13 sources. However, Hezbollah sources told Al-Araby TV that the framework agreement signed in Washington is rejected and not binding on the resistance, while they will only accept a complete Israeli withdrawal from Lebanese territory.

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