US-Iran war updates: Trump’s Strait of Hormuz blockade tested, no White House ceasefire extension requested

Despite the escalating rhetoric in Iran, financial markets surged overnight with Wall Street hitting record highs on optimism a deal between the US and Iran could still be reached.

It came as Israeli Prime Minister Benjamin Netanyahu said Washington and Tel Aviv were “fully aligned” in their goals — including stripping Iran of its enrichment capability and reopening the Strait of Hormuz.

He also signalled a major escalation against Hezbollah, declaring its “dismantling” a top priority in renewed talks with Lebanon.

Behind the scenes, the White House says a second round of talks with Iran is likely within days, with Islamabad floated as a possible host.

Treasurer Jim Chalmers has issued a joint statement with colleagues from the UK, Japan, Sweden, the Netherlands, Finland, Spain, Norway, Ireland, Poland and New Zealand calling for a swift end to the war in the Middle East and full reopening of the Strait of Hormuz.

They say there has been “unacceptable loss of life and disruption to the global economy and financial markets”, and asked for the ceasefire to be implemented “in full” with a speedy move to a resolution.

“Renewed hostilities, a widening of the conflict or continued disruption in the Strait of Hormuz would pose serious additional risks to global energy security, supply chains, and economic and financial stability. Even with a durable resolution of the conflict, impacts on growth, inflation and markets will persist,” the finance ministers said in the statement issued after meetings in Washington DC.

They called on all countries to “avoid protectionist actions” like export controls on fuel and oil products or stockpiling.

They have also promised that, given the global problems with debt and tight budgets as highlighted by the IMF this week, local responses to help people with the effects of the way “must be fiscally responsible and targeted at those who most need support”.

Iran’s Parliament speaker Mohammad-Bagher Ghalibaf says the Axis of Resistance stands united, only willing to accept a ceasefire which protects Lebanon.

“The completion and consolidation of a comprehensive ceasefire in Lebanon will be the result of the steadfastness and struggle of the esteemed Hezbollah and its heroism, as well as the unity of the Axis of Resistance,” he wrote on X.

“The United States must commit to the agreement.

“ The resistance and Iran are one and the same entity, whether in war or in a ceasefire. America must back away from Israel’s first mistake.”

FIFA President Gianni Infantino insists that Iran will participate in the World Cup “for sure” despite its war with the United States.

Speaking at CNBC’s Invest in America Forum, Infantino said it is important that Iran takes part in the World Cup starting in June even though its participation has been in doubt since the US and Israel launched airstrikes on the country.

“The Iranian team is coming for sure, yes,” Infantino said. “We hope that by then, of course, the situation will be a peaceful situation. As I said, that would definitely help. But Iran has to come. Of course, they represent their people. They have qualified. The players want to play.”

Infantino met with the Iranian national team in Antalya, Turkey, two weeks ago and said on Wednesday he was impressed.

“I went to see them. They are actually quite a good team as well,” Infantino said. “And they really want to play and they should play. Sports should be outside of politics now.”

Infantino acknowledged it was not always possible to achieve the separation of sports and politics.

The United States has threatened to sanction buyers of Iranian oil, saying it believes China would pause such purchases as Washington enforces a maritime blockade on Iran.

“We have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions,” US Treasury Secretary Scott Bessent told reporters at the White House on Wednesday.

The US maritime blockade on Iran began on Monday as the Iran war entered its seventh week. China previously bought more than 80 per cent of Iran’s shipped oil.

“We believe (that with) this blockade ... there will be a pause of Chinese buying,” Mr Bessent said.

The US Treasury has also written to two Chinese banks and “told them that if we can prove that there is Iranian money flowing through your accounts, then we are willing to put on secondary sanctions,” he added.

China’s embassy in the United States did not immediately respond to a request for comment on Mr Bessent’s remarks.

Firefighters are responding to a “significant” blaze at Viva Energy’s Geelong refinery after emergency services received multiple reports of explosions late on Wednesday night.

Fire Rescue Victoria confirmed crews were called to the Corio facility about 11pm following calls describing flames and loud blasts at the major fuel site.

Authorities said the fire was not yet under control when emergency teams arrived, all workers on site have been accounted for and no injuries have been reported.

Smoke was still visible rising from the refinery on Thursday morning as authorities continued to assess the extent of the damage, which remains unclear.

Energy Minister Chris Bowen confirmed the incident would affect supply from one of Australia’s two remaining oil refineries, with early indications pointing to disruption to petrol production.

“Petrol, high octane petrol – in particular diesel and jet fuel – continues to be produced at the refinery. But obviously I’ve been talking to the Chief Executive over the last several hours and will continue to talk to him today to get better assessments. As you’d understand that it’s very early in terms of assessments on production,” he told Sunrise.

“It will impact on production at this point, petrol rather than diesel and jet fuel. But we’re going to continue to really work closely with Viva, the company, and really monitor and work together on any impacts.”

Read the full story.

White House Press Secretary Karoline Leavitt has shut down claims that the US had asked Iran for a ceasefire extension, meaning US President Donald Trump could return to threats of destruction and annihilation of Iran within days.

“I saw some bad reporting this morning that we had formally requested an extension of the ceasefire. That is not true at this moment,” Ms Leavitt said on Wednesday.

“We remain very much engaged in these negotiations, in these talks.

“We feel good about the prospects of a deal... and it’s obviously in the best interest of Iran to meet the President’s demands.

“I think he has made his red lines in these negotiations very clear.”

The US Central Command (CENTCOM) has released a video that includes audio of a standoff in the Strait of Hormuz after Mr Trump’s blockade began.

The US has deployed 10,000 military personnel to enforce the strict blockade in an attempt to starve Iran of influence.

“Prepare to be boarded,” a voice can be heard saying.

“If you do not comply with this blockade, we will use force. The whole of the US Navy is ready to force compliance.”

In another update, CENTCOM said: “The guided-missile destroyer USS Spruance (DDG 111) successfully redirected the vessel, which is heading back to Iran.“

The US claimed that 10 ships have now been turned away and “ZERO ships have broken through”.

​

​