Iran live: Furious Trump condemns ‘leakers’ amid reports US low on precision missiles

A furious Donald Trump has hit out at “leakers” as he condemned “treasonous” reports that the US has almost depleted its stock of precision long-range missiles in its war with Iran.

The president claimed the US still has “massive amounts” of the expensive munitions, adding that “large amounts are being manufactured and shipped to the US as needed”.

“The ‘leakers’ of these treasonous statements are being hunted down. Long term jail sentences will be sought!” he added in the Truth Social tirade.

Trump also denied US media reports that he had reprimanded defence secretary Pete Hegseth during a Cabinet meeting in which low ammunition stockpiles were discussed.

Two sources told Reuters news agency that the military’s surface-to-surface weapons, known as Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles (PrSM) had been "virtually all" used in its war against Tehran.

Meanwhile, the US president claimed the Strait of Hormuz is “sort of open” and predicted that the war with Iran will “end pretty ‌soon” as negotiations continue between Tehran and Oman.

The US president said although the shipping route was under US control, there was a possibility that Tehran could still “shoot things” or “drop a mine.”

British pound drops against euro and dollar on Friday

The British pound has dropped against both the euro and U.S. dollar on Friday, as markets weigh the talks in the Middle East.

Sterling was 0.1 per cent lower against the dollar at £1 - $1.3438. Against the euro, the pound was similarly lower at one euro per 85.76 pence.

Investors are cautious about diplomatic efforts to end the Iran war and reopen the crucial Strait of Hormuz, especially as tensions flared up again in the Middle East, Reuters news agency reports.

An attack by Yemen's Houthis on southern Saudi Arabia wounded 11 civilians on Thursday, a military official said, as the kingdom warned that coordinated attacks by the Houthis and Iran-backed Iraqi militias were imminent.

Brent crude futures were last slightly lower on the day at $82.16 per barrel.

US military leader is looking for off-ramp from Iran war: report

Chairman of the Joint Chiefs General Dan Caine has privately told other top US officials that the country needs to find an off-ramp from the Iran war, according to CNN, which cited three sources familiar with the matter.

Caine’s talks with advisers to US President Donald Trump are just to make clear the limitations and pitfalls of different military options, according to the sources.

Joseph Holstead, a spokesperson for Caine, told CNN, “We do not discuss the Chairman’s confidential conversations with the President, the Secretary, or other senior leaders, nor do we comment on anonymous, agenda-driven characterizations of those conversations by sources who were not privy to them”.

A White House official praised Caine, telling the outlet: “The General always provides accurate, unbiased information and a host of options to the Commander-in-Chief, who ultimately makes decisions based on what he feels is best for US national security”.

The Independent has reached out to the White House and Pentagon for comment.

US military says it's redirected over 50 ships during blockade

US Central Command said it has redirected 51 ships during its blockade of Iranian ports.

American forces have also disabled two ships and boarded two more.

Pakistan, Turkey and Saudi Arabia sign a mutual defence agreement

Pakistan, Turkey and Saudi Arabia have signed a mutual defense agreement, at a time the Iran-backed Houthi rebels have stepped up attacks on Saudi-linked targets.

Oil-rich Saudi Arabia, nuclear power Pakistan and Turkey, which has Nato’s second-largest army and a rapidly growing defence industry, signed a mutual defense agreement on Friday.

The deal stipulates that an armed attack on either of the three countries will be regarded as an attack against them all.

It was signed during a meeting in Saudi Arabia between Saudi Crown Prince Mohammed bin Salman, Turkish president Recep Tayyip Erdogan and Pakistan’s prime minister Shehbaz Sharif, Pakistan's foreign ministry said.

“The Agreement is intended to strengthen collective deterrence against any act of aggression,” the ministry said in a statement.

The deal comes at a time when Saudi Arabia, whose critical infrastructure and oil facilities have come under attack as part of the war in Iran, has been looking to diversify its defense partnerships.

Watch: Trump meets mining CEOs as US pushes critical-minerals agenda

Iran feels time is on its side as negotiations with US continue

To borrow a phrase from Donald Trump's own theory of geopolitics, Iran believes it holds the cards.

“They started the war, but its end was never with them. We always decide for ourselves when it ends," Mahdi Mohammadi, an adviser to Iran's chief negotiator, posted on social media. “Iran is going after the enemy’s defeat — not an agreement.”

He said a surprise Iranian attack on Jordan in July “compensated” for a drop in oil prices. That contributed to the collapse of an interim agreement reached in June that had offered significant concessions to Iran, including a US waiver to sell oil internationally and the promise of broader sanctions relief.

Iran has repeatedly said the Strait of Hormuz will not go back to being an open waterway, and that it will keep attacking ships trying to transit without its permission. Iran's joint military command has called it an “unbreakable red line.”

“For Iran, the Strait of Hormuz has become a strategic lever for deterrence, maintaining the regional balance of power, and reshaping the security rules in the Persian Gulf," said Mostafa Najafi, a Tehran-based security analyst.

That poses a major obstacle to ending the war, much less resolving the even more complex, long-standing dispute over Iran's nuclear program.

"The atomic issue, because of the conflict in the Strait of Hormuz, has been pushed to the side, and in reality, that is in Iran’s interests,” said Rahman Ghahremanpour, an Iran-based analyst. Control of the strait would give Iran leverage if the nuclear talks resume, he added.

Abu Dhabi oil company says it is impacted by unprovoked attacks

An oil company in Abu Dhabi has hit out at what it called unprovoked attacks on its vessels.

The Abu Dhabi National Oil Company said on Friday it continued to be significantly impacted by the attacks, but was taking measures to protect its people, assets and operations while meeting customer requirements as much as possible.

ADNOC said in a statement that 15 of its vessels had been attacked by missiles and drones while transiting the Strait of Hormuz since the start of the conflict, including three this week, leaving one crew member dead and 20 injured.

Trump hosts mining CEOs amid worries over depleting weapons stockpiles

US president Donald Trump yesterday convened executives from leading mining companies at the State Department to strengthen domestic and allied supplies of critical minerals, a key component of the nation's security and industrial strategy.

The administration seeks to replenish weapons stockpiles, depleted during the Iran conflict, and reduce US dependence on Chinese supply chains for essential minerals like rare earths, tungsten, and germanium, which are vital for advanced military systems.

The White House needs critical minerals to replenish weapons stockpiles depleted ​during the ⁠Iran conflict and reduce US dependence on Chinese supply chains.

The gathering included approximately 200 participants, featuring executives from companies such as Resolution Copper, MP Materials, and Century Aluminum, alongside high-ranking officials including Interior Secretary Doug Burgum and Secretary of State Marco Rubio.

Several executives came with gifts for Trump. Tom Albanese, chairman of deep-sea mining firm American Ocean Minerals, gave Trump a gold replica of a nodule that the company hopes to mine from the Pacific seabed. Trump last year said he may bypass the UN-backed International Seabed Authority and issue international seabed mining licenses.

Jim ‌Litinsky, CEO of rare earths firm MP Materials, which is financially supported by the Pentagon, ‌gave Trump magnets that had been produced for General Motors in the company's Texas plant.

Watch: Trump says Strait of Hormuz is 'sort of open'

How does Oman-Iran deal give Tehran an upper hand

Iran says it is close to reaching a deal with Oman to manage the Strait of Hormuz, which runs between the two countries.

But it would be conditional on the US lifting its blockade on the crucial waterway.

It would formalise its control over what had been an open international waterway before the war, one that carried a fifth of the world's traded oil and gas.

Abdolreza Davari, an analyst who once advised former president Mahmoud Ahmadinejad, said Iran's effective control of the strait has given it leverage with the US and regional countries that can help guarantee its security.

“More than revenue from the strait, Iran wants to confirm its management and sovereignty over the strait,” he said by phone from Tehran.

Formal control over even part of the strait would be a clear win for Iran and a loss for the US, which has yet to accomplish some of its various and shifting goals in the war.

It would also deal a blow to global norms on freedom of navigation and set a precedent that much of the world would find disturbing — that nations can shut down trade choke points at will.

China, which buys oil from Iran and has influence over it, said as recently as May that “normal and safe passage” through the strait should be restored.