Iran-US war latest: Trump says Tehran ‘dying to sign a deal’ after drone strike on UAE nuclear plant

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Iran-US war latest: Trump says Tehran ‘dying to sign a deal’ after drone strike on UAE nuclear plant

A drone strike has sparked a ⁠fire at an electrical generator at the Barakah Nuclear Power Plant in Abu Dhabi

Donald Trump said Iran is dying to sign a deal as the two sides exchanged notes on the latest Iranian proposal to end the war.

“They scream all the time,” the president told Fortune ahead of last week’s China summit, in an interview published today. “I can tell you one thing - they’re dying to sign [a deal].

“But they make a deal, and then they send you a paper that has no relationship to the deal you made. I say, ‘Are you people crazy?’”

The comments emerged as a spokesperson for Iran’s foreign ministry said that Iran was focused on ending the war, despite fresh reports of attacks on a nuclear power station in the UAE.

The ministry said a process of talks through mediator Pakistan was ongoing, with Iran demanding the US release Iranian frozen funds and lift sanctions.

A Pakistani source said meanwhile that Pakistan has shared with the US a revised proposal from Iran to end the conflict.

“We don't have much time,” the source said, when asked if it would take time to close gaps, adding that both countries “keep changing their goalposts”.

Recap: Iran threatens UAE after reports of strike at nuclear plant

Iran has issued a fresh warning to the United Arab Emirates after a drone strike on an Emirati nuclear power plant stoked fears of re-escalation.

Mohsen Rezaei, a former commander of the IRGC and secretary of Tehran’s expediency council, warned on Sunday that “the UAE should not become entangled in Israel’s plots and schemes” following reports of a strike at the Barakah Nuclear Power Plant in Abu Dhabi.

Rezaei insisted that Iran has not “closed the door to friendship” with the UAE, but they “should know that Iran’s patience has limits”, according to Iran’s ISNA news agency.

Iran’s foreign ministry reiterated on Monday that Tehran has “no enmity” with any regional countries, after the UAE said it had the right to respond to the reported drone strike in Abu Dhabi.

As the region looked at risk of descending back into conflict, the ministry said that talks were still ongoing through mediator Pakistan, and that both sides have shared new comments on the latest Iranian proposal to end the war.

James Reynolds18 May 2026 11:30

Recap: Trump tells Iran 'the clock is ticking' to end the war

Donald Trump has warned Tehran that the “clock is ticking” and threatened consequences if its leaders do not act quickly.

"For ⁠Iran, the ‌Clock is Ticking, ‌and they better ‌get moving, FAST, ⁠or there won’t be anything left of them. TIME ‌IS OF ‌THE ESSENCE!," the US president wrote ⁠in a ‌Truth Social ‌post.

Trump warned that if Tehran failed to reach a peace agreement with the US, it would face "a very bad time”.

"If they don’t, they’re going to have a bad time. A very bad time. They had better make a deal," Trump told French media. He also shared an AI-generated graphic of him and a US Navy admiral in front of stormy waters, and the line: "It was calm before the storm."

James Reynolds18 May 2026 11:00

G7 is right forum to discuss ending Iran conflict, German minister says

The Group of Seven countries is the right forum for discussing how to bring a lasting end to the war in Iran, which along with the blockade of the Strait of Hormuz poses a serious threat to the global economy, German finance minister Lars Klingbeil said on Monday.

Klingbeil will travel to Paris to join a meeting of G7 finance ministers and central bankers on Monday and Tuesday.

“Our path as Europeans remains clear: We rely on cooperation rather than confrontation,” he said. “We rely on partnerships, reliability, open trade, and the strength of the rule of law.”

The minister said recent crises had underlined the need for Germany and Europe to become more independent and resilient, particularly in raw materials, energy and supply chains.

James Reynolds18 May 2026 10:30

Recap: Pezeshkian invites Pakistan for talks in Tehran

Pakistan’s interior minister Mohsin Naqvi held talks with Iranian president Masoud Pezeshkian in Tehran on Sunday.

Naqvi spent nearly three hours at the presidency and held a private meeting with Pezeshkian lasting around 90 minutes, a statement from Pakistan’s embassy said.

James Reynolds18 May 2026 10:00

Pakistan 'relays Iranian proposal to Washington'

Pakistan has shared with the US a revised proposal from Iran to end the conflict in the Middle East, a Pakistani source said on Monday.

"We don't have much time," the source told Reuters, when asked if it would take time to close gaps, adding that both countries "keep changing their goalposts".

James Reynolds18 May 2026 09:37

Watch: Lindsey Graham calls on Trump to strike energy infrastructure in Iran

James Reynolds18 May 2026 09:31

Global firms down $25bn as Iran war bites, new analysis shows

The US-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a new analysis.

A Reuters review of corporate statements since the start of the conflict by companies listed in the United States, Europe and Asia offers a sobering look at the fallout.

Businesses are grappling with soaring energy prices, fractured supply chains and trade routes severed by Iran's chokehold on the Strait of Hormuz.

At least 279 companies have cited the war as a trigger for defensive actions to blunt the financial hit, including price increases and production cuts, the analysis shows. Others have suspended dividends or buybacks, furloughed staff, added fuel surcharges, or sought emergency government assistance.

James Reynolds18 May 2026 09:00

Washington to call on G7 members to sanction Iran's 'war machine'

United States treasury secretary Scott Bessent said on Monday that he would call on G7 finance ministers to follow a sanctions regime in order to keep financing away from what Bessent described as Iran's “war machine”.

Bessent added that last week's trip by a U.S. delegation to China, led by President Donald Trump, was “very successful”.

James Reynolds18 May 2026 08:28

Mapped: Strikes reported near UAE's nuclear power plant

A drone strike caused a fire at a nuclear power plant in the UAE, local officials said on Sunday, as Saudi Arabia said it intercepted three drones.

Emirati officials said they were investigating the source of the strike at Barakah Nuclear Power Plant, and the UAE said it had the full right to respond to “terrorist attacks”.

The drone hit an electrical generator outside the inner perimeter of the Barakah Nuclear Power Plant, the Abu Dhabi Media Office said.

Saudi Arabia said the three drones it intercepted entered from Iraqi airspace and warned that it would take the necessary operational measures to respond to any attempt to violate its sovereignty and security.

James Reynolds18 May 2026 08:26

Iran allows energy giant’s ship to sail through Strait of Hormuz

A support vessel owned by Malaysian firm Vantris Energy, formerly Sapura Energy, has successfully transited the Strait of Hormuz, LSEG shipping data showed on Friday.

This marks the fourth Malaysian-linked ship to navigate the crucial waterway since the US-Iran conflict began in late February, severely impacting global energy supplies.

The Sapura 1200 was one of seven vessels for which the Malaysian government sought Iranian permission to clear the strait, largely restricted since the conflict's outbreak, two sources familiar with the matter told Reuters.

Iran allows energy giant’s ship to sail through Strait of Hormuz

The ship made its way through the strait, hewing close to the Iranian coastline, before heading for Oman

James Reynolds18 May 2026 07:58