US Iran War Ceasefire Live Updates: US warns China banks over Iran oil as AI deal blocked
The US has warned China banks over Iran oil trade as a $2 billion AI deal was blocked amid rising tensions. Iran proposed reopening the Strait of Hormuz in exchange for the US ending its naval blockade and halting the conflict.
The US has stepped up scrutiny of China's links with Iran, including sanctions on a Chinese refinery. A $2 billion AI deal between the US and China was blocked. Iran proposed reopening the Strait of Hormuz in exchange for the US ending its naval blockade. The proposal includes a phased de-escalation plan that would pause discussions on Iran's nuclear program. US officials responded cautiously, stating Iran cannot be allowed full control over the key global shipping route. Oil prices rose above $111 per barrel due to the ongoing war.
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