Iran is no longer world’s leading state sponsor of terror, Graham says

US Senator Eric Schmitt said on Thursday Washington’s strategy toward Iran is to “apply pressure, create leverage, then negotiate,” adding that the blockade is having a direct economic impact.

"The blockade is working, Iran is isolated and their economy is starved. That creates conditions for a deal but The Presidents is not going to make a deal if it is not a good deal," Schmitt told Fox.

The Foundation for Defense of Democracies (FDD) estimates that Iran’s economic losses from the ongoing conflict could total between $50 billion and $300 billion, or roughly 40 percent of pre-war GDP, in a preliminary assessment of the war’s impact.

The report says Iran’s opaque financial system, large informal economy, and wartime conditions make precise estimation difficult, and notes that several major cost categories, including human capital losses and reconstruction costs, were not included in the model.

Israel Ambassador to US Yechiel (Michael) Leiter said on Thursday progress toward peace between Israel and Lebanon depends on confronting Hezbollah, praising US President Donald Trump’s administration for advancing negotiations and invoking the Abraham Accords as a model.

"If Hezbollah and IRGC operatives continue to be treated with kid gloves, a real process of achieving our mutual goal will remain unachievable," Leiter said at the White House.

"Time and again, Iran and Hezbollah have dragged Lebanon into war against Israel. Due to the degrading of Iran and its proxies through the leadership of President Trump and Prime Minister Netanyahu, we believe the time has come to put an end to this intolerable situation, once and for all," he added.

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US forces have seized a vessel carrying approximately 1.9 million barrels of Iranian oil in the Indian Ocean, US Attorney Pirro said on Thursday, adding the operation was carried out under a federal seizure warrant.

"Overnight, pursuant to a seizure warrant submitted by my office and signed by a federal magistrate, US forces interdicted the dark fleet vessel, M/T Majestic (formerly known as the M/T Phonix), while carrying approximately 1.9 million barrels of Iranian oil in the Indian Ocean," Pirro posted on X.

"Earlier this week, US forces similarly seized the M/T Tifani based on one of our seizure warrants. It too was laden with approximately 1.9 million barrels of Iranian oil. We will continue to relentlessly investigate, track, and pursue these cases, using every lawful authority to hold sanctioned actors and those who support terrorism accountable, and to deny them of any ability to profit from illicit maritime activity," she added.

US President Donald Trump said on Thursday Washington is working to bring Israel and Lebanon closer together, describing Hezbollah as a common problem and pledging US support to help Lebanon rebuild and stabilize.

"I mean, we have a good relationship with Lebanon. It's amazing that. The amazing thing is they actually have sort of a good relationship with Israel. They don't deal with each other, but now they deal with each other. We're putting them together. We're going to help we're just going to help them," Trump said at the White House.

"We're going to help them. They're great people. It can be a really good country again, maybe a great country again. And I think you have all the ingredients. So we're going to work together. And I think Israel is going to I think Israel is going to be terrific, but they do have a common problem. It's Hezbollah," he added.