Image source, Reuters

Any damage caused by Iran against US allies will be paid for by funds "extracted from Iranian accounts", US Treasury Secretary Scott Bessent says.

In a post on X, Bessent says any tolls paid to the Persian Gulf Strait Authority - a new body set up by Iran to control the Strait of Hormuz - "will be offset by [Iranian] funds".

He continues: "Every attack Iran launches will only deepen the economic and financial consequences it faces."

Earlier today, Iran lauched a series of attacks against US assets in Jordan, Bahrain and Kuwait. This came after a series of US strikes in southern Iran.

It is highly questionable whether US could seize Kharg Islandpublished at 16:12 BST

16:12 BST

Frank Gardner
Security correspondent

Image source, EPA

If the US does decide to invade Kharg Island then it would most likely be a temporary measure intended to put pressure on Iran by cutting off its fuel exports until it relinquished its chokehold on the Strait of Hormuz - one of the world's busiest oil shipping lanes - and conceded to Washington's demands.

Given the resilience and defiance of the Iranian regime it is highly questionable whether this would work. Iran is believed to have reinforced its defences on the island, including with surface-to-air missile batteries.

In theory, US paratroopers could make an airborne assault, probably at night, to seize key positions on this small island, which measures just 20 sq km (7.7 sq miles).

The US Marines would deploy from ships equipped with Osprey tilt-rotor aircraft and Landing Craft Air Cushioned (LCAC) for making amphibious landings. But first those ships would have to run the gauntlet of getting through the Iranian-controlled Strait of Hormuz and then sailing all the way up the Gulf past any number of hidden Iranian drone and missile launch sites.

Any landing, by air or sea, would expect to be met with anti-personnel mines and swarms of drones. Such is the awesome fighting power of these Marine Expeditionary Units (MEUs) that the US force would almost certainly prevail, but it could come at the expense of a severe number of casualties.

The US then has the problem of holding the ground, for an indeterminate period, while subject to bombardment from the Iranian mainland.

You can read a longer version of this analysis on Kharg Island, which was published in March, here.

A negotiating team from Qatar held meetings in the Iranian capital Tehran into the early hours of this morning, according to reports.

A Qatari official tells the BBC’s US news partner CBS News that the negotiating team has since returned to Doha as diplomatic efforts continue.

Qatar has condemned Iranian attacks on Jordan, Bahrain and Kuwait, which came after US strikes in Iran. It has served as a mediator between the US and Iran, and called for work towards de-escalation.

A spokesman for Pakistan’s foreign ministry also told reporters earlier today that the country’s interior minister had held “important meetings” with senior leaders in Iran this week.

Trump's comments reignite speculation of a US ground operationpublished at 15:40 BST

15:40 BST

Tom Bateman
US State Department correspondent

Trump’s vow to “take” Kharg Island will reignite the fevered speculation during the war itself that a US ground operation could be imminent.

It will also spark furious denunciations in Tehran.

As ever with Trump, it’s impossible to know if it’s a genuine plan or bluster aimed at bullying his adversaries into capitulation.

We do know that the US 82nd Airborne Division remains in the region because US Central Command referenced their involvement in this week’s rescue of an Apache helicopter crew.

Such an airborne elite infantry unit could be an essential component to any land-based operation.

But within a few minutes of his social media post, Trump appeared on Fox News seeming to contradict the more definitive tone of his earlier statement.

He said, instead, that his “preference” had always been “to take Kharg Island” which he said could make a “fortune” for the US (meaning in oil revenues), but that he doubted the American people had “the stomach for it” - whilst also saying he "does not want to have to put boots on the ground".

We can now bring you more comments from US President Donald Trump, who has been speaking to American media outlets about the war in Iran.

He tells Fox News that the US "dropped $250m (£187m) worth of bombs" on Iran last night and reiterates his threat to take Kharg Island.

But he raises doubts about whether the US "has the stomach" to engage in such a military operation.

"I'm not sure the country has the appetite for it, as good as it is," he says on a phone call.

Nabiha Ahmed
Live reporter

Image source, ISNA/Reuters

In his latest threat of escalation, Donald Trump has said the US will hit Iran "very hard" tonight.

The US president has threatened to "assume total control" of Iran's oil and gas markets, and seize Kharg Island in the "not too distant future". Why is Kharg Island important?

His comments come after the US Central Command confirmed it had struck a third ship in the Gulf of Oman this week, claiming the Guinea-Bissau-flagged vessel Jalveer "violated" the US blockade of Iranian ports in the Strait of Hormuz.

Earlier, an Indian official confirmed three Indian sailors had been killed in a "deeply unfortunate" US strike on the Palau-flagged Settebello off the coast of Oman. "Everything was alright when we last spoke," says a father of one of the deceased sailors.

Iran's foreign ministry says the US's actions render the ceasefire “practically meaningless”. Iran has been targeting US military assets across the Gulf region - local authorities say an 11-year-old girl was injured in an Iranian drone attack on Bahrain this morning.

Several countries - including Pakistan, Russia and China - have reiterated their calls for de-escalation between Iran and the US.

Chances of a deal may be even slimmer nowpublished at 14:52 BST

14:52 BST

Sebastian Usher
Global affairs correspondent, reporting from Jerusalem

The US strategy right now appears to be to ratchet up its strikes on Iran day by day, without resuming all-out war. Iran has been responding in kind.

The country's foreign ministry has said that at this point the ceasefire has been rendered "practically meaningless".

Arab Gulf states are again being put back on the frontline of the conflict, as Iran has been trying to hit US military bases that they host.

In recent weeks, the Iranian regime appears to have been capitalising on Trump's reluctance to go back to war, but his mood may once again be changing.

Nevertheless, mediators from Qatar and Pakistan are still trying to nail down a deal.

The chances may be even slimmer now.

Jemma Crew
Business reporter

The price of oil rose by about $2 after US President Donald Trump promised to hit Iran "very hard" with fresh strikes, and take control of its oil and gas markets.

Brent crude futures increased to $94.16 a barrel in the space of a few minutes this afternoon, before falling back slightly.

"At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America," Trump wrote on Truth Social. You can read the post in full here.

Earlier on Thursday, the oil price had been on a downward tilt from a high of just over $95 just after 01:00 BST, to just under $92 by mid-morning in the UK.

Explosions have been heard in the vicinity of the Iranian city Sirik, which borders the Strait of Hormuz, Iran's semi-official news agency Mehr reports.

The BBC has not independently verified this report, and neither the US nor Iran have commented directly on if strikes were carried out.

Image source, EPA

In his latest Truth Social post, Trump says he will be "taking" Kharg Island "at some point in the not too distant future".

He claims he will take control of their oil and gas markets, "much like we have with Venezuela".

The small island off the coast of Iran is home to a major oil terminal that is considered the country's economic lifeline.

On 13 March, the US launched strikes on Kharg, with Trump saying US forces had "totally obliterated" every military target there. It held off targeting the island's oil infrastructure, but the president warned of possible further American action.

Taking the island could choke off Iran's oil exports and provide a platform for the US military to carry out attacks against the mainland.

The US could use the island as leverage to compel the Iranians to keep the strait open.

But, analysts warn that it could be challenging and a US landing force would have to move considerable distances, either through naval vessels or airborne forces.

Chris Partridge
BBC News weapons analyst

US Central Command (Centcom) says one of its aircraft used two Hellfire missiles to disable the oil tanker in the Gulf of Oman yesterday.

The missiles were fired into the engine room of the Guinea-Bissau flagged Jalveer vessel, Centcom says. US military authorities say the crew repeatedly failed to comply with directions from US forces as the ship tried to transport oil from Iran.

Hellfire missiles - or AGM-114s to give them their official designation - are carried by both US military drones and US Army Apache helicopters. They are often guided using semi-active laser technology for precision strikes.

The pilot locks a laser beam onto a target using a screen in the cockpit / control panel and the weapon flies to the point where the laser is striking. With a stated range of some 8km, even fast-moving targets can be engaged with Hellfire.

To date some nine vessels have been disabled as a blockade is enforced against any vessels entering or leaving Iranian ports.

Donald Trump says that the US will strike Iran "very hard tonight" in a new post on Truth Social.

Here's what the president says:

"The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT

"At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America."

Since the beginning of the conflict, Trump has repeatedly threatened to seize Kharg Island, a small island off the coast of Iran that is home to a major oil terminal.

Image source, Truth Social

An 11-year-old girl was injured in an Iranian drone attack on Bahrain this morning, according to local authorities.

Iran's Islamic Revolutionary Guard Corps (IRGC) has confirmed it launched strikes against American bases in Bahrain, Kuwait and Jordan in response to US strikes in southern Iran.

Jordan says it shot down 20 Iranian missiles, while Kuwait's military says its military engaged "hostile aerial targets".

In Bahrain, which hosts a US naval base, homes and cars were damaged in an Iranian attack, authorities say.

Image source, Reuters

Image source, reut

Last confirmed location of Settebello 80 miles off Oman’s coastpublished at 13:02 BST

13:02 BST

By Shruti Menon

BBC Verify has been looking into what happened to the Settebello since reports it was attacked first emerged yesterday, before the US military confirmed it was responsible for the missile strike.

Settebello’s location tracker has been inactive since 31 May, data on ship-tracking website MarineTraffic shows, so it is not clear exactly where the vessel was when it was hit.

But we have seen the vessel in satellite imagery from 8 June in the Gulf of Oman, about 80 miles (120km) from port of Sohar in Oman.

India's shipping minister confirmed earlier that all three missing Indian crew members have been confirmed dead after their bodies were "located and identified".

Pakistan says it remains "deeply concerned" about the escalation of the conflict in the Middle East.

A foreign ministry spokesman says "diplomacy and dialogue should be the guiding principles" between the US and Iran, adding that Pakistan's Interior Minister Mohsin Naqvi held "important meetings" with senior leaders in Iran this week.

Meanwhile, India's foreign ministryhas described repeated attacks on commercial vessels as "deeply worrisome" and called for an immediate de-escalation of tensions and continued negotiations.

Russia has also called on the US and Iran to restart peace talks, warning that new strikes would harm the world economy.

China has also said it is "seriously concerned" by the recent escalation, with a military spokesperson telling Reuters that resorting to force "will only further aggravate tensions and military action cannot resolve the underlying issues".

Turkey's Foreign Minister Hakan Fidan called for the US and Iran to halt their renewed attacks and resume negotiations.

Saudi Arabia’s foreign ministry has also called for de-escalation and for fresh negotiations to be mediated by Pakistan and Qatar.

The US has confirmed it carried out a strike on Guinea-Bissau-flagged vessel Jalveer.

Central Command (Centcom) says the ship "violated the blockade" by attempting to transport Iranian oil through the Gulf of Oman.

It is the third vessel struck by US forces in the Gulf this week after attacks on the Marivex and Settebello vessels, according to Centcom.

Image source, US Centcom

India's ministry of external affairs has accused the US of striking a third ship carrying Indian sailors near the Shinas port of Oman this morning.

Jalveer, a Guinea-Bissau-flagged vessel, had 20 Indian sailors on board, all of whom are reportedly safe, according to India's shipping ministry, which says evacuation is still in progress.

In a press conference in New Dehli this morning, the ministry of external affairs said three separate strikes on the Settebello, Marivex and Jalveer vessels "came from the US Navy".

US Central Command (Centcom) has confirmed strikes on Settebello and Marivex but is yet to comment on reported strikes on Jalveer.

Ministers added that 13 Indian-flagged vessels and more than 18,000 Indian sailors remained stranded in the Gulf region, including 562 on Indian-flagged ships.

The US struck an Iranian cargo vessel carrying "essential goods" in the Gulf of Oman this morning, according to the governor of Sirik, who was quoted by Iran's semi-official state news agency Mehr news.

Five crew members were rescued after a projectile hit the vessel, which was reportedly struck as it departed from the city of Khasab, Oman, towards the Iranian city of Sirik.

The US has not commented on the reported strike.

The M/T Settebello was the eighth ship to be disabled by US forces since the start of its blockade of Iran's Gulf Coast, according to US Central Command (Centcom).

The US initiated its blockade of Iranian ports in the Strait of Hormuz on 13 April, and has been intercepting or turning back vessels travelling to or from Iran's coast.

Centcom says 134 ships have been redirected after complying with US forces, while eight non-compliant vessels - including the Palau-flagged Settebello - have been "disabled". The tanker was struck by US forces on Wednesday, resulting in the deaths of three Indian sailors.

It adds that US forces have allowed 42 humanitarian ships to pass through the waterway since the blockade began.

Meanwhile, Donald Trump also claimed on Wednesday that the US military had helped 200 commercial ships pass through the strait as part of a "secret mission".

Iran, however, insists the shipping channel is "completely closed".