• Space opens for diplomacy:There has been a lull in fighting after escalating strikes threatened the US-Iran agreement. Mediators are trying to bring the two back to the table, while an American official told CNN the US was deliberately striking and then pausing to avoid escalation and let diplomacy work
• No sign of new leader:Iran’s slain supreme leader Ali Khamenei was buried in his hometown Mashhad early Friday local time. His son and successor Mojtaba Khamenei did not appear publicly at all during the funeral. CNN’s Fred Pleitgen was in Tehran as the final funeral events took place
• Assassination plot:Israel shared intelligence with the US that Tehran has devised a new plan to assassinate President Donald Trump
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Since its inception in 1979, the Islamic Republic has been a system built around the centrality of one man: the Supreme Leader
The first person to hold the position, Ruhollah Khomeini was a larger-than-life figure who came to power off the back of a coalition of Islamist and leftist revolutionaries
His successor, Ali Khamenei, didn’t have the same religious credentials but was steeped in the power structure of the young republic, having been president and overseeing the war with Iraq
In the 37 years that he ruled as supreme leader, not a week went by that he didn’t address crowds or meet state officials or foreign delegations
He was ever-present with his pronouncements on all matters of Iranian life and deeply involved in building out the political and economic power networks that has kept the regime in power even when he, as its top leader, was assassinated.But now, the Islamic Republic has entered a new phase, one in which the top of the pyramid is nowhere to be seen or even heard
Mojtaba Khamenei’s no-show at his father’s funeral might be down to legitimate security concerns the regime has about his safety but it will undoubtedly feed into the wider question regime supporters and opponents have been asking every day for the past four months: who is really calling the shots?
At some point, one would assume, the millions of faithful who took to the streets this week will need to actually see the leader whose authority is supposed to permeate through the system
The longer he remains in absentia the looser his grasp will be as the system his father built was so tightly connected to the top that without it, it risks unravelling and perhaps ushering a new form of governance in Iran
When Tehran blockaded the Strait of Hormuz in response to strikes by the United States and Israel on February 28, the Lloyd’s market sprang into action. Overnight, the risks of transiting the strait skyrocketed, and insurance premiums needed to reflect that. War insurance policies were swiftly cancelled to be reinstated at much higher prices
Insurance underwriters are once again scrutinizing prices and “individual risk factors” following renewed strikes across the Middle East this week, said David Smith, head of marine at London broker McGill and Partners
In the immediate aftermath of the US-Israeli strikes, rates for ships passing through the strait soared to as high as 10% of a vessel’s value from roughly 0.25%-0.5% before the war the global head of marine and cargo for insurance broker Marsh
On an oil tanker worth $100 million, “that’s a $10 million voyage,” he noted. Hull war rates, which cover a ship’s physical structure against damage or loss caused by conflict, have since pulled back to 1-3% of a ship’s value
At the same time, some underwriters are offering “no-claims bonuses,” returning half the premium to ship owners if their vessels sail through the strait without incident, Baker told CNN
The Hormuz crisis is a high-stakes affair for insurers. War insurance premiums will “track exactly what is happening geopolitically… almost on an hourly basis,” said Smith of McGill and Partners
Underwriters insuring ships wishing to transit Hormuz want to price the policy just six hours ahead of the voyage, down from the usual 24-48 hours policies are valid for just three to seven days before needing to be renegotiated
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Thousands of people gather to participate in the funeral ceremony for the late Iranian Supreme Leader Ali Khamenei in Mashhad, Iran on July 9.
Diplomacy is happening behind the scenes to ease tensions with Iran, a US official told CNN, afterexchanges of fire in the past several days derailed the ceasefire between Tehran and Washington
Pakistan and Qatar are also working to bring the two countries back to the negotiating table, regional
Meanwhile, Iran’s slain Supreme Leader Ayatollah Ali Khamenei has been buriedfollowing days of funeral proceedings, where one figure was noticeably absent: Khamenei’s son and new Supreme Leader Mojtaba Khamenei
If you’re just joining us, here’s the latest:
- US strategy:The US has been deliberately striking and then pausing to avoid escalation and let diplomacy work, the official said. It is maintaining a target list as leverage. Earlier on Thursday, crews aboard the USS Abraham Lincoln were preparing for any potential strikes.
- Iran alleges attacks:Iran’s state-run media has claimed military sitesin two cities were targeted by several strikes on Thursday evening. But a US official told CNN the US military is not currently conducting strikes, while Israeli officials said they were “not familiar with Israeli involvement in strikes in Iran now.”
- Nuclear discussions continue:The US and Iran are continuing to engage in technical negotiations on nuclear issues with an eye to a diplomatic solution, a US official said.
- Plot against Trump’s life:Israel shared intelligence with the US that Iran had recently devised a new plan to assassinate President Donald Trump, two sources familiar with the matter told CNN.
- Trump-Netanyahu call: Trump and Israeli Prime Minister Benjamin Netanyahu held a phone call on Thursday evening, “during which they agreed to continue coordination between their countries on the various fronts,” according to a readout from the Israeli prime minister’s office.
- Hormuz traffic stalls:Traffic in the Strait of Hormuz dramatically dropped off again this week following strikes on several commercial vessels. Traffic had increased during the ceasefire when negotiations between the US and Iran were ongoing.
- Fighting in Lebanon:Separately, Lebanese President Joseph Aoun tied his country’s continued participation in talks with Israel to the beginning of a military withdrawal from occupied areas of southern Lebanon, according to a diplomatic source familiar with the matter.
CNN’s Pamela Brown, Mostafa Salem, Sophia Saifi, Lauren Kent, Helen Regan, Mohammed Tawfeeq, Dana Karni, Avery Schmitz, Charbel Mallo and Aida Karimi contributed reporting
The coffin of slain Iranian Supreme Leader Ali Khamenei is carried through the Imam Reza shrine in Mashhad before a private burial.
Iran’s late Supreme Leader Ayatollah Ali Khamenei was buried early Friday morning local time, according to a statement posted on his official X account
The burial took place at the Imam Reza shrine in the city of Mashhad, where Khamenei was born. Khamenei’s family attended the private ceremony, which came after a dayslong public funeral attended by waves of mourners
New Supreme Leader Mojtaba Khamenei has not been seen in public during the funeral events
From left, US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu.
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu held a phone call on Thursday evening, “during which they agreed to continue coordination between their countries on the various fronts,” according to a readout from the Israeli prime minister’s office
“President Trump updated the Prime Minister on the American moves in the Gulf,” the readout from Netanyahu’s office said
For context:The leader of Turkey, which just hosted the NATO leaders summit in the capital Ankara, has repeatedly accused Israel of undermining the Memorandum of Understanding agreement between the US and Iran. Also this week, Israel expressed concerns over the potential sale of advanced F-35 stealth fighter jets to Turkey, which Trump had floated during the NATO summit
In an exclusive interview with CNN, Netanyahu said Erdoğan is “not exactly a model ally of the United States.” Netanyahu also claimed that Erdoğan “threatens to destroy my country, the one and only Jewish state.”
Diplomacy is happening behind the scenes to ease tensions in the US-Iran conflict, according to a US official
The US has been deliberately striking and then pausing to avoid escalation and let diplomacy work, the official said. It is maintaining a target list as leverage
Multiple officials told CNN Thursday there were preparations for potential US strikes if needed, but they are currently letting diplomacy take the lead
On the USS Abraham Lincoln stationed in the Arabian Sea on Thursday,crews loaded up fighter jets with armaments and pilots practiced drills in preparation for any potential strikes
Fighter jets take off from USS Abraham Lincoln for routine mission
CNN’s Pamela Brown reports aboard the USS Abraham Lincoln, where pilots are preparing for anything as they experience their busiest day yet amid potential strikes. CNN exclusively captured US fighter jets taking off from the USS Abraham Lincoln to carry out a routine night-time mission over the Strait of Hormuz
2:04• Source:
CNN
Fighter jets take off from USS Abraham Lincoln for routine mission
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US officials said the most recent Iranian claims that there had already been more US strikes on Thursday were inaccurate. However, the situation is dynamic and strikes could resume if needed, they added
