Trump says shutdown 'would be a terrible thing'

Speaking at a Women's History Month event at the White House, the US president said he had been fully briefed on the situation and described the incident as "terrible."

In a post by the White House, President Trump, while acknowledging that the United States is currently the world's leading oil producer and stands to benefit financially from higher crude prices, emphasised that his administration's overriding mission remains the permanent dismantling of Iran's nuclear program.

"We reject this statement made by Pakistan on the matter. India's credentials regarding non-proliferation are impeccable and well recognised by the global community. A country with a well-documented history of clandestine nuclear proliferation can hardly preach the virtues of export controls and proliferation risks. Such ludicrous statements are nothing more than an attempt by Pakistan to distract from its own abysmal record," he said.

An Indian crew member was killed after the US-owned tanker Safesea Vishnu was attacked near Basra, Iraq, on March 11. The Indian Embassy in Baghdad confirmed that 15 other Indian sailors were successfully evacuated and are receiving assistance as regional maritime tensions continue to escalate.

Two oil tankers caught fire near Iraq after being struck by an "unknown projectile," with UKMTO reporting all crew are "evacuated and safe." This follows a surge in maritime attacks amid regional conflict, drawing a sharp response from India and warnings from President Trump regarding the Strait of Hormuz.

The Trump administration has launched "unfair trade practice" probes into 16 nations, including India and China, to reinstate tariff pressure. US Trade Representative Jamieson Greer stated the "investigations will focus on economies" with "structural excess capacity." Additional probes into forced labour could lead to new tariffs by July.

The US will release 172 million barrels of oil "beginning next week" to stabilse markets amid war with Iran. President Trump vowed to "finish the job" despite Tehran's threats to "destroy" the economy. While Trump suggests there is "practically nothing left to target," Israel claims it has "a broad bank of targets."

Saudi Arabia intercepted multiple drones targeting the "Shaybah oil field" as regional tensions soar. Amid the conflict, Russia and Saudi Arabia "emphasised the need" for international efforts to prevent escalation. Meanwhile, the US warned Russia not to intervene, despite Trump and Putin discussing "opportunity for some peace" in Ukraine.

"Over the past 11 days, our military has virtually destroyed Iran. Tough country," Trump said. Describing the Persian Gulf country as "tough", he asserted that its core military systems had been "virtually destroyed".

He said that Iran was paying a big price for inflicting 47 years' worth of damage to the world.