Iranian state broadcaster hit as Iran urges Trump to make Israel halt war
By Alexander Cornwell, Parisa Hafezi and Jaidaa Taha
TEL AVIV/DUBAI (Reuters) -An Israeli strike hit Iran's state broadcaster on Monday as Iran called on U.S. President Donald Trump to force a ceasefire in the four-day-old aerial war, while Israel's prime minister said his country was on the "path to victory".
Israeli forces stepped up their bombardment of Iranian cities, while Iran proved capable of piercing Israeli air defences with one of its most successful volleys yet of retaliatory missile strikes.
"If President Trump is genuine about diplomacy and interested in stopping this war, next steps are consequential," Iran's Foreign Minister Abbas Araqchi said on X.
"Israel must halt its aggression, and absent a total cessation of military aggression against us, our responses will continue. It takes one phone call from Washington to muzzle someone like Netanyahu. That may pave the way for a return to diplomacy."
Sources told Reuters that Tehran had asked Qatar, Saudi Arabia and Oman to press Trump to use his influence on Israel to push for an immediate ceasefire. In return, Iran would show flexibility in nuclear negotiations, said the two Iranian and three regional sources.
Israeli Prime Minister Benjamin Netanyahu told troops at an air base that Israel was on its way to achieving its two main aims: wiping out Iran's nuclear programme and destroying its missiles.
"We are on the path to victory," he said. "We are telling the citizens of Tehran: 'Evacuate' — and we are taking action."
Late on Monday, Israel said it had hit Iran's broadcasting authority, and footage showed a newsreader hurrying from her seat as a blast struck. Iran's State News Agency also reported the strike.
Israel's defence minister said Israel had attacked the broadcaster after the evacuation of local residents.
Meanwhile, Iranian state media reported that Iran was preparing for the "largest and most intense missile attack" yet against Israel.
'DESPERATE'
Israel launched its air war on Friday with a surprise attack that killed nearly the entire top echelon of Iran's military commanders and its leading nuclear scientists. It says it now has control of Iranian airspace and intends to escalate the campaign in coming days.
Tehran's retaliation is the first time in decades of shadow war and proxy conflict that missiles fired from Iran have pierced Israeli defences in significant numbers and killed Israelis in their homes.
Iran says more than 224 Iranians have been killed, most of them civilians. Media published images of wounded children, women, and the elderly from cities across the country.
State TV broadcast scenes of collapsed presidential buildings, burned-out cars, and shattered streets in Tehran. Many residents were trying to flee the capital, describing queues for petrol and bank machines that were out of cash.
"I am desperate. My two children are scared and cannot sleep at night because of the sound of air defence and attacks, explosions. But we have nowhere to go. We hid under our dining table," Gholamreza Mohammadi, 48, a civil servant, told Reuters by phone from Tehran.
In Israel, 24 people have been killed so far in Iran's missile attacks, all of them civilians. Round-the-clock television images showed rescuers working in ruins of flattened homes.
"It's terrifying because it's so unknown," said Guydo Tetelbaum, 31, a chef in Tel Aviv who was in his apartment when the alerts came in shortly after 4 a.m. (0100 GMT). He tried to reach a shelter but his door was blown in.
Trump has consistently said the Israeli assault could end quickly if Iran agrees to U.S. demands that it accept strict curbs to its nuclear programme.
Talks between the United States and Iran, hosted by Oman, had been scheduled for Sunday but were scrapped, with Tehran saying it could not negotiate while under attack.
On Monday, Iranian lawmakers floated the idea of quitting the nuclear non-proliferation treaty, a move bound to be seen as a setback for any negotiations.
'TEHRAN WILL PAY THE PRICE'
Before dawn on Monday, Iranian missiles struck Tel Aviv and Haifa, killing at least eight people and destroying homes. Israeli authorities said seven of the missiles fired overnight had landed in Israel. At least 100 people were wounded.
Iran's Revolutionary Guards said the latest attack employed a new method that caused Israel's multi-layered defence systems to target each other so missiles could get through.
"The arrogant dictator of Tehran has become a cowardly murderer who targets the civilian home front in Israel to deter the IDF," Israeli Defence Minister Israel Katz said.
"The residents of Tehran will pay the price, and soon."
Global oil prices shot up on Friday at the prospect of conflict disrupting supplies from the Gulf. Prices eased on Monday, suggesting traders think exports could be spared despite Israeli attacks that hit domestic Iranian oil and gas targets.
The sudden killing of so many Iranian military commanders and the apparent loss of control of airspace could prove to be the biggest test of the stability of Iran's system of clerical rule since the 1979 Islamic Revolution.
Iran's network of regional allies who could once have been expected to rain rockets on Israel - Hamas in Gaza and Hezbollah in Lebanon - have been decimated by Israeli forces since the start of the Gaza war.
Netanyahu has said that, while toppling the Iranian government is not Israel's primary aim, it believes that could be the outcome.
Iran's currency has lost at least 10% of its value against the U.S. dollar since the start of Israel's attack.
Art teacher Arshia, 29, told Reuters his family was leaving Tehran for the town of Damavand, around 50 km (30 miles) to the east, until the conflict was over.
"My parents are scared. Every night there are attacks. No air raid sirens, and no shelters to go to. Why are we paying the price for the Islamic Republic's hostile policies?" said Arshia, who withheld his surname for fear of reprisal from authorities.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CNBC
7 minutes ago
- CNBC
U.S. Treasury yields fall as investors weigh state of Israel-Iran tensions
U.S. Treasury yields fell on Tuesday after U.S. President Donald Trump departed early from the Group of Seven summit, signaling an escalation in Israel-Iran tensions. The yield on the benchmark 10-year Treasury was over 2 basis points lower at 4.432% at 3.58 a.m. ET. The 2-year Treasury yield slipped 2 basis points to 3.95%. One basis point is equivalent to 0.01%. Bond yields and prices have an inverse relationship. Trump noted that his early exit from the summit was due to "much bigger" things than negotiating a ceasefire between Tel Aviv and Tehran, while calling on Iranians to "immediately evacuate Tehran." "Indeed, there have been no signs of de-escalation in the aerial war, with reports of explosions against in Tehran overnight, while Iran launched more missiles into Israel," Deutsche Bank wrote in a note published Tuesday. The Group of Seven summit concluded in Canada on Tuesday, with no joint communique expected at the end of the gathering. "There are still big questions as to whether Israel would be receptive to a ceasefire, given that it is seeking to destroy Iran's nuclear program," said Deutsche Bank's analysts. The conflict between Israel and Iran has yet to show any concrete signs of abating after Israel conducted military strikes on Iran last Friday. Both regional powers issued new evacuation orders as missiles continue to be launched at each other for a fourth straight day. Investors will also be keeping an eye out on May retail sales data coming out later in the day.
Yahoo
13 minutes ago
- Yahoo
Why It's So Hard to Challenge China's Rare Earths Dominance
A dump truck moves raw ore inside the pit at the Mountain Pass mine, operated by MP Materials, in Mountain Pass, Calif., on June 7, 2019. Credit - Joe Buglewicz—Bloomberg/Getty Images When, in December 1953, Dragnet became the first American television show to broadcast in color, few fans knew they had a dusty nook on the California-Nevada border to thank for bringing it to polychromatic life. But every early cathode-ray tube color television owed its screen's red hue to europium, a rare earth element excavated and processed exclusively at the Mountain Pass Mine in San Bernardino County. From the 1950s to the 1980s, Mountain Pass produced practically all known quantities of europium, as well as over 90% across the spectrum of rare earth minerals worldwide. Back then, of course, uses were limited: apart from europium adding vibrancy to L.A. cop procedurals, cerium was used as a glass polishing agent, while lanthanum was—and still is—crucial for oil cracking, or turning crude into gasoline and other lighter fuels. Today, however, the picture is very different. Rare earth materials are vital for myriad industries, from advanced weaponry to wind turbines and robotics. But far from the U.S. having a monopoly on production, now some 96% of rare earth minerals are sourced from China, propelling these arcane materials into center stage in the escalating trade war between the world's top two economies. In response to President Donald Trump imposing tariffs of 145% on Chinese goods, as well as curbing the sale of strategic U.S. technology including semiconductor chips, China hit back by restricting the export of rare earth elements. Auto manufacturers across the U.S., Japan, South Korea, Germany and India have warned the shortages may force factories to halt production. The spat prompted Trump to hit out at China for reneging on a nascent trade deal between the superpowers. Then, last week, Trump revealed a 'framework' struck in London that supposedly will ease U.S. access to China's rare earth minerals and magnets in exchange for setting tariffs on Chinese exports at 55% and a relaxing of curbs on Chinese students' access to U.S. colleges. 'Full magnets, and any necessary rare earths, will be supplied, up front, by China,' Trump posted on Truth Social. But reports from Washington suggest that the deal will expire in just six months, and with U.S.-China relations continuing to spiral, how America and its allies can break itself free of its Chinese rare earth dependency is a geopolitical priority. While it's a question with sweeping economic ramifications, it's also one with no easy answer. 'Everybody wants to just snap their fingers and start producing heavy rare earth elements,' says Mark Smith, CEO of rare earths firm NioCorp, who has worked in the industry for almost four decades. 'But it's a very long, hard process. And the longer we wait, the further China gets ahead.' China has bet on rare earths for a long time. Back in 1992, reformist leader Deng Xiaoping declared: 'The Middle East has oil, China has rare earths.' China accompanied this strategic focus with billions of dollars of investment in mines and processing facilities to monopolize the market. Just like countless strategic industries, China wielded huge state subsidies, and little concern for environmental or safety standards, to produce rare earths at a fraction of the cost of Western competitors. As a result, in 1998, Mountain Pass' separation plant ceased producing refined rare earth compounds. Four years later, a toxic waste spill led the mine to close altogether, and intense Chinese competition impelled the decision not to reopen. At the same time, uses of rare earths were just ramping up. Today, yttrium is used in lighting and flat screens; ytterbium in cancer treatments and earthquake monitoring; erbium in lasers and fiberoptic cables. But particularly important are permanent rare earth magnets, which account for a quarter of total rare earths consumption and are a vital component in actuators, or devices that turn a control signal into mechanical motion. These could be robot arms on assembly lines, the fins of a ballistic missile or stealth bomber, or any of the multiple motors of an electric vehicle. But it's not just EVs that rely on actuators and, by extension, permanent rare earth magnets. Conventional internal combustion engine vehicles are also heavily reliant on these materials. That is how, in 2010, China managed to bring Japan's auto industry to the brink of collapse by halting exports of rare earth materials amid a territorial spat in the East China Sea. In the following year, prices of rare earths soared by 10 times and the incident served as a wake-up call that was only partly heeded. Japan invested in alternative sources, particularly in Australia, though remains heavily dependent on Chinese supplies. That September, the U.S. House passed the Rare Earths and Critical Materials Revitalization Act to subsidize the revival of the American rare earths industry, including reopening Mountain Pass, which resumed production in 2012 only to fall into bankruptcy three years later. Today, under the new ownership of MP Materials, it remains the only functioning American rare earth mine. Crucially, however, not all rare earths are created equal. What are termed rare earths are in fact a 'basket' of 17 elements with overlapping but ultimately unique properties. Regarding permanent rare earth magnets for actuators, the most common element is neodymium, which can be sourced from Mountain Pass. The problem is that for actuators to work at high temperatures—like those found under a car's hood—the neodymium needs to be mixed with either dysprosium or terbium, distinct rare earth minerals which are not significantly present in the Mountain Pass ore body. In fact, China controls practically 100% of global supply of dysprosium and terbium and added both to export controls on April 4. Tellingly, Beijing didn't bother restricting sales of neodymium, cognizant of alternative sources—and the fact they are largely useless without their heat-resistant siblings. So where can American firms source dysprosium and terbium—and fast? At the Lynas rare earth mine in Mount Weld, Western Australia, yellow diggers scoop the tawny earth and dump it into soot-stained trucks. Following on-site concentration, the semi-refined ore is then taken on a four-hour drive to processing facilities in nearby Kalgoorlie, or loaded on ships to Malaysia, where in the seaside town of Kuantan Lynas operates the world's largest rare earth processing plant. Crucially, in May the Kuantan plant produced its first batch of dysprosium and is expecting its first terbium this month. 'This is an exciting achievement for Lynas and for manufacturers keen to secure a resilient supply of separated rare earths products,' Amanda Lacaze, CEO and managing director of Lynas Rare Earths, tells TIME. 'We have stated our intention to meet the needs of the U.S. Defense Industrial Base on a priority basis.' It's a great start, but given the insatiable global appetite for rare earths, many more sources will ultimately be needed. And other options are years from fruition. It was with great fanfare that Trump signed a deal with Ukraine in March that ostensibly handed half the war-torn nation's future oil, gas, and mineral wealth—including rare earths—to the U.S. The only problem is that Ukraine may have abundant reserves of lithium and titanium, but it doesn't actually have rare earths in any sizable deposits worthy of exploitation. What about Greenland? Trump has repeatedly touted buying or even invading the semi-autonomous Danish province, citing its mineral wealth. In March, Vice President J.D. Vance led a U.S. delegation including National Security Adviser Michael Waltz and Energy Secretary Chris Wright to Greenland. But while Greenland does boast 18% of the world's total rare earth reserves, accessing them is extremely problematic, owing to freezing temperatures and a thick layer of silica. Chinese, American, and European prospectors have spent decades trying to figure out how to extract these resources without any success. Today, Greenland has no functioning rare earth mines. Other options are more feasible. Brazil has the world's third largest reserves of rare earths and is aggressively exploring this space, while Saudi Arabia also boasts significant deposits and signed a cooperation agreement with the U.S. on critical minerals during Trump's visit in May. MP Materials and Saudi Arabia's national mining company, Maaden, also signed a MoU to collaborate on establishing a rare earth supply chain in the Gulf state. Meanwhile, Japan's state-owned energy firm JOGMEC and gas firm Iwatani have unveiled plans to invest up to $120 million in a French rare earths refining project. And with Africa boasting four of the top 10 nations for rare earth exploration last year—namely South Africa, Namibia, Uganda, and Malawi—the continent stands to play a huge role in future supply chains. But there are also options closer to home. Other than Mountain Pass, Lynas has secured $258 million from the U.S. Department of Defense to build a heavy rare earth refinement facility in Seadrift, Texas. 'The U.S. facility has been designed with the capability to process feedstock from other sources as and when they become available and are qualified,' says Lacaze. Meanwhile, NioCorp has the permits to build a rare earth processing facility at its Elk Creek Mine in Nebraska and is currently waiting on a $780 million financing agreement with the U.S. Export–Import Bank for the $1.2 billion project, which will take around three years to get online. Smith, the NioCorp CEO, says he is currently 2.5 steps through a four-step approval process, which if greenlighted will provide up to 1,500 jobs during construction followed by a 450-strong full-time crew. Although Smith predicts Elk Creek could service all Department of Defense dysprosium and terbium needs, he's under no illusions about the scale of the challenge. 'One thing absolutely for sure is that NioCorp, by itself, is not the whole answer to the problem,' he says. 'So we're rooting for anybody to be an additional part of the solution. We need to put all the parts together to really be formidable against China.' Unfortunately, simply seeding projects in friendly countries doesn't solve the problem. For one, China controls the separation and refining equipment market and placed export controls on those technologies in December 2023. Today, the rare earth refining industry is scrambling to reverse engineer Chinese technologies or innovate entirely new ones. There is also the matter of expertise. Refining rare earths is 'a whole new art unto itself,' says Smith. Heavy rare earth elements are extremely close to each other in terms of their atomic weights, making the process to separate each from the other at sufficient purity levels for commercial or military applications extremely taxing. 'There's chemical engineering involved, there's physics, there's kinetics,' says Smith. 'It takes a whole bunch of knowhow, practice, and art to get heavy rare earths into their final purified oxide form. As well as a big investment.' The cash injections needed keep on growing. Lynas's Texas project, for one, is currently stalled as the firm seeks more government funding on top of the nine figures already pledged. 'Following design changes to accommodate local permitting, additional CAPEX will be required, and Lynas is in discussion with the U.S. government with respect to this funding,' says Lacaze. But even if all these new rare earth projects are realized across the globe, challenging Chinese dominance must still overcome its toughest obstacle: price. China has spent decades building out massive capacity for rare earth minerals, so all other competitors operate at a huge disadvantage. 'The inside China price is used by outside China customers as a benchmark,' says Lacaze. 'We have not observed any intent from the majority of non-Chinese consumers to pay a significant premium to the inside China price.' Moreover, China's massive processing capacity means it just opens the spigot whenever a potential competitor emerges to price them out of the market. The Chinese state has no problem eating any short-term losses to maintain key strategic levers over the global economy. It's a similar dynamic for many different minerals, including cobalt, nickel, and titanium. Today, neodymium oxide costs less than $60 per kilogram—around half its 2023 cost—and is forecast to get even cheaper. 'One of the biggest challenges we face is that rare earth prices are very low,' says Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies. 'And a lot of that has been achieved through market manipulation by China increasing and increasing production.' The cost issue looks frankly impossible to solve. Other than technical challenges, refining rare earth minerals uses a huge amount of water. Back when China was first ramping up its rare earth industry, wastewater was just discharged into the nearest river, although environmental standards have tightened considerably in recent years. In the U.S. or other developed economies, wastewater must be evaporated in huge kilns to isolate and dispose of pollutants—though this is a very energy intensive and thus costly process. 'And it's not something that China has to do,' shrugs Smith. So, the big question is how American—or Saudi or African—rare earths can survive in such a cost-competitive marketplace. Various mechanisms have been considered: One is a Contract for Difference model, which is common in agriculture and says that if prices fall below a certain point the government will pay the difference. Another option is having the government serve as an Offtaker of Last Resort, agreeing to buy minerals at a certain price if nobody wants them on the open market. However, 'in the U.S., at least in an era of DOGE, putting in an indefinite OPEX subsidy is quite politically unpalatable,' says Baskaran. 'But it is what China will do, so how do we compete against a country that's willing to inject fiscal support at any part of the supply chain to retain their dominance?' Another potential solution is one very close to Trump's heart: tariffs. By hiking levies on Chinese rare earths, the U.S. could strongarm firms to source from preferred friendly nations. But this essentially shifts the cost burden from government to businesses, undermining their global competitiveness with unknown ramifications down the line. For Smith, tariffs are merely a stop-gap solution. 'The answer cannot be for President Trump to issue a tariff,' he says. 'We need to be competitive with or without tariffs by increasing our technology, improving our processes, using more robotics. But we must have a legitimate business at the end of the day.' Write to Charlie Campbell at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Trump Plays Down Iran-Israel Ceasefire as He Leaves G-7 Early
(Bloomberg) -- US President Donald Trump left the Group of Seven leaders meeting in Canada early to deal with the Israel-Iran conflict, but played down the chances of a ceasefire. As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space Security Concerns Hit Some of the World's 'Most Livable Cities' As American Architects Gather in Boston, Retrofits Are All the Rage How E-Scooters Conquered (Most of) Europe On Tuesday morning, he returned to Washington and criticized French President Emmanuel Macron for saying the move was possibly a sign he was working on a truce. 'Wrong!,' Trump said in reference to Macron on Truth Social. 'He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire. Much bigger than that. Stay Tuned!' Trump hasn't clearly spelled out his next steps as he returns to the US capital. Israel and Iran continue to strike on one another. While global markets have calmed since hostilities started on Friday with Israel bombing Iran, there are still widespread fears the war will spread to other countries in the oil- and gas-producing region. Despite Trump's latest comments, top US officials said the president remains hopeful a peace deal can be achieved between Israel and Iran. The diplomatic flurry followed another 24 hours of intense bombardments, with Iran firing ballistic missiles and Israel striking targets across the Islamic Republic, including the capital of Tehran. The USS Nimitz aircraft carrier strike group is now sailing to the Middle East ahead of schedule, marking the first significant move of American military assets to the region since Friday. 'Iran should have signed the 'deal' I told them to sign,' Trump wrote in an earlier social media post, referring to nuclear talks between Tehran and Washington that are now on hold. 'What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!' It wasn't clear if Trump knew of a fresh round of attacks Israel may have planned for the city, which has a population of more than 9 million. Israel earlier warned residents of one Tehran neighborhood to evacuate and social media videos showed traffic jams as people sought to leave. Soon after Trump's post, Iran's Fars news agency reported several explosions east of the city. The American president kept his options open. As well as urging Iran to accept a deal that restricts its nuclear activities in return for sanctions relief, he has maintained a vague stance on whether the US might intervene in the war offensively. For now, the US says its only helping Israel defend against Iran's missile and drone salvos. Steve Witkoff, Trump's top Middle East envoy, who headed five rounds of talks with the Islamic Republic on its atomic program until Israeli strikes last week, might meet Iranian Foreign Minister Abbas Araghchi later this week, Axios reported on Tuesday, citing unnamed US officials. 'They want to make a deal, and as soon as I leave here, we're going to be doing something,' Trump told reporters in Canada on Monday, without providing details. Open Conflict Long-standing tensions between Iran and Israel erupted into open fighting last week, when Israel launched surprise attacks on Iranian military and nuclear sites and killed senior commanders and atomic scientists. Since then, its achieved air superiority over much of Iran, allowing it to bomb major cities and infrastructure frequently. For Iran's government, the showdown poses a strategic dilemma. It can't risk appearing weak, yet its retaliatory options are shrinking. And proxy forces it supports across the region have been largely degraded by Israeli wars against them since October 2023. More than 200 people have been killed in Iran by Israel's strikes, according to the last official tally from the Iranian government. In Israel, the government says 24 people have been killed and around 400 injured. Israel has signaled it wants to continue its campaign for now as it looks to set back or destroy Iran's nuclear program. While Iran insists it has no plans to build an atomic bomb, it is enriching uranium far beyond the levels need for civilian purposes, such as fueling nuclear power plants. 'They want to stop and continue producing the weapons of death, both the nuclear weapons that threaten our existence and the ballistic missiles,' Israeli Prime Minister Benjamin Netanyahu said on Monday. 'But we are committed to destroying these two threats.' 'If that can be achieved in another way, please — but we gave it a chance,' he added. In a telephone call with Turkish President Recep Tayyip Erdogan on Monday, Iran's President Masoud Pezeshkian said that his country will respond to Israel's ongoing strikes with proportional retaliation. 'We do not seek to escalate the conflict, but we will respond to any attack on Iranian soil in a manner that will make them regret it,' Pezeshkian said. Israel's airstrikes have managed to deliver a blow to Iran's nuclear program, with the United Nations' atomic watchdog reporting damage at various sites including Natanz, a key uranium-enrichment facility. But military experts say Israel needs US assistance to destroy Natanz and Fordow, another atomic site that's buried deep below ground. Alex Pfeiffer, a White House spokesperson, on Monday denied claims on social media that the US would join Israel in its military offensive against Iran. 'American forces are maintaining their defensive posture, and that has not changed,' he said in a post to X. Oil was steady in early trading on Tuesday, with Brent rising 0.4% to $73.54 a barrel as of 6:12 a.m. in London. It's up about 6% since the conflict started. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros American Mid: Hampton Inn's Good-Enough Formula for World Domination How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants The Spying Scandal Rocking the World of HR Software US Allies and Adversaries Are Dodging Trump's Tariff Threats ©2025 Bloomberg L.P. Sign in to access your portfolio