News and politics live updates: US-Iran peace pact opens door to oil exports as Strait of Hormuz stabilises

Tim Wilson has taken a swipe at Barnaby Joyce following reports the former deputy prime minister is set to become One Nation’s treasury spokesman, questioning whether he is the right person to take on the economic portfolio.

Asked about the mooted appointment, the Opposition Treasury spokesman referenced Mr Joyce’s widely publicised 2024 incident in Canberra.

“It depends on whether he’s flat out on a Braddon pavement or not. But, you know, he’s entitled,” Mr Wilson said.

He later downplayed the significance of the role, saying minor parties regularly appoint portfolio spokespeople.

“The Greens have spokespeople. Of course, Barnaby has his own form of bluster. My focus is on how we make sure we build out a future economy for Australians where Australians feel like hard work pays off.”

The Australian has reported Mr Joyce is expected to take on the treasury brief for One Nation, drawing on his experience serving on the expenditure review committee during the Morrison government.

US law enforcement officials disrupted a planned attack targeting the UFC cage-fighting show staged at the White House this past weekend, according to newly unsealed court papers.

They alleged plotters disgruntled with the direction of the country spoke of flying explosives-laden drones at the site and shooting panicked crowd members as they fled.

The FBI obtained encrypted text messages between roughly 20 participants who shared detailed maps of the area and discussed the need for a “safe house” and escape routes after the attack, the documents show.

It was unclear from the court records how close the would-be attackers came to being able to carry out their plan, which was thwarted last week.

FBI agents learned about the possible threat on June 10, four days before the mixed martial arts extravaganza on the White House’s South Lawn, “and thanks to the rapid action of the FBI, our partners, and the Department of Justice in a multi-state operation, multiple individuals are now in custody and allegedly planned attacks were stopped cold,” director Kash Patel said in a post on X on Tuesday.

US President Donald Trump has publicly urged Israel to let Syria take the lead against Hezbollah, arguing the country’s new leadership could be more effective than the Israeli military in dealing with the Iran-backed group.

Speaking to reporters at the G7 summit, the President praised Syrian leader Ahmed Al-Sharaa while taking a swipe at Israel’s handling of the conflict.

Mr Trump said “the man that’s running Syria now” is “very good with Hezbollah,” compared with Benjamin Netanyahu who he said “can’t do the job without killing everyone.”

He revealed he had advised Israel to step back and allow Damascus to take control of operations against Hezbollah.

“He’s not a Boy Scout, but he’s done an amazing job of pulling it together, and he is very good with Hezbollah. Does not like them,” Mr Trump said.

“I suggested to Israel to let Syria take care of Hezbollah, because to be honest with you, I think they do a better job of doing it.”

He also criticised Israel’s military tactics, adding: “You don’t have to knock down an apartment house every time you’re looking for somebody, because there are a lot of people in those apartment houses, and they’re not all Hezbollah. Too many people are being killed.”

Iran is set to receive an immediate economic boost under the US-brokered peace agreement, with sanctions waivers allowing Tehran to resume oil and fuel exports as part of efforts to cement the ceasefire and ease tensions across the region.

The relief measures, expected to take effect as the agreement is formalised this week, will allow Iran to sell oil and access key services including banking, shipping and insurance needed to facilitate exports.

Signs the deal is already having an impact emerged on Tuesday when two Iranian supertankers reportedly crossed the US blockade and departed the Gulf of Oman carrying crude oil.

While Washington is offering upfront relief on energy exports, US officials have indicated any long-term sanctions easing will depend on Iran’s compliance with conditions surrounding the Strait of Hormuz and its nuclear program.

The broader agreement includes an extended pause in hostilities, the lifting of maritime blockades and a framework for further negotiations over Tehran’s nuclear activities.