Iran's chief negotiator has stated that the US must accept Tehran's latest peace plan or face failure. This comes after US President Donald Trump warned of a potential collapse in the Middle East truce. The conflict, which began with US-Israeli strikes on Iran, has spread throughout the region and affected the global economy. Both sides have refused to make concessions, but neither seems ready for a full-scale war. Iran's negotiator, Mohammad Bagher Ghalibaf, emphasized the need to accept Iran's 14-point proposal. The Pentagon reported that the war's cost has reached nearly $29 billion. Iran's proposal responds to an earlier US plan. Iran's foreign ministry wants the war to end on all fronts, the US naval blockade lifted, and Iranian assets unfrozen. Trump called Iran's response 'unacceptable'. Iran's Revolutionary Guards conducted drills in Tehran. On the ground, uncertainty prevails, with many Iranians expressing concerns. The war of words has led to a spike in oil prices. Iran is restricting maritime traffic in the Strait of Hormuz. US intelligence suggests Iran has substantial missile capabilities. Qatar's foreign minister stated that Iran should not use the strait as a weapon. Australia will join a defensive mission led by France and Britain. Deadly Israeli strikes continue in southern Lebanon. Hezbollah's chief vowed not to surrender.