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Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

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PoliticsIran

Shaky Iran war ceasefire tested again as drone hits cargo ship off Qatar coast while Kuwait and UAE repel drone attacks

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Jon Gambrell
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Samy Magdy
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The Associated Press
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By
Jon Gambrell
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Samy Magdy
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May 10, 2026, 10:12 AM ET
The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz.
The Ateela 2 Oil Tanker boat navigates the sea on April 28, 2026 on Qeshm Island, Iran in the Strait of Hormuz.Asghar Besharati/Getty Images

The shaky ceasefire in the Iran war was tested again on Sunday when a drone set a small fire on a ship off the coast of Qatar, while the United Arab Emirates and Kuwait reported separate drones entering their airspaces.

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The UAE blamed Iran for the latest attack, the latest threat to a month-old ceasefire, which the Trump administration says remains in effect.

There were no casualties reported, and no one immediately claimed responsibility.

Iran and its armed allied groups possess a large fleet of drones and have used them to carry out hundreds of strikes since the war began. The events marked the latest threats to a month-old ceasefire, which the Trump administration says remains in effect.

The pause in fighting has faced difficulties, with Iran restricting traffic through the Strait of Hormuz, a strategic waterway key to the global flow of oil, and the U.S. imposing a blockade of Iranian ports.

Washington has been awaiting Iran’s response to a new proposal for a deal to end the war, reopen the strait to shipping and roll back Iran’s nuclear program. U.S. President Donald Trump has reiterated threats to resume full-scale bombing if Iran doesn’t accept an agreement to reopen the strait and roll back its nuclear program. Iran has mostly blocked the waterway since joint strikes on Feb. 28 by the U.S. and Israel launched the war, which has caused a global spike in fuel prices and rattled world markets.

One of the main sticking points in the negotiations is the fate of Iran’s stockpile of highly enriched uranium. The U.N. nuclear agency says Iran has more than 440 kilograms (970 pounds) of uranium that is enriched up to 60% purity, a short, technical step from weapons-grade levels.

In an interview with Iranian state media, a spokesman for the Iranian military said that forces were on “full readiness” to protect nuclear sites where the uranium is stored.

“We considered it possible that they might intend to steal it through infiltration operations or heliborne operations,” Brig. Gen. Akrami Nia told the IRNA news agency late Saturday. He didn’t offer further details.

The majority of Iran’s highly enriched uranium is likely still at its Isfahan nuclear complex, International Atomic Energy Agency Director-General Rafael Mariano Grossi told The Associated Press last month.

The Isfahan facility was bombarded by U.S.-Israeli airstrikes in the 12-day war last year, and faced less intense attacks in this year’s war.

Drone attacks target Gulf Arab nations

The UAE’s Defense Ministry said Sunday it shot down two drones, blaming the attack on Iran.

In Kuwait, Defense Ministry spokesman Brig. Gen. Saud Abdulaziz Al Otaibi said that hostile drones entered Kuwait’s airspace early Sunday, and that forces responded “in accordance with established procedures.” The ministry didn’t say where the drones originated from.

Meanwhile, Qatar’s defense ministry said that a drone targeted a commercial ship coming from Abu Dhabi into a southern port, setting a small fire that was extinguished. The United Kingdom Maritime Trade Operations Centre said that the attack happened 23 nautical miles (43 kilometers) northeast of Qatar’s capital, Doha. It provided no details about the ship’s owner or origin, and there was no claim of responsibility.

There have been several attacks against ships in the Persian Gulf over the past week. On Friday, the U.S. struck two Iranian oil tankers after it said that the vessels were trying to breach its blockade of Iran’s ports.

Iran’s Revolutionary Guard navy on Sunday reiterated its warning that any attack on Iranian oil tankers or commercial vessels would be met with a “heavy assault” on one of the U.S. bases in the region and enemy ships.

Pakistan is continuing to mediate during the ceasefire. Pakistani Prime Minister Shehbaz Sharif said Sunday that he received a call from his Qatari counterpart, Sheikh Mohammed bin Abdulrahman Al Thani, during which the two leaders discussed the evolving regional situation and reviewed ongoing peace efforts.

Sharif wrote on X that the countries shared “brotherly bonds” and said that he looked forward to an upcoming Qatari visit to Pakistan.

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