US-Iran war LIVE: Tehran introduces bill to manage Strait of Hormuz security; explosions heard in Bahrain

Iran war news LIVE: US President Donald Trump has now backed away from his plan to impose a 20% charge on cargo shipments passing through the contentious Strait of Hormuz. Trump said that the revenue expected would be replaced by forthcoming direct investments in the US from Gulf states. “I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump wrote in a post on social media. “Those Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future.”Amid renewed military conflict in West Asia, the European Union Aviation Safety Agency has issued an advisory, warning airlines to not operate flights over the airspace of Gulf countries, including Kuwait, Bahrain, Qatar, UAE and over waters of Gulf of Oman.Fresh strikes were reported in Iran's Bushehr, with IRNA reporting that US projectiles had struck four areas in the city. Meanwhile, a vessel, identified as ‘Stolt Magnesium’, suffered an explosion from an external device off the coast of Oman, following which a fire broke out in its engine room, Reuters news agency cited Stolt Tankers as saying.The United States has attacked Iran again and targeted multiple locations. In response, Iran said its forces targeted US military bases in Kuwait and hit a "hostile vessel of the American enemy".US Central Command (CENTCOM) said it completed its latest wave of strikes against Iran at 7:45 am IST on July 14. During the five-hour mission, US forces struck military targets in Bushehr, Chabahar, Jask, Konarak, Abu Musa and Bandar Abbas. Iran's Islamic Revolutionary Guard Corps (IRGC) claimed it carried out missile and drone strikes on US military facilities at Bahrain's Al Juffair base.US President Donald Trump announced that the US would establish a blockade on Iranian ports. Trump also said that the US would secure the Strait of Hormuz and implement a 20% transit fee on vessels navigating the waterway.Indian seafarer killedAn Indian crew member was killed and eight others were injured after two UAE oil tankers were hit by Iranian cruise missiles in Omani waters in the Strait of Hormuz, according to the UAE's defence ministry.Two killed in IranThe US strike on a military base in Nain killed at least one person and injured seven others, Iranian media reported. The deputy governor of Isfahan province said that the wounded are undergoing medical treatment. These latest figures raise the reported death toll from recent US strikes in Iran to at least two.Iranian foreign ministry spokesperson, Esmail Baghaei, announced that Iran would suspend its commitments under its memorandum of understanding with the US until Washington fulfilled its obligations under the accord.