US Drops Sanctions 

The US said on Thursday it had removed sanctions on three former Iranian officials and two companies that previously traded Iranian petrochemicals. The US official said the moves by the US Treasury's Office of Foreign Assets Control were unrelated to efforts to revive the 2015 Iran nuclear deal.

Gulf Engages with Iran 

KSA and the UAE resigned to the revival of a nuclear pact with Iran. The countries are engaging with Iran to contain tensions while seeking for future talks to take their security concerns into account. Instead of waiting for the outcome of the nuclear deal talks, Riyadh accepted in April to host talks between Saudi and Iranian officials, two sources said.

"Breath of Fresh Air" 

US President Joe Biden and British Prime Minister Boris Johnson met for the first time on Thursday ahead of the G7 summit. About the talks with Biden, Johnson said: "It’s a big breath of fresh air," adding it was a long, good session in which they covered a huge range of subjects.

US Budget Deficit Record High 

The US Treasury Department said the US government posted a March budget deficit of $660 billion as direct payments to Americans under President Joe Biden’s stimulus package were distributed. The March 2021 deficit was the third highest US monthly deficit on record.