Iran says it's offered a new proposal for talks with the U.S. to end the war, as the Strait of Hormuz standoff sends costs soaring around the world.

A U.S.-Iran ceasefire that began in early April has "terminated" hostilities between the two sides for the purposes ​of an approaching congressional war powers deadline, a senior official of President Donald Trump's ‌administration said on Thursday.

The United ⁠States' war in ​Iran has cost $25 ‌billion so far, ‌a ⁠senior ⁠Pentagon official said on Wednesday, providing ​the first official estimate of war ​costs. Jules Hurst, who is ⁠performing ⁠the duties ⁠of the ​comptroller,

Tehran passed its latest proposal to end its war with the US to Washington through mediators on Thursday, Iranian sources and state media said Friday. “The Islamic Republic of Iran has handed over the text of its latest negotiation plan to Pakistan,

Iran has delivered a new proposal to end the war with the U.S. to mediator Pakistan, Iranian state-run media reported. According to the Iranian state-run IRNA news agency on the 1st, Iran transmitted the full text of the proposal to Pakistan the previous night.

Iran and the U.S. are still at odds over Tehran's grip on the Strait of Hormuz and the American blockade of Iranian ports. CBS News' Charlie D'Agata reports.

Top U.S. military leaders, including CENTCOM head Adm. Brad Cooper, will brief President Trump on Thursday on potential military action against Iran.

For War ⁠Powers Resolution ​purposes, the United ‌States' hostilities ‌with ⁠Iran ⁠that started in February have "terminated", ​a senior Trump administration ​official said late on ⁠Thursday. "Both ⁠parties agreed ⁠to a ​2-week ceasefire on ​Tuesday,