Iran's foreign minister said on Twitter on Thursday that U.S. President Donald Trump's view that a conflict with Iran would be a "short war" was an illusion and that his threat of "obliteration" amounted to threatening "genocide".

The Trump administration organized an economic workshop in Bahrain on June 25 and 26, purportedly aimed at resolving the decades-old Israeli-Palestinian conflict. Under the title "Peace to Prosperity", the White house seeks to undermine Palestine, its people, and rights.

Palestinian leaders accused the Trump administration of punishing them with one hand and offering to reward them with the other, as protesters turned out in the West Bank and Gaza on Wednesday to demonstrate against a U.S. economic peace plan.

U.S. President Donald Trump on Wednesday said he was "fine" if there was no new agreement with Iran, adding that he had "unlimited time" to try and reach a deal with Tehran.

U.S. Secretary of State Mike Pompeo said in an interview with local media in India on Wednesday that the United States had done everything it could to de-escalate tensions with Iran.

Iran will speed up enrichment of uranium after a deadline given to European countries to prevent this ends on Thursday, the spokesman for Iran's Atomic Energy Organization said on Wednesday, according to the IRIB news agency.

A Saudi Arabian delegation led by Finance Minister Mohammed Al-Jadaan is to take part in Bahrain conference on economic development in the Palestinian territories, the Saudi Press Agency said.

Thousands of Palestinians demonstrated Tuesday throughout the occupied West Bank and the Gaza Strip against the launch of the US administration's Middle East peace plan.

Iran said Tuesday new US sanctions against its leaders marked the end of diplomacy with Washington, after President Donald Trump threatened the country with "obliteration".

Iran has no reason left to carry out commitments under its 2015 nuclear deal without reciprocation from the remaining European signatories, Deputy Foreign Minister Abbas Araqchi said on Tuesday, according to the Fars news agency.

The Trump administration launched a $50 billion economic formula for Israeli-Palestinian peace on Tuesday, saying an investment program for the Palestinians was a precondition for ending the decades-old conflict.

Bahrain's king met on Tuesday with the U.S. delegation participating in a workshop in Manama discussing a U.S. economic plan for the Palestinians.

Acting U.S. Ambassador to the United Nations Jonathan Cohen told the U.N. Security Council on Monday that Washington's policy on Iran "remains an economic and diplomatic effort to bring Iran back to the negotiating table."

U.S. Secretary of State Mike Pompeo held discussions on Monday with Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman on ensuring stability in energy markets and freedom of navigation, Saudi Arabia's ambassador designate to Washington said.

Iran said on Sunday it would not back down from its decision to scale back some of its commitments under 2015 nuclear deal with major powers, state TV quoted Iran's Deputy Foreign Minister Abbas Araqchi as saying.

Some of the world's leading carriers including British Airways, Qantas and Singapore Airlines on Friday suspended flights over the Strait of Hormuz, as Iran-US tensions flare over the downing of a drone.

The United States envoy on Iran, Brian Hook, said on Friday it was "important we do everything" to de-escalate tensions with Iran.

Iran refrained from shooting down a U.S. plane with 35 people on board that was accompanying the downed drone in the Gulf, a Revolutionary Guards commander said on Friday.

An adviser to Iranian President Hassan Rouhani said on Friday if U.S. President Donald Trump does not want war with Tehran, he should ease sanctions, as tensions rise between the countries following the downing of a U.S. drone by Iran.

U.S. President Donald Trump spoke on Friday to Saudi Crown Prince Mohammed bin Salman about Middle East stability and the oil market, the White House said, after tensions with Iran prompted a rise in oil prices.