According to CoinMeta, a summary of the Middle East situation update (November 4th): The Iranian Revolutionary Guards state that they remain in a high state of combat readiness, and any further aggression by the United States will be met with a response. The Iranian Revolutionary Guards downed two drones in the coastal area of Bandar Imam Khomeini. Trump expressed his reluctance to cause a large number of Iranian deaths, but said there would be no other choice if necessary. American media reports that Israeli intelligence claims Iran is researching chemical weapons, and this threat is more urgent than its nuclear program. An incident occurred in the Strait of Hormuz where the Revolutionary Guards fired at vessels that violated regulations; the UK Maritime Trade Operations Office reported that a vessel was hit by an unidentified projectile 9 nautical miles northeast of Lima, Oman. In terms of peace negotiations, both the US and Iran have made concessions on nuclear issues and frozen assets. Trump stated that if action is decided upon, more strikes against Iran could still be carried out. Informed officials say that the US and Iran expect to respond to the new proposals within 36 hours, but the negotiations have reached a deadlock. Iran's supreme leader stated that outsiders who act greedily and maliciously in the Persian Gulf have no other fate. The Iranian Foreign Ministry said that Qatar and Pakistan are still mediating, and there has been no new progress in the negotiations; Iran has maintained its defense preparations at the highest level. The Iranian Foreign Minister indicated that talks with Saudi Arabia continue, with the goal of reaching a security arrangement led by regional countries.