finance
Iran Proposes Negotiations with US Through Pakistan Amid Strait of Hormuz Ceasefire and Declining Oil Prices
Iran has forwarded a new proposal for talks with the United States through Pakistani mediators, according to state media. Global oil prices declined following the report amid an ongoing blockade of the Strait of Hormuz. The move comes as a ceasefire holds but tensions persist with threats of military action.
May 1, 9:55 AM·2m read4 sources
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Iran sent its latest proposal for negotiations with the United States to Pakistani mediators, Iranian state news agency IRNA reported on Friday. The IRNA report was published on Friday, and global oil prices dropped after the report.
5% gain over the week after hitting $126 a barrel on Thursday, the highest level for Brent crude since March 2022. Global oil prices reached a four-year high at one point on Thursday. Iran started a blockade of the Strait of Hormuz, which has choked off 20% of the world's oil and gas supplies.
U.S. Navy is blocking exports of Iranian crude oil. UAE presidential adviser Anwar Gargash said the 'collective international will and provisions of international law' were the primary guarantors of freedom of navigation through the strait.
A ceasefire has been in place since April 8. U.S. President Donald Trump was to be briefed on plans for new military strikes to compel Iran to negotiate.
U.S. Military leaders scheduled for Thursday involved using ground forces to take over part of the strait to reopen it to commercial shipping. A State Department cable due to be delivered orally to partner nations by May 1 invited them to join a new coalition called the Maritime Freedom Construct to enable ships to navigate the strait.
France, Britain and others have held talks on contributing to such a coalition.
France, Britain and others said they would help to open the Strait only when the conflict ends. Iran has activated air defences. Iran plans a wide response if attacked.
U.S. Strike, possibly followed by an Israeli attack. U.S. regional positions.
U.S. President Donald Trump said on Tuesday he was unhappy with the previous proposal from Iran. U.S. President Donald Trump repeated on Thursday that Iran would not be allowed to have a nuclear weapon.
