Talks aiming to bring an end to the conflict with Iran may recommence in Pakistan within the next two days, according to statements made by President Donald Trump. This follows the breakdown of negotiations over the weekend, leading to the United States imposing a blockade on Iranian ports.
Officials from the Gulf, Pakistan, and Iran have indicated that negotiating teams from the US and Iran could reconvene in Pakistan later this week. However, a senior Iranian source mentioned that a specific date has not been confirmed yet.
In an interview with the New York Post, Trump expressed optimism about the potential developments in the next two days, urging stakeholders to remain engaged. Despite Tehran’s strong reaction to the US blockade, the prospect of diplomatic discussions resuming helped stabilize oil markets, causing benchmark prices to drop below $100.
The recent talks in Islamabad marked the highest-level engagement between the US and Iran since the 1979 Islamic Revolution. The negotiations concluded without a breakthrough, casting uncertainty over the continuation of a two-week ceasefire, which still has a week remaining.
Following the initiation of the conflict by the United States and Israel on February 28, Iran enforced a virtual closure of the Strait of Hormuz, permitting only its vessels to pass under Iranian oversight and payment of a fee. This move significantly impacted global oil and gas supplies, as nearly a fifth of these resources previously transited through the strait.
In response, the US military announced the commencement of blocking shipping traffic to and from Iranian ports. Tehran retaliated by threatening naval vessels passing through the strait and targeting the ports of its Gulf neighbors.
The US Central Command disclosed that the blockade of Iranian ports involved over 10,000 US military personnel, a dozen warships, and numerous aircraft. CENTCOM reported that within the first 24 hours, no vessels breached the blockade, with six merchant ships complying with instructions to return to an Iranian port on the Gulf of Oman.
Despite these actions, data on shipping movements indicated minimal disruption to traffic in the Strait of Hormuz, with at least eight ships observed crossing the waterway.
The ongoing standoff has heightened concerns about global energy security and the supply chain’s reliance on petroleum. The International Monetary Fund revised its growth projections downward, warning of a potential economic downturn if the conflict escalates and oil prices remain above $100 per barrel.
The International Energy Agency also adjusted its forecasts, anticipating declines in global oil supply and demand growth from 2025 levels. While the US and its NATO allies expressed reluctance to participate in the blockade, they offered to support a defensive mission once a consensus is reached.
China, a significant consumer of Iranian oil, condemned the US blockade as “dangerous and irresponsible,” foreseeing heightened tensions as a result. UN Secretary-General Antonio Guterres conveyed optimism about the resumption of talks to resolve the Iran conflict, emphasizing the importance of sustained negotiations and a lasting ceasefire.
US Vice President JD Vance, leading the US delegation in Pakistan, reiterated Trump’s stance on removing enriched nuclear material from Iran. Reports suggested that the US proposed a 20-year suspension of Iran’s nuclear activities with stringent restrictions, a proposal reportedly rejected by Iran in favor of a shorter suspension period.
Efforts to narrow the gap on the nuclear issue during backchannel talks in Pakistan indicated progress, bringing the parties closer to a potential agreement for the upcoming negotiations. However, Israel’s ongoing operations targeting Iran-backed Hezbollah in Lebanon have complicated mediation efforts, with differing interpretations of the ceasefire agreement.
Israeli and Lebanese representatives were scheduled to meet in Washington, with Secretary of State Marco Rubio expected to attend. Despite initial clashes following the ceasefire announcement, Israel expressed willingness to discuss a separate ceasefire with Lebanon, emphasizing its stance against Iran’s nuclear ambitions.
In response to the situation, Israeli Foreign Minister Gideon Saar reaffirmed Israel’s commitment to preventing Iran from acquiring nuclear weapons and reiterated the demand for the removal of enriched materials from Iran. Amid domestic discontent and economic repercussions, Trump temporarily halted military actions last week, citing concerns over rising energy prices and public sentiment.
Recent polls indicated a slight decrease in American approval for US strikes against Iran, reflecting ongoing tensions despite the ceasefire’s implementation. Both sides have maintained a relatively peaceful stance, with Iran criticizing US actions as “piracy” and Trump asserting the severe degradation of Iran’s naval capabilities.
