Iran said it was reviewing the latest US proposals to end the war, as US President Donald Trump threatened the country with a new wave of bombing unless an agreement was reached that included reopening the vital Strait of Hormuz to international shipping.
Hope that the two-month-old conflict would soon end buoyant international markets on Thursday, even as the US military fired on an Iranian oil tanker trying to breach the US blockade of Iran’s ports hours earlier. These developments came after days of mixed messages from the Trump administration about its strategy to end the war.
Trump posted on social media that the two-month-old war may end soon and that shipments of oil and natural gas that were disrupted by the conflict could resume. But he said that this depends on Iran’s acceptance of the announced agreement, the details of which he did not mention.
“If they don’t agree, the bombing will begin,” Trump wrote.
The fragile ceasefire between the United States and Iran has largely held since April 8. But personal talks between the two countries hosted by Pakistan last month failed to reach an agreement. The war began on February 28, when the United States and Israel launched strikes against Iran.
Pakistan expects to reach an agreement soon
“We expect to reach an agreement sooner rather than later,” Pakistani Foreign Ministry spokesman Tahir Andarabi said on Thursday. He added: “We hope that the parties will reach a peaceful and sustainable solution that will not only contribute to peace in our region, but also to international peace.”
But he refused to give a timetable, saying Pakistan would not reveal details of the ongoing diplomatic efforts.
He said: “What I can tell you, and this is what I mentioned before, is that we remain positive, we remain optimistic, and we hope that a settlement will be reached sooner rather than later.”
In response to a question about whether Pakistan expects any response from Iran later Thursday, Andarabi said: “I will not comment on the details or the movement of messages.”
Pakistani Prime Minister Shehbaz Sharif said, in televised statements on Thursday, that Islamabad remains in “continuous contact with Iran and the United States, day and night, to stop the war and extend the ceasefire.”
The Trump administration’s messaging throughout the Iran war has been variable and often contradictory. This week, the president and his aides gave a startling account of a US strategy to open the Strait of Hormuz and end a war that changed radically over the course of just hours.
Iran has effectively closed the Strait, a vital waterway for shipping supplies of oil, gas, fertilizers and other petroleum products, while the United States blockades Iranian ports.
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On Wednesday, a US fighter jet shot at the rudder of an Iranian oil tanker in the Gulf of Oman as it attempted to break through the US blockade, US Central Command said in a social media post.
Trump suggests that the United States may enforce the agreement
Trump insisted on Wednesday that Iranian officials want to end the war.
“We are dealing with people who desperately want to reach an agreement, and we will see whether they can reach an agreement that satisfies us or not,” the president said.
He noted that the United States could eventually impose a settlement.
“If they don’t agree, the bombing will begin, and it will, unfortunately, be at a much higher level and intensity than it was before,” Trump said on social media.
The White House believes it is close to reaching an agreement with Iran on a one-page memorandum to end the war, according to a report by the Axios news site. The terms include stopping Iranian uranium enrichment, lifting US sanctions, distributing frozen Iranian funds, and opening the strait to ships.
The White House did not immediately respond to questions about the potential agreement.
Iranian Foreign Ministry spokesman Ismail Baghaei told state television that Tehran “strongly rejected” the American proposals reported by Axios, but was still studying the latest American proposal.
Suspension of efforts to reopen the Strait of Hormuz
Trump sought to increase pressure on Tehran after he suspended on Tuesday a short-lived US effort dubbed Project Freedom to force commercial ships to open safe passage through the Strait of Hormuz.
It is known that only two commercial ships flying the American flag passed through the US-guarded route after it opened on Monday. The US military said it sank six small Iranian boats that were threatening civilian ships.
Hundreds of commercial ships remain stranded in the Persian Gulf, unable to reach the open sea without passing through the Strait of Hormuz. The closure of the Strait caused fuel prices to rise significantly, shook the global economy, and imposed enormous economic pressure on countries, including major powers such as China.
Hapag-Lloyd, one of the world’s largest shipping companies, said in a statement that closing the strait was costing it about $60 million per week, with fuel and insurance costs particularly high.
The price of Brent crude settled on Thursday at around $100 a barrel as investors waited to see if the strait would reopen.
Meanwhile, French President Emmanuel Macron said on Wednesday that the French aircraft carrier strike group is moving towards the Red Sea in preparation for a possible French-British mission to restore maritime security in the Strait of Hormuz as soon as conditions allow.
The Chinese Foreign Minister called on Wednesday for a comprehensive ceasefire after his meeting in Beijing with Iranian Foreign Minister Abbas Araqchi. Wang Yi said his country was “deeply saddened” by the conflict.
The close economic and political ties between China and Tehran give it a unique position of influence. The Trump administration is pressuring China to use this relationship to urge the Islamic Republic to open the strait.
The Iranian envoy visits China
Araqchi’s visit to China came ahead of a planned trip to Beijing by Trump, who is scheduled to attend a high-level summit on May 14-15 with Chinese President Xi Jinping. Trump was the last US president to visit China in 2017.
Araqchi told Iranian state television that his visit included discussions about the Strait of Hormuz, the Iranian nuclear program, and the sanctions imposed on Tehran.
Trump demanded a major rollback of Tehran’s controversial nuclear program.
