US President Donald Trump announced he will send representatives to Pakistan for talks to end the war with Iran, while simultaneously threatening to strike Iranian civilian infrastructure if a deal is not reached.
- US special envoy Steve Witkoff and Jared Kushner are scheduled for talks in Islamabad from April 21 to April 22.
- Tensions escalated after Iran closed the Strait of Hormuz in response to a US naval blockade.
- Brent crude oil prices dropped 9% to approximately $90 a barrel on April 17 amid hopes for a resolution.
Ultimatum and Diplomatic Efforts
In a social media post on April 19, President Trump stated that the United States is offering a “fair and reasonable deal.” He warned that if Tehran does not agree, the US will “knock out every single power plant, and every single bridge, in Iran.”
Special envoy Steve Witkoff is slated to head to Islamabad for negotiations beginning April 21. Jared Kushner is also expected to participate in the talks to end the conflict, which has already resulted in thousands of deaths.
Standoff Over the Strait of Hormuz
The diplomatic push follows Iran’s decision to reverse its move to reopen shipping through the Strait of Hormuz. This action was a response to a US naval blockade of the waterway, through which roughly one-fifth of the world’s oil typically flows.
The Islamic Revolutionary Guard Corps (IRGC) Navy warned vessels not to leave anchorages in the Persian Gulf and the Sea of Oman. The IRGC stated that any vessel approaching the strait would be considered as cooperating with the enemy and would be targeted.
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf noted that while significant gaps remain, negotiations are making progress. However, he emphasized that it is impossible for other ships to pass through the strait while Iranian vessels cannot.
Economic Impact and Peace Terms
Global energy markets reacted to the volatility, with oil, fuel, and natural gas prices plunging on hopes of a peace deal. Brent crude fell below $100 a barrel for the first time since March 11, reaching around $90 on April 17.
Unresolved issues in the peace talks include Iran’s nuclear program and the ongoing Israeli invasion of Lebanon. Reports indicated a proposal for the US to release $20 billion in frozen Iranian funds in exchange for Tehran surrendering its enriched uranium stockpile.
President Trump has explicitly rejected the proposal to release the $20 billion in frozen funds. He maintained a tough stance, stating that Iran cannot “blackmail” the United States by closing the strait.
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