Tehran, Iran. Iran is reviewing a proposed agreement with the United States to halt the war between the two countries, Mehr news reported on Tuesday, after President Donald Trump said talks to reach a deal were continuing.
Stalemated conflict
More than three months after the United States and Israel launched strikes against Iran, the conflict has hardened into a stalemate. Largely indirect talks aimed at an interim deal have so far been inconclusive, and the Strait of Hormuz remains largely shut.
Iran’s response
Iran has not yet responded to a proposed final text of the temporary deal and was taking a “stern” approach, Mehr cited a source as saying, given what it sees as a history of U.S. non-compliance and longstanding mistrust.
Trump said on Monday that negotiations with Iran were continuing and that a deal to extend the ceasefire and reopen the Strait of Hormuz would be reached over the next week.
Oil and wider conflict
Since mid-March, Trump has repeatedly said he is close to signing a peace agreement. A ceasefire has largely held since early April, though Iran and the United States have exchanged strikes several times over the past week.
Oil prices fell more than 1% on Tuesday, paring the previous day’s sharp gains, although a senior International Energy Agency official warned that global oil inventories could fall to historically low levels.
The war that began on February 28 has killed thousands of people, mainly in Iran and Lebanon. It has also caused global economic pain by pushing up energy prices after Iran effectively closed the Strait of Hormuz, which previously carried about a fifth of global supplies of oil and liquefied natural gas.
Israel-Lebanon front
The conflict also triggered the latest round of fighting between Israel and Lebanese militant group Hezbollah, with Israel pursuing its deepest incursion into Lebanon in 25 years.
On Tuesday, Israel continued strikes in southern Lebanon, Lebanese security sources said, a day after U.S. mediation appeared to have averted further escalation. A partial ceasefire announced by Lebanon on Monday would require Israel to refrain from strikes on Beirut and Hezbollah-controlled suburbs of the Lebanese capital, while the Iran-aligned group would halt its attacks on Israel.
