Islamabad, Pakistan. President Donald Trump said a deal to end the war in Iran could be reached soon, though the timing remained unclear, as U.S. allies gathered to discuss reopening the Strait of Hormuz shipping route. He said a two-week ceasefire ending next week could be extended but he did not believe that would be necessary.
Trump comments on prospects for an agreement
Trump told reporters he believed the parties were close to making a deal with Iran and said Tehran wanted an agreement. He added that if an agreement was reached and signed in Islamabad, he may travel there for the occasion.
Iranian sources cite remaining gaps
Iranian sources told Reuters that some gaps remained to be resolved before reaching a preliminary deal.
Security posture in Islamabad
In Islamabad, the venue of last weekend’s talks, troops were seen along routes leading into the capital on Friday, but roads were still open and the government had not issued orders for businesses to shut down, as it did prior to the last meeting.
Impact of the conflict on energy markets and growth outlook
The U.S.-Israeli attack on Iran began on February 28 and has killed thousands of people and destabilised the Middle East. The conflict also effectively closed the Strait of Hormuz, through which a fifth of the world’s oil and liquefied natural gas transits, raising concerns about an oil shock. The International Monetary Fund this week lowered its forecasts for global growth and warned the global economy risked tipping into recession if the conflict was prolonged.
Allied meeting on restoring navigation
France and Britain were set to chair a meeting on Friday of around 40 countries aimed at signalling to the United States that some of its closest allies are ready to help restore freedom of navigation in the Strait of Hormuz, but only once hostilities cease. Trump has called on other countries to get involved in the war and criticised NATO allies for failing to do so.
Diplomatic objectives outlined for participants
According to a note sent to invited nations, the meeting aims to reaffirm full diplomatic support for unfettered freedom of navigation through the waterway and the need to respect international law.
What do you think would be required for freedom of navigation in the Strait of Hormuz to be restored?