The latest proposal by Iran to end the war is unlikely to be accepted by US President Donald Trump, a CNN report said quoting sources.
The sharp rise in global air cargo rates following the outbreak of war involving the US, Israel and Iran is showing signs of slowing, as a fragile ceasefire allows capacity to gradually return to Middle East markets. The recovery was led by Gulf markets, where the capacity shortfall narrowed to 46% from 53%.
Fresh diplomatic momentum is building around possible talks between the United States and Iran, with both sides signalling cautious openness even as they stop short of confirming direct engagement.
US President Donald Trump has ordered the country's navy to “shoot and kill” any Iranian boats placing mines in the Strait of Hormuz, even as Iran announced that it has received its first revenue from tolls it imposed on ships passing through the strait.
Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges.
Hours before the US-Iran ceasefire was to end, US President Donald Trump said he is extending the truce until Tehran has submitted a proposal to end the war.
The US military said on Tuesday it had seized a tanker linked to Iran in international waters, its latest apparent action to enforce a blockade, with time running out on a ceasefire and the prospect of last-ditch further peace talks still up in the air, reported Reuters.
The Iran–US–Israel conflict is driving the worst global energy crisis, IEA head Fatih Birol said, calling it the biggest in history, worsened by Russia-related energy shocks and supply pressures global.
Tensions have escalated again in the Strait of Hormuz as Iran said it was tightening control over it warning mariners that the energy lifeline was again closed, as shipping sources said at least two vessels came under fire while trying to transit the waterway. It said this was in response to a continued US blockade of Iranian ports.
Iran has announced that commercial shipping through the strategically vital Strait of Hormuz will remain fully open for the duration of the current ceasefire, signalling a potential easing of tensions in one of the world’s most critical energy corridors.
