Iran is expected to respond on Thursday to a US proposal aimed at ending the conflict and establishing a framework for broader nuclear negotiations, according to media reports, as diplomatic efforts intensified amid continuing tensions in the Gulf.
The US authorities believe they are nearing an agreement with Iran on a one-page memorandum of understanding aimed at ending the ongoing conflict and establishing a framework for more detailed nuclear negotiations, said an Axios report.
Around 20,000 seafarers remain trapped and unable to leave in and around the Strait of Hormuz, said International Maritime Organization (IMO) Secretary-General Arsenio Dominguez.
Oil prices extended their rally on Friday as geopolitical tensions around Strait of Hormuz remained unresolved, with both Iran and the United States showing no signs of de-escalation.
US President Donald Trump has hailed the ceasefire agreement between the US and Iran as a big day for world peace and said there is an opportunity to make big money.
US President Donald Trump said he had agreed to a two-week ceasefire with Iran on Tuesday on the condition that Iran agrees to reopen the critical Strait of Hormuz, while Iran’s supreme leader has instructed all military units to stop firing.
Time is rapidly running out for Donald Trump’s ultimatum to Iran, with the American president warning that Tehran faces devastating consequences if it fails to reopen the Strait of Hormuz before his deadline of 8:00 p.m. EDT Tuesday (00:00 GMT Wednesday).
Danube Group Chairman Rizwan Sajan has assured the company’s 6,000+ workforce that there will be no layoffs and salaries will be paid on time despite the geopolitical uncertainty the region is facing now.
Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place.
US President Donald Trump on Thursday warned the US military will destroy bridges and electric power plants in Iran, even as the world awaited an end to the conflict.
