Iran on Friday (local time) has sent a fresh proposal for negotiations with the United States to Pakistani mediators, state-run news agency IRNA reported, in a move that could improve prospects for breaking an impasse between the two sides in efforts to end the war.
While the state-run news agency did not reveal any other details, global oil prices, which have seen a steep increase ever since Iran’s Islamic Revolutionary Guard Corps (IRGC) effectively shut the Strait of Hormuz, dropped after the news broke, Reuters reported.
The closure of the Strait of Hormuz, which transports roughly a fifth of the world’s oil and gas supplies, has rattled the global energy markets, with the International Energy Agency (IEA) describing the crisis as one of the worst energy crises in history.
The latest proposal comes days after the Islamic Republic sent another proposal to Washington via Pakistani mediators. The logjam between the two sides has continued ever since the first round of talks failed in Pakistan’s capital city, Islamabad, on April 11-12. The negotiations, which were held for over 21 hours, concluded without an agreement, with both sides accusing each other. While Washington said that Tehran chose not to accept its terms, Tehran accused Washington of making excessive demands.
This is a developing story. More details awaited.
