US President Donald Trump has issued one more deadline for Iran to open Strait of Hormuz, after the successful rescue of service member stranded in Iran. President Trump will address a news conference over the rescue mission tonight.
Trump’s deadline to reopen the as US allies reportedly pressing for a last-minute deal with Iran with rising speculation about a breakthrough even as markets remain on edge.
A report by Axios said that Pakistan, Egypt and Turkey are pushing to secure a potential ceasefire — lasting about 45 days — to head off threatened US strikes on Iran’s energy infrastructure and retaliation by the against countries in the region.
The shifting deadline
The Axios report comes as President set a new deadline for Iran to fully reopen the Strait of Hormuz. “Tuesday, 8:00 P.M. Eastern Time,” Trump wrote, after issuing a profane message renewing threats to bomb key Iranian infrastructure, including power plants, if Tehran does not comply.
The move adds to a series of extensions since he began issuing similar ultimatums on March 21 to force Iran to reopen the strategic waterway.
Earlier such deadline were issued on 21 March (48 hours), 23 March (postponed by 5 days), 26 March (postponed for 10 days) and 4 April (48 hours). Now the new deadline is 7 April 8 PM (ET), which 5.30 AM, 8 April (IST).
The repeated delays in deadline come as Trump points to ongoing negotiations between his envoys and Iran’s leadership, which he has yet to identify, aimed at ending the war triggered by US and Israeli attacks in late February.
Fifteen ships have passed through the with Iran’s permission in the past 24 hours, the semi-official Fars news agency reported, adding that’s still about 90% lower than before the start of the conflict. It didn’t elaborate on the ownership or destination of the vessels.
It’s been six weeks since the West Asia war began with joint US-Israeli attacks on Iran. Tensions escalated following the killing of 86-year-old Iran’s Supreme Leader, , in the military strikes on 28 February.
In retaliation, Iran targeted Israeli and US assets across several , causing further disruptions to the waterway and impacting international energy markets as well as global economic stability, disrupting trade routes through the Strait of Hormuz.
Fighting continued, with Israel, Kuwait and the United Arab Emirates reporting Iranian attacks overnight into Monday.
Trump Presser Tonight
President Trump is expected to speak to reporters about the rescue operation. Trump has already shared also offered some new details on the crew member, whom he described as “seriously wounded.”
White House Press Secretary Karoline Leavitt said will give a press conference on Monday at 1 pm EST (10.30 PM IST) to address the public about a rescue that found a missing F-15 Crew Member in the mountains of Iran. The original briefing was to take place in the Oval Office, but has since moved to the White House Briefing Room.
The US airman shot down over Iran evaded capture for more than a day, hiding alone and scaling rugged terrain as a massive rescue effort unfolded, officials were quoted as saying by CNN.
“Due to popular demand from the press, President Trump’s news conference tomorrow will now take place in the White House Briefing Room. 1PM ET,” Leavitt’s post reads.
More than 5,000 people have been killed in the West Asia war far so far. The causalities are almost three-quarters of them in Iran, according to government organizations and the . More than 1,400 people have been killed in Lebanon, and dozens of others died across Gulf Arab states and in Israel.
Oil prices have been disrupted by the conflict and soaring costs for products such as jet fuel and diesel are threatening a renewed wave of inflation. OPEC members raised their production quotas for May, in a symbolic move as the war constrains output and shipments from several of the alliance’s largest members.
The update on ‘ceasefire’
Negotiators from US, Iran, and a group of other regional mediators are reportedly discussing terms for a potential 45-day ceasefire that could pave the way for the end of the war in the West Asia
According to a report by Axios, which cited US and Israeli sources with knowledge of the talks, last-ditch efforts are underway to seal a truce in the next 48 hours, prior to the new deadline by US President for Iran accept a deal and reopen the Strait of Hormuz.
Four sources with knowledge of the diplomatic efforts said the ongoing talks are being conducted through Pakistani, Egyptian and Turkish mediators and also through text messages sent between Trump’s Middle East envoy Steve Witkoff and Iran’s .
Iran Responds
Iran rejected Trump’s latest ultimatum to reopen Hormuz, saying it would only fully resume operations when war damages are compensated. Iran’s foreign ministry spokesperson said US President Donald Trump’s statement on Iran requesting a ceasefire was false and baseless, Iranian state TV reported on Wednesday.
Tehran continued striking energy targets in , including Kuwait’s oil headquarters and a major petrochemicals plant in Abu Dhabi over the weekend. The UAE issued multiple alerts overnight, while Kuwait said its air defenses intercepted missile and drone attacks.
What experts said on the proposed ceasefire?
Experts have said Iran could sustain its counteroffensive more easily and for far longer. They said a ceasefire alone will not lift the shadow of risk that Iran has imposed over the Gulf, which is now experiencing its nightmare scenario.
“That is why Iranian leaders are saying they will not accept a ceasefire until Washington fully grasps the of waging this war,” Vali Nasr, an Iranian-American academic and political scientist, wrote in Financial Times last week.
Nasr, who specialises in Middle Eastern studies and the history of Islam, is Majid Khaddouri Professor of International Affairs and Middle East Studies at the in Washington, DC.
“This is no longer a war on the Islamic republic or its missiles or its nuclear facility. This is a war on the country. This is about turning Iran into a failed state,” Nasr told New York Times on 4 April.
Escalating Crude Oil Prices
The War in West Asia is sending shockwaves through global markets, with oil prices at the forefront of the turmoil.
Anindya Banerjee, Head of Research for Commodities and Currencies at Kotak Securities, warned that the Brent crude oil price, currently hovering around USD 109, could breach the USD 130-140 mark if the war prolongs.
“The longer this continues, the more the impact on oil prices… every passing week is crucial for oil prices,” Banerjee told news agency ANI in an interview.
The disruption in oil supplies from the region, impacting around 8-10% of global oil and 15-20% of gas, is the primary driver behind the price surge. With inventories depleting rapidly and spot prices trading at a USD 20-30 premium over futures, Banerjee emphasises that every passing week in April will only push prices higher.
“If this continues, it will lead to demand disruption eventually,” he added.
