ISLAMABAD/WASHINGTON/TEL AVIV: Iran said on Wednesday it was reviewing a new US proposal, after sources said Washington and Tehran were closing in on a one-page memorandum to end the war in the Gulf while leaving tricky issues such as Iran’s nuclear programme for later.
An Iranian foreign ministry spokesperson, cited by Iran’s ISNA news agency, said Iran would convey its response soon via Pakistan, which hosted the war’s only peace talks and has since served as the main conduit for messages between the sides.
In an early morning social media post, US President Donald Trump gave no details of any specific proposal but said the war could end if “Iran agrees to give what has been agreed to”. He later told the New York Post it was still too soon to consider face-to-face meetings to sign an agreement. A Pakistani source and another source briefed on the mediation confirmed information initially reported by the US media outlet Axios about a proposed 14-point, one-page memorandum that would formally end the war.
The memorandum would be followed by discussions to unblock shipping through the Strait of Hormuz, lift US sanctions on Iran and agree curbs on Iran’s nuclear programme, the sources said.
“We will close this very soon. We are getting close,” said the source from Pakistan.
The White House, the State Department and Iranian officials contacted by Reuters did not immediately respond to requests for comment.
By late afternoon there had also been no public comment from Washington’s wartime ally Israel, which has pressed Washington to stand tough on demands before any agreement. An Israeli source told Reuters Israel was not aware that Trump was potentially close to a deal to end the war, and that Israel was instead preparing for an escalation in fighting.
OIL PRICES TUMBLE
Reports of the possible agreement caused global oil prices to plunge, with benchmark Brent crude futures falling around 11% to around $98 a barrel. Global share prices also leapt and bond yields fell on optimism of an end to a war that has disrupted energy supplies.
In his morning post, Trump said: “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran.”
Comments