Pakistan says US, Iran close to some arrangement: report
- Pakistan has actively engaged in mediation efforts to de-escalate the ongoing US-Iran conflict
Pakistan indicates the US and Iran are nearing a peace arrangement, potentially easing tensions and impacting global oil markets, despite recent complications from US demands.
- Pakistan's mediation efforts in the US-Iran conflict.
- Global oil price fluctuations due to peace prospects.
- US demands and control claims over the Strait of Hormuz.
Pakistan on Tuesday indicated that the US and Iran were close to reaching an arrangement that could ease tensions which have embroiled energy markets.
“Things are shaping up again in favour of a peace arrangement or a deal,” Defence minister Khawaja Asif told Bloomberg News on Tuesday.
“The signals in the last two, three days are that we are close to some sort of an arrangement.”
Pakistan has actively engaged in mediation efforts to de-escalate the ongoing US-Iran conflict, which began with US and Israeli strikes on February 28, 2026, and Iran’s subsequent retaliations.
These efforts have been widely recognised and supported by various regional and international partners, including China, Saudi Arabia, Turkiye, Egypt, and the United Nations.
Following Asif’s comments, global oil prices declined as Brent crude futures fell 21 cents, or 0.24%, to $87.51 a barrel by 1138 GMT. US West Texas Intermediate crude futures were down 4 cents, or 0.05%, at $82.09.
On Monday, US President Donald Trump responded to Iran’s conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, which is likely to complicate efforts to reopen the Strait of Hormuz.
Later in the day, he added that the US had control of the strait and had swept the strategic oil waterway for Iranian mines.
Before the Iran conflict began in late February, about a fifth of global daily oil and liquefied natural gas supplies passed through the Strait of Hormuz.