Iran said Thursday it is examining a new US proposal aimed at ending the ongoing conflict, while US President Donald Trump warned Tehran of renewed military strikes if an agreement is not reached, including the reopening of the strategically important Strait of Hormuz.
Global markets reacted positively to hopes that the two-month war could soon come to an end, despite heightened tensions after the US military targeted an Iranian oil tanker accused of attempting to violate Washington’s blockade on Iranian ports.
Trump said in a social media post that oil and gas shipments disrupted by the conflict could resume if Iran agrees to a proposed deal, though he did not disclose details of the arrangement.
“If they don’t agree, the bombing starts,” Trump warned.
A fragile ceasefire between the US and Iran has mostly remained in place since April 8. However, direct talks hosted by Pakistan last month failed to produce a breakthrough. The conflict began on Feb. 28 after the US and Israel launched strikes on Iran.
Pakistan Hopeful About Agreement
Pakistan expressed optimism that negotiations could soon yield results.
“We expect an agreement sooner rather than later,” Pakistani Foreign Ministry spokesperson Tahir Andrabi said Thursday, adding that Islamabad hopes for a peaceful and lasting resolution benefiting both the region and global stability.
He declined to provide details or a timeline regarding the diplomatic process.
Conflicting Signals from Washington
The Trump administration’s messaging throughout the conflict has frequently shifted, especially regarding efforts to reopen the Strait of Hormuz and bring the war to a close.
Iran has effectively blocked the vital shipping route, disrupting the movement of oil, gas and petroleum products, while the US continues to enforce restrictions on Iranian ports.
US Central Command said Wednesday that an American fighter jet disabled the rudder of an Iranian oil tanker in the Gulf of Oman after it allegedly attempted to breach the blockade.
Trump Warns of Further Military Action
Trump insisted Iranian officials are eager to negotiate but warned that the US is prepared to escalate military action if talks fail.
“We’re dealing with people that want to make a deal very much,” Trump said.
According to Axios, the White House is nearing a preliminary one-page agreement with Tehran that could include limits on Iran’s uranium enrichment, easing US sanctions, release of frozen Iranian assets and reopening of the Strait of Hormuz.
The White House has not officially commented on the report.
Iranian Foreign Ministry spokesman Esmaeil Baghaei told state television that Tehran strongly opposed the proposal outlined by Axios but confirmed Iran is still reviewing the latest American offer.
Hormuz Crisis Continues to Disrupt Global Trade
Trump recently suspended “Project Freedom,” a short-lived US operation aimed at securing safe passage for commercial vessels through the Strait of Hormuz.
Only two US-flagged merchant ships reportedly used the guarded route after it opened earlier this week. The US military also said it destroyed six Iranian boats it claimed threatened civilian shipping.
The closure of the strait has caused sharp increases in fuel prices and intensified pressure on the global economy, particularly for countries dependent on Gulf energy supplies, including China.
Shipping giant Hapag-Lloyd said the disruption is costing the company around $60 million per week due to higher fuel and insurance expenses.
Brent crude prices stabilized near $100 per barrel on Thursday amid uncertainty over whether the waterway would reopen.
Meanwhile, French President Emmanuel Macron said France’s aircraft carrier strike group is moving toward the Red Sea in preparation for a possible joint French-British mission to restore maritime security in the Strait of Hormuz.
China Calls for Ceasefire
Chinese Foreign Minister Wang Yi called for a comprehensive ceasefire during talks in Beijing with Iranian Foreign Minister Abbas Araghchi on Wednesday.
Wang said China was deeply concerned by the conflict, while the Trump administration has urged Beijing to use its close relationship with Tehran to help reopen the strategic waterway.
Araghchi’s visit to China comes ahead of Trump’s planned trip to Beijing next week for a summit with Chinese President Xi Jinping.
The Iranian minister said discussions covered the Strait of Hormuz, Iran’s nuclear activities and sanctions imposed by Washington.
Trump continues to demand major restrictions on Iran’s nuclear program.