A proposed Iran-US peace agreement remained under negotiation despite US bombings of Iranian targets, including missile launchers and efforts to lay mines in the Strait of Hormuz. Iran’s foreign ministry condemned the attack as bad faith and a definitive ceasefire violation, while stating it would not leave aggression unanswered. Iran did not withdraw from talks continuing under joint mediation by Pakistan and Qatar, and the military announced no specific reprisals at that stage. Four Iranian soldiers were killed in the attack. Oil futures rose sharply after renewed fighting. Donald Trump convened a rare cabinet meeting at Camp David. Iran’s chief negotiator in Doha sought agreement on unlocking more than $12bn in frozen assets and securing sanctions relief for oil and petrochemical exports, alongside timelines for lifting port blockades and restoring shipping through Hormuz.
"A proposed peace agreement between Iran and the US seemed to still be on the table on Tuesday despite US bombings of Iranian targets the first military action by Washington since the 8 April ceasefire. The Iranian foreign ministry denounced the US attack aimed at missile launchers and efforts to lay fresh mines in the strait of Hormuz as an act of bad faith and a definitive violation of the ceasefire and said it would not leave aggression unanswered. But it conspicuously did not pull out of the talks that were continuing under the joint mediation of Pakistan and Qatar."
"The Iranian military announced no specific reprisals at this stage, suggesting it did not want the attack which killed four Iranian soldiers to disrupt the delicate last steps towards an agreement that it intends to hail as one of the great milestones in Iran's history of resistance. Brent oil futures climbed 4% after news of the renewed fighting. In a sign that Donald Trump recognises the conflict has reached a decisive point, he is convening a rare cabinet meeting at Camp David, the presidential retreat in Maryland."
"Iran's parliamentary speaker and chief negotiator, Mohammad Bagher Ghalibaf, remained in Doha for a second day on Tuesday trying to agree the means by which more than $12bn (9bn) in frozen Iranian assets could be unlocked and sent to an Iranian account. He is also seeking sanctions relief for Iran's oil and petrochemical exports for the 60-day period set aside to negotiate fresh constraints on Iran's nuclear programme."
"A separate 30-day timeframe has been allocated in the agreement for the US to lift the blockade of Iranian oil ports and for Iran to allow commercial shipping through the strait of Hormuz, restoring maritime traffic to levels from before Israel and the US started the war on 28 February. Vessels anchored in the strait of Hormuz on Monday."
#iran-us-relations #ceasefire-and-peace-talks #strait-of-hormuz #sanctions-and-frozen-assets #oil-market-impact
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