Pakistani officials are working to facilitate peace negotiations between the United States and Iran, with diplomatic meetings continuing in Tehran as both nations remain divided over key issues including uranium enrichment and maritime shipping controls.
Pakistan’s Interior Minister Syed Mohsin Naqvi conducted another diplomatic session with Iran’s Foreign Minister Abbas Araqchi on Friday, according to the semi-official Tasnim news agency. This meeting occurred two days after Pakistani representatives delivered the most recent American proposal to Iranian officials.
U.S. Secretary of State Marco Rubio expressed cautious optimism about the diplomatic progress on Thursday, telling reporters there had been “some good signs” in the negotiations. However, he emphasized that any resolution would be impossible if Iran continues to impose shipping fees in the Strait of Hormuz, which has been largely closed to commercial traffic since the conflict began on February 28.
“There’s some good signs,” Rubio stated. “I don’t want to be overly optimistic … So, let’s see what happens over the next few days.”
A senior Iranian source indicated to Reuters on Thursday that negotiators have made progress in narrowing differences, though uranium enrichment activities and Strait of Hormuz control remain significant obstacles.
The conflict has severely impacted global markets, with rising oil costs raising concerns about widespread inflation. Prior to the war, approximately one-fifth of worldwide oil and liquefied natural gas shipments passed through the Strait of Hormuz.
Financial markets reflected the ongoing uncertainty Friday, with the U.S. dollar reaching near six-week highs and oil prices climbing as investors questioned whether diplomatic efforts would succeed.
“We’re coming to the end of week 12, we’re six weeks in the ceasefire, and I’m just not really that convinced we’re any closer to a resolution between the U.S. and Iran,” said Tony Sycamore, a market analyst at IG, regarding the Middle East conflict.
President Donald Trump declared Thursday that the United States would ultimately secure Iran’s highly enriched uranium stockpile, which Washington claims is intended for weapons development despite Tehran’s assertions that it serves peaceful purposes.
“We will get it. We don’t need it, we don’t want it. We’ll probably destroy it after we get it, but we’re not going to let them have it,” Trump told reporters at the White House on Thursday.
Prior to Trump’s remarks, two senior Iranian sources informed Reuters that Iranian Supreme Leader Ayatollah Mojtaba Khamenei had ordered that the uranium must not leave the country.
The president also criticized Tehran’s plans to impose charges on vessels using the strait.
“We want it open, we want it free. We don’t want tolls,” Trump declared. “It’s an international waterway.”
Trump is facing political pressure domestically with November midterm elections approaching, as Americans express frustration over rising fuel costs and his approval ratings hover near their lowest point since his return to office last year.
Iran presented its most recent proposal to the United States earlier this week.
According to Tehran’s descriptions, the offer largely repeats conditions Trump has previously rejected, including demands for Strait of Hormuz control, war damage compensation, sanctions relief, asset unfreezing, and U.S. military withdrawal.
The International Energy Agency has characterized the conflict as creating the world’s most severe energy crisis.
The agency warned Thursday that peak summer fuel consumption combined with reduced Middle Eastern supply could push the market into the “red zone” during July and August.
Shipping traffic through the strait has dropped dramatically compared to the 125 to 140 daily transits recorded before the war began.
Iran has indicated it plans to reopen the strait to allied nations that comply with its conditions, which may include fee requirements.
“It would make a diplomatic deal unfeasible if they were to continue to pursue that. So it’s a threat to the world if they were trying to do that, and it’s completely illegal,” Rubio said.
Trump and Israeli Prime Minister Benjamin Netanyahu have stated their military objectives include reducing Iran’s support for regional militant groups, eliminating its nuclear capabilities, destroying its missile arsenal, and facilitating regime change by Iranian citizens.
However, Iran has maintained its stockpile of weapons-grade enriched uranium and continues to possess the capability to threaten neighboring countries through missiles, drones, and proxy forces.
