Gulf War Peace Talks Inch Toward Historic Agreement

Iran and the United States are close to agreeing on a memorandum to end the Gulf War, with difficult issues like Iran's nuclear program postponed. Talks mediated by Pakistan might see an agreement soon, potentially impacting global oil prices and international relations.

Iran announced it is reviewing a new proposal from the U.S. aimed at concluding the Gulf War. While some contentious issues, such as Iran's nuclear activities, remain unresolved, both nations are engaged in drafting a one-page memorandum that could formally end ongoing hostilities.

A representative from Iran's foreign ministry confirmed via ISNA that Tehran would provide its feedback soon through Pakistan. Pakistan has been instrumental in hosting the war's peace negotiations and remains a crucial channel for communication between Iran and the U.S. Meanwhile, U.S. President Donald Trump emphasized Iran's readiness to negotiate and hinted at a deal potentially emerging from the current talks.

The proposed memorandum, which aligns with initial reporting by Axios, includes dismantling blockades on the Strait of Hormuz and lifting U.S. sanctions against Iran. This development influenced global markets; oil prices dropped significantly, given the anticipation of resumed energy flow through the strategic strait. However, some critical demands, such as Iran's missile program curbs, remain unaddressed.