Iran faces an estimated US$270 billion in damages, nearly equivalent to its losses in the 1980s Iran-Iraq war. With negotiators meeting and a ceasefire holding, the question is whether economic ruin can achieve what sanctions and military pressure could not, potentially impacting shipping.
Iran's Deputy Minister Kazem Gharibabadi confirmed a deal with the US, with a memorandum of understanding finalized for signing Friday in Switzerland. The US naval blockade on Iran will be lifted June 15, and war on all fronts will end.
Iran has presented a set of conditions for a potential agreement with the US, prioritizing sanctions relief, reopening the Strait of Hormuz under its terms, and including Lebanon's Hezbollah in the deal. Nuclear program discussions are deferred to a later phase.
Iran has presented a set of conditions for a potential deal with the US, prioritizing sanctions relief, maritime access, and regional security, including Lebanon. Foreign Minister Abbas Araghchi stated that a memorandum of understanding is close to finalization, focusing on ending hostilities and reopening the Strait of Hormuz, with nuclear program negotiations to follow. US priorities include nuclear restrictions and halting funding for proxy groups.
Iran has outlined conditions for a potential deal with the US, focusing on sanctions relief, maritime access, and regional security, separate from nuclear talks. Key demands include lifting the US naval blockade, a new arrangement for the Strait of Hormuz, and inclusion of Hezbollah in Lebanon. While US officials prioritize nuclear restrictions and regional security, Iran stresses performance-based sanctions relief. A digital signing is being considered, with Pakistan mediating.
Iran's Ambassador to Belarus, Alireza Sanei, stated that a US naval blockade is unlikely to cripple Iran's economy due to its extensive land borders with 15 nations. He acknowledged economic damage but emphasized the people's resilience and commitment to sovereignty.
US Central Command reports 15 humanitarian ships passed through the naval blockade of Iran, 67 redirected, and 4 disabled for compliance in the first month.
Iran's economy is grappling with hyperinflation, a collapsing currency, and widespread poverty as the ongoing war and US naval blockade restrict trade and essential supplies, pushing millions toward the poverty line.
An oil spill near Iran's Kharg Island, the country's primary oil export hub, has raised concerns amid a US naval blockade. Satellite images show a significant oil slick, potentially amounting to 3,000 barrels lost. This incident occurs as Iran faces a storage crisis due to the blockade, with capacity nearing its limit.
Iranian tankers reportedly reached ports bypassing the US naval blockade, as a leaked intel report said Tehran could manage for months Read Full Article at RT.com
The latest drop follows a currency shock several months ago, when the rial fell from around 1.4 million to 1.6 million per US dollar in under a week, as the war moves turns into an economic clash to exhaust the Iranian regime' options.
Subscribers: The Daily Pulse won’t be published on May 1 because of China’s Labour Day holiday. We will resume publication on Monday, May 4. Crude oil prices jumped to a four-year high after US President Donald Trump suggested that a US naval blockade of the Strait of Hormuz could last for “months”. Brent crude, the global benchmark, surged as much as 7.3 per cent, surpassing US$126 a barrel, following reports that Trump met oil executives on Tuesday to discuss ways of extending the blockade and...
President Trump shared a modified map renaming the Strait of Hormuz to 'Strait of Trump' and suggested the US naval blockade against Iran could last months, impacting global oil prices.
President Trump described the US naval blockade against Iran as 'genius' and '100% foolproof,' asserting Tehran must abandon nuclear ambitions for any deal. US Central Command reported the 42nd commercial vessel was redirected attempting to violate the blockade. Iran has proposed a conditional ceasefire offering to halt military operations if the US lifts the blockade, with Washington reviewing the offer.
US President Donald Trump warned Tehran on Wednesday that it should “get smart soon” and capitulate to Washington’s demands for tight controls on its nuclear programme, as a US naval blockade turned the screws on Iran’s economy. The US could extend its naval blockade of Iran for months more, oil executives were told in a meeting with Trump, an official said, after press reports that he had rejected Iran’s latest proposed deal to reopen the Strait of Hormuz. “Iran can’t get their act together …...
US President Donald Trump warned Tehran on Wednesday that it should “get smart soon” and capitulate to Washington’s demands for tight controls on its nuclear programme, as a US naval blockade turned the screws on Iran’s economy. The US could extend its naval blockade of Iran for months more, oil executives were told in a meeting with Trump, an official said, after press reports that he had rejected Iran’s latest proposed deal to reopen the Strait of Hormuz. “Iran can’t get their act together …...
Iran has seized two ships and fired on three vessels in the Strait of Hormuz, warning the waterway will remain closed while a US naval blockade persists. Iranian Foreign Minister Abbas Araqchi told a South Korean envoy that the US and Israel bear responsibility for war consequences. US President Donald Trump has paused planned attacks on Iran while seeking negotiations, with Iran required to hand over enriched uranium as part of any deal.
Iran has set lifting the US naval blockade as a precondition for negotiations, citing ceasefire violations. Despite President Trump's unilateral ceasefire extension, Tehran remains skeptical. The Strait of Hormuz remains closed, threatening global energy markets, with a second round of negotiations anticipated in Islamabad.
Pakistan Prime Minister Shehbaz Sharif thanked US President Donald Trump for extending the ceasefire in the Iran conflict, expressing hope the pause would enable a lasting peace agreement. Sharif said Pakistan would continue facilitating dialogue ahead of second-round talks scheduled in Islamabad. The extension comes as Iran has not formally confirmed participation and the US maintains its naval blockade of Iranian ports.
Trump announces last-minute extension of ceasefire on Iran at Pakistan's request, delaying military action until Pakistan's leaders can present a unified proposal. The decision reverses his earlier threat from Tuesday that he was very unlikely to extend the ceasefire and would continue bombing Iran. The US military will continue the blockade but remain ready to attack.
It violates Article 2(4) of the UN Charter, Esmail Baghaei said
The US has implemented a naval blockade of Iranian ports, increasing regional tensions and impacting global oil prices. This follows failed US-Iran talks and a public dispute between President Trump and Pope Leo XIV.
