Iran studying deal to halt war as stalemate persists
Iran’s Mehr news agency reported that Iran is reviewing the proposed agreement with the United States to stop the war between the two countries, after US President Donald Trump said that talks were continuing to reach an agreement.
More than three months after the United States and Israel launched an attack on Iran, the conflict has hardened and descended into a stalemate as indirect talks to negotiate an interim agreement have largely failed and the Strait of Hormuz remains largely closed.
Iran has yet to respond to the proposed final text of the interim agreement and is taking a “tough” approach given the United States’ non-compliance and long-standing history of distrust, Mehr said, quoting one source.
Trump said Monday that talks with Iran are ongoing and an agreement will be made to extend the ceasefire and reopen the Strait of Hormuz next week.
Since mid-March, Trump has repeatedly said he is close to signing a peace agreement.
Although Iran and the United States exchanged attacks several times last week, the ceasefire has largely been in place since early April.
Oil prices fell more than one percent on Tuesday, paring the previous day’s sharp gains, even as a senior official with the International Energy Agency warned that global oil inventories could fall to historically low levels.
Thousands of people, especially in Iran and Lebanon, lost their lives in the war that started on February 28.
It has caused global economic pain by increasing energy prices since Iran effectively closed the Strait of Hormuz, which previously carried about a fifth of the global supply of oil and liquefied natural gas.
This also triggered the latest round of fighting between Israel and the Lebanese militant group Hezbollah; Israel was carrying out its deepest attack on Lebanon in the last 25 years.
Israel continued its offensive in southern Lebanon, Lebanese security sources said on Tuesday, a day after it emerged that US mediation had prevented further escalation of the war.
The partial ceasefire announced by Lebanon on Monday will require Israel to refrain from attacking Beirut and the Hezbollah-controlled suburbs of the Lebanese capital, while the Iran-allied group halts attacks on Israel.
Lebanon has said it will seek to extend the ceasefire with Israel at talks in Washington on Wednesday.
Israeli Prime Minister Benjamin Netanyahu faces criticism at home over any agreement to stop further attacks on Beirut ahead of elections he is expected to lose this year.
In the broader context of the war, Iran is pushing for a limited interim agreement as it seeks to ease mounting economic pressure while avoiding major concessions on its nuclear program, according to Iranian sources.
As part of any deal, Tehran wants an end to hostilities on all fronts, including Lebanon, access to billions of dollars in oil revenues, exemptions from crude oil exports, the lifting of a US blockade of its ports and continued influence over the Strait of Hormuz.
Trump is under pressure to reopen the strait and lower US fuel prices without making concessions to Iran.
Iran’s Revolutionary Guard said on Tuesday that 24 ships had passed through the strait in the last 24 hours after receiving permission from the Guard navy.
Iran threatened on Monday to extend the blockade to the Bab El Mandeb Strait, another narrow point at the mouth of the Red Sea, if Israel continues its attack on Beirut.
