According to a source from mediator Pakistan acquainted with the negotiations, the United States and Iran are nearing an agreement on a one-page protocol to terminate the Gulf War. According to the Pakistani source, a previous story about the intended memorandum by the US media outlet Axios was correct. Two U.S. officials and two other people familiar with the conversations were quoted in the Axios piece.This will shortly be closed. The Pakistani source stated, “We are getting close.” Pakistan sponsored the first peace negotiations of the conflict last month, and it has continued to act as a mediator, bringing proposals between the parties.
Global oil prices plummeted due to reports of a potential agreement to halt the war; benchmark Brent crude futures fell more than 8% to almost $100 per barrel. On the hope of an end to a conflict that has hampered energy supply, bond yields decreased and global share prices surged. Requests for comment from the State Department, the White House, and Iranian officials contacted by Reuters were not immediately answered. According to an Iranian foreign ministry spokesperson cited by US news station CNBC, Tehran was considering a 14-point US proposal.
The White House thought it was getting close to a one-page memorandum to end the war with Iran, according to Axios. The assessment was released just hours after President Donald Trump of the United States halted a naval expedition to reopen the Strait of Hormuz that had been underway for three days. According to the Axios story, the United States anticipated Iranian comments on a number of crucial issues within the next 48 hours.
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