Tehran responds to US peace proposal via Pakistan conduit; drone attacks reported in Gulf region

TEHRAN: Iran has reportedly conveyed its response to a proposed peace memorandum aimed at ending the West Asian conflict to the United States via Pakistan. While the specific details of the response remain classified, it is currently unclear whether Iran has accepted or rejected the proposal. The situation remains volatile; U.S. President Donald Trump has warned of a swift and powerful military resurgence should these peace efforts collapse.

The memorandum consists of a single-page document featuring 14 key points. If both nations sign the agreement, hostilities are expected to cease immediately, followed by a 30-day window to finalise a comprehensive nuclear deal.

Recent escalations

Simultaneous with these diplomatic manoeuvres, drone strikes attributed to Iran have been reported in the UAE, Kuwait, and Qatar. A British cargo ship reportedly caught fire off the coast of Qatar; however, no casualties have been confirmed. These incidents follow Tehran's recent threats to target any nation assisting U.S. operations in the region and to retaliate for U.S. strikes against Iranian vessels in the Strait of Hormuz.

Iran’s core stance

According to regional reports, Iran’s primary conditions include:

• Permanent Ceasefire: A total cessation of hostilities rather than a temporary extension of the current ceasefire.
• Nuclear Assets: A refusal to transfer the country’s enriched uranium stockpiles to the United States.
• Sanctions Relief: A demand for the complete removal of international sanctions before offering further concessions.

Economic impact: One billion barrels lost

Amin Nasser, CEO of Saudi Aramco, stated that the conflict has resulted in a global market deficit of approximately a billion barrels of oil over the past two months. Nasser warned that even if trade through the Strait of Hormuz resumes immediately, it will take several months for the global energy market to stabilise.