Pakistan says US, Iran close to some arrangement: report
Pakistan on Tuesday indicated that the US and Iran were close to reaching an arrangement that could ease tensions which have embroiled energy markets. “Things are shaping up again in favour of a peace arrangement or a deal,” Defence minister Khawaja Asif told Bloomberg News on Tuesday. “The signals in the last two, three days are that we are close to some sort of an arrangement.” Pakistan has…
On Tuesday, Pakistan indicated that the US and Iran were nearing an agreement that could reduce tensions which have impacted energy markets. Defence Minister Khawaja Asif told Bloomberg News that signals in the past few days suggest a peace deal is "shaping up." Pakistan has been actively involved in mediation efforts to de-escalate the conflict, which began with US and Israeli strikes on February 28, 2026, and Iran's retaliations.
The efforts have been supported by regional and international partners like China, Saudi Arabia, Turkiye, Egypt, and the UN. Following Asif's remarks, global oil prices fell, with Brent crude futures dropping 21 cents to $87.51 a barrel and US West Texas Intermediate crude futures declining 4 cents to $82.09. On Monday, US President Donald Trump countered Iran's conditions for a peace deal with his own demands for Iran to pay compensation for war-related deaths and attacks, potentially complicating efforts to reopen the Strait of Hormuz.
Later, Trump claimed US control over the strategic oil waterway and that it had been cleared of Iranian mines. Before the Iran conflict started in late February, around one-fifth of global daily oil and liquefied natural gas supplies passed through the Strait of Hormuz.
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