Intensified diplomatic efforts are underway as US President Donald Trump circulates a draft peace proposal aimed at resolving the ongoing Iran conflict. The plan, shared with key allies including Israel, seeks to maintain a fragile ceasefire while advancing negotiations for a comprehensive settlement. Central to the proposal is the reopening of the Strait of Hormuz to unrestricted commercial shipping, lifting the US blockade on Iranian ports, and granting Iran access to frozen assets worth billions. A 60-day negotiation timeline is also proposed to tackle the future of Iran’s nuclear program.
Within this framework, maritime activities through the strategic Strait of Hormuz are expected to resume normalcy within 30 days. Core negotiation points include managing Iran’s highly enriched uranium stockpile, future enrichment activities, and enhanced monitoring by the International Atomic Energy Agency (IAEA). Additionally, Iran would pledge not to pursue nuclear weapons. US Vice President JD Vance expressed optimism about nearing an agreement but acknowledged persisting disagreements over uranium enrichment and the management of existing nuclear materials.
The diplomatic process, facilitated significantly by Pakistan, involves indirect discussions between Washington and Tehran. Pakistan’s Foreign Minister Ishaq Dar is scheduled to meet US Secretary of State Marco Rubio in Washington to further these talks. Meanwhile, regional tensions remain high, underscored by recent military incidents between US and Iranian forces, which threaten the ceasefire’s stability and increase the risk of renewed conflict.
The proposed agreement has sparked debate among regional players, with Israel expressing concerns that the framework delays crucial decisions regarding Iran’s nuclear agenda. Discussions continue around sanctions relief and the security of maritime routes. The Strait of Hormuz, critical for global energy supplies, remains a focal point, with Iran asserting its role in managing the waterway while the US insists on unrestricted navigation and opposes any future toll systems for commercial shipping.
As these negotiations progress, the oil market remains vigilant, with investors closely monitoring developments due to the Strait’s vital role in international energy supplies. Analysts emphasize the importance of the coming weeks in potentially transforming the ceasefire into a broader diplomatic agreement, aiming to reduce regional tensions and stabilize global energy markets.