WASHINGTON/ISLAMABAD – President Donald Trump said a deal to end the war in Iran could be reached soon, although the timing remained unclear, while US allies were gathering on Friday to discuss reopening the vital Strait of Hormuz shipping route.
Trump said a two-week ceasefire, which ends next week, could be extended, although he did not believe that would be necessary as Tehran wanted a deal.
“We’re going to see what happens. But I think we’re very close to making a deal with Iran,” he told reporters, adding if an agreement was reached and signed in the Pakistani capital Islamabad, he may go there for the occasion.
In Islamabad, the venue of last weekend’s talks, troops were seen along routes leading into the capital on Friday, but roads were still open and the government had not issued orders for businesses to shut down, as they did prior to the last meeting.
The US-Israeli attack on Iran started on February 28 and has killed thousands of people and destabilised the Middle East. The conflict also effectively closed the Strait of Hormuz, through which a fifth of the world’s oil and liquefied natural gas transits, threatening the worst oil shock in history.
The International Monetary Fund this week lowered its forecasts for global growth and warned the global economy risked tipping into recession if the conflict was prolonged.
France and Britain will chair a meeting on Friday of around 40 countries aimed at signalling to the US that some of its closest allies are ready to help restore freedom of navigation in the Strait of Hormuz, but only once hostilities cease.
Trump had called on other countries to get involved in the war and criticised NATO allies for failing to do so.
According to a note sent to invited nations, the aim of the meeting is to reaffirm full diplomatic support for unfettered freedom of navigation through the waterway and the need to respect international law.
Iran has largely closed the strait to ships other than its own, while Washington this week imposed a blockade on ships entering or leaving Iranian ports.
Only a trickle of vessels have passed through the strait since the war started, compared with an average 130-plus each day before the conflict.
Optimism a deal may be close fuelled a strong rally in stocks this week, with global markets holding near record highs on Friday, while benchmark oil prices were pinned below $100 a barrel. (Reuters)
