Pakistan: The U.S. and Iran agree to continue negotiations, calling for a 45-day extension of the ceasefire! U.S. media: Saudi Arabia pressures the U.S. to abandon the blockade of the Strait of Hormuz.

Pakistan: The U.S. and Iran agree to continue negotiations, calling for a 45-day extension of the ceasefire! U.S. media: Saudi Arabia pressures the U.S. to abandon the blockade of the Strait of Hormuz.

Amid the deadlock in the US-Iran nuclear negotiations, multiple diplomatic efforts are accelerating, and the market faces a critical test in assessing the situation in the Middle East.

On the 14th, according to CCTV News citing Pakistani diplomatic sources, the US and Iran have agreed to continue negotiations, but disagreements remain regarding the agenda, objectives, form, and location of the next round of talks.

Meanwhile, Pakistan has called for the temporary ceasefire to be extended by 45 days to create a window for the second formal round of negotiations. US Vice President Vance stated that progress has been made in the negotiations, but “the ball is in Iran’s court.”

These diplomatic signals have renewed market hopes for a peaceful resolution. On Tuesday, international oil prices declined: May WTI crude futures fell nearly 2% to around $97 per barrel, and June Brent crude futures fell 1% to $98.46 per barrel. Investors are weighing the dual signals between escalation of blockades and continuation of negotiations.

Negotiations Agreed to Continue, Location Dispute Awaiting Resolution

According to CCTV News, Pakistani diplomatic sources revealed that although the US and Iran have agreed to continue negotiations, they have not yet reached consensus on the specific arrangements for the next round of talks. Iran prefers Islamabad as the venue for the talks, citing its proximity, familiarity between the parties, and satisfaction with Pakistan’s role as mediator. The US side is considering other alternatives.

Two unnamed Pakistani officials stated that Pakistan has proposed holding the second round of talks in Islamabad within the coming days before the ceasefire period ends. Whether this proposal can be realized will depend on whether any parties request a change of venue. One of the officials emphasized that although the first round of negotiations did not result in a deal, “this is still part of an ongoing diplomatic process, not a one-time effort.”

Pakistani Mediation: 45-Day Ceasefire Extension Sought

According to CCTV International citing Pakistan’s “Dawn” newspaper, Pakistani diplomatic sources said that Pakistan is actively advocating for the temporary US-Iran ceasefire to be extended by 45 days.

Since the end of the first round of talks last weekend, Pakistan has engaged with various parties by phone, seeking to build broad consensus. Pakistan aims to extend the ceasefire or restore US-Iran contacts at the technical level to pave the way for the second formal round of negotiations. It is reported that intermediaries have been facilitating information exchanges between the US and Iran on unresolved issues and hope to persuade both sides to extend the ceasefire for at least 45 days.

Vance: The Ball Is in Iran’s Court

According to Xinhua, US Vice President Vance said in a Fox News interview on the 13th that progress has been made in US-Iran talks, and now “the ball is in Iran’s court,” with the key being whether Iran can show “enough flexibility.” Vance said that during the talks in Pakistan, the parties engaged in “some productive exchanges,” and Iran showed some flexibility, but “not enough.” Asked whether talks would be held again, Vance said that “it’s best to ask the Iranian side directly.”

The Iranian side has also expressed a willingness to continue negotiations. According to Xinhua, Iranian President Pezeh Kiziyan said during a phone call with French President Macron on the 13th that Iran is willing to continue negotiations with the US within the framework of international law and will abide by the terms of the ceasefire, while pointing out that previous US “excessive ambitions” hindered the agreement’s conclusion.

Saudi Pressure: Warning of Chain Risks from Blocking the Strait of Hormuz

According to the Wall Street Journal on the 13th, Saudi Arabia is pressuring the US to abandon the blockade of the Strait of Hormuz and return to the negotiating table. Saudi Arabia’s core concern is that such US actions might prompt Iran to escalate, thereby disrupting other major shipping routes.

The report cited Gulf state officials saying, “Saudi Arabia has warned that Iran might retaliate by blocking the Bab-el-Mandeb Strait, a Red Sea route vital for Saudi Arabia’s remaining oil exports.” Although Hormuz shipping has been disrupted, Saudi Arabia recently has been using desert pipelines to deliver crude oil to Red Sea ports, successfully restoring oil exports to approximately 7 million barrels daily, back to pre-war levels. However, Yemen’s Houthi forces control large stretches of coastline near Bab-el-Mandeb; if the Red Sea export route closes, Saudi oil exports will face direct risk.

The report also quoted Saudi energy officials as saying that Saudi Arabia has received assurances from the Houthi armed group that they will not attack Saudi ships passing through Bab-el-Mandeb. However, the report noted that if Iran increases pressure, the Houthis may intervene more actively in Iran’s conflict—“they might even start charging transit fees for passing ships.”

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