Pakistan — Ekhbary News Agency
Iranian Foreign Minister Abbas Araghchi arrived in Pakistan, attributing the failure of prior peace negotiations to the United States, shortly before heading to Russia for a meeting with President Vladimir Putin. Iranian state media quoted Araghchi stating, "The U.S. approaches caused the previous round of negotiations, despite progress, to fail to reach its goals because of the excessive demands." He further emphasized that "safe passage through the Strait of Hormuz is an important global issue," as the US and Iran maintain rival blockades of the vital waterway.
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The Iranian Foreign Minister was in Russia on Monday to meet with President Vladimir Putin as part of a regional tour that included stops in Pakistan and Oman. According to Iran's state-run IRNA news agency, Pakistan-led mediators are working to bridge significant gaps between the U.S. and Iran, as confirmed by a regional official involved in the mediation efforts who spoke to The Associated Press on the condition of anonymity. Oil prices saw an increase when the market opened on Sunday, as traders processed the news of stalled ceasefire talks. West Texas Intermediate crude rose 2% to $96.50 a barrel since Friday's close, and Brent crude traded at $107.75 per barrel, up about 3%. These price hikes reflect the ongoing disruptions and the strategic importance of the Strait of Hormuz, which has seen tankers stranded due to the conflict.
