Bullion rose more than 3 per cent to its highest level since March 19
Israel and the United Arab Emirates both sounded missile alerts early Wednesday, despite Iran and the United States saying they had reached a two-week ceasefire in the war. It wasn't immediately clear what was being targeted in the two countries, which bore the brunt of the missile and drone fire during the war. Missile alerts also continued in Saudi Arabia, Bahrain and Kuwait early Wednesday, hinting at the chaos surrounding the diplomatic moves. Throughout the war, Iran's paramilitary Revolutionary Guard has called the shots in all decisions. Individual commanders have made decisions on what to strike and when, with the nation's political leadership sidelined. Whether they agreed to stop shooting with the declared ceasefire and negotiations being planned in Islamabad remained in question. However, many Mideast wars see combatants launch last-minute attacks to be able to claim victory with their populations.
The near-closure of the vital waterway for weeks has created an unprecedented global energy supply crunch, as Iran tightened its control in the aftermath of US and Israeli strikes
The near-closure of the vital waterway for weeks has created an unprecedented global energy supply crunch, as Iran tightened its control in the aftermath of US and Israeli strikes
Iran in the Farsi-language version of its 10-point ceasefire plan included the phrase "acceptance of enrichment" for its nuclear programme, something that was missing in English versions shared by Iranian diplomats to journalists. It wasn't immediately clear why that term was missing. However, US President Donald Trump had said ending Iran's nuclear programme entirely was a key point of the war. Trump, after Iran issued its 10-point plan, had described it as fraudulent, without elaborating.
Iran in the Farsi-language version of its 10-point ceasefire plan included the phrase "acceptance of enrichment" for its nuclear programme, something that was missing in English versions shared by Iranian diplomats to journalists. It wasn't immediately clear why that term was missing. However, US President Donald Trump had said ending Iran's nuclear programme entirely was a key point of the war. Trump, after Iran issued its 10-point plan, had described it as fraudulent, without elaborating.
Pro-government demonstrators in the streets of Iran's capital Wednesday morning after the ceasefire had been announced screamed: "Death to America, death to Israel, death to compromisers!" Organisers tried at a point to calm demonstrators, but they continued the chants. They also burned American and Israeli flags in the street. It shows the ongoing anger from hard-liners, who had been preparing for what many assumed would be an apocalyptical battle with the US.
By choking off shipments from the energy-rich Gulf region, the war has triggered a "negative supply shock, meaning that it pushes prices up, said Kristalina Georgieva
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Pakistan on Wednesday invited the US and Iran for talks in Islamabad on Friday. Prime Minister Shehbaz Sharif in a social media post announced that the US and Iran, along with their allies, have agreed to an immediate ceasefire amid the ongoing West Asia conflict. "With the greatest humility, I am pleased to announce that the Islamic Republic of Iran and the United States of America, along with their allies, have agreed to an immediate ceasefire everywhere, including Lebanon and elsewhere, effective immediately," he said. Sharif said Pakistan has invited delegations from both countries to Islamabad on April 10 for face-to-face talks aimed at reaching a conclusive agreement "to settle all disputes". The prime minister expressed hope that the proposed "Islamabad Talks" would help achieve sustainable peace and stability in the region. The development follows Pakistan's diplomatic efforts to de-escalate the conflict that began on Feb 28 and had reached a turning point after US Preside
Pakistan on Wednesday invited the US and Iran for talks in Islamabad on Friday. Prime Minister Shehbaz Sharif in a social media post announced that the US and Iran, along with their allies, have agreed to an immediate ceasefire amid the ongoing West Asia conflict. "With the greatest humility, I am pleased to announce that the Islamic Republic of Iran and the United States of America, along with their allies, have agreed to an immediate ceasefire everywhere, including Lebanon and elsewhere, effective immediately," he said. Sharif said Pakistan has invited delegations from both countries to Islamabad on April 10 for face-to-face talks aimed at reaching a conclusive agreement "to settle all disputes". The prime minister expressed hope that the proposed "Islamabad Talks" would help achieve sustainable peace and stability in the region. The development follows Pakistan's diplomatic efforts to de-escalate the conflict that began on Feb 28 and had reached a turning point after US Preside
China, which is Tehran's biggest trade partner, spoke with the Iranians to get them on board to look for a path toward a ceasefire in war with the US, sources said. Chinese officials were in touch with Iranian officials as the negotiations were evolving, two officials who were not authorised to comment publicly spoke on condition of anonymity. Beijing primarily had been working with intermediaries, including Pakistan, Turkey and Egypt, as it tried to use its influence, said one of the officials. The Chinese foreign ministry did not immediately respond to a request for comment. Earlier Tuesday, Mao Ning, a spokesperson for the Chinese foreign ministry, said, "All parties need to demonstrate sincerity and quickly end this war that should not have happened in the first place." She said China was "deeply concerned" about the impact the conflict has on the world economy and energy security.
China, which is Tehran's biggest trade partner, spoke with the Iranians to get them on board to look for a path toward a ceasefire in war with the US, sources said. Chinese officials were in touch with Iranian officials as the negotiations were evolving, two officials who were not authorised to comment publicly spoke on condition of anonymity. Beijing primarily had been working with intermediaries, including Pakistan, Turkey and Egypt, as it tried to use its influence, said one of the officials. The Chinese foreign ministry did not immediately respond to a request for comment. Earlier Tuesday, Mao Ning, a spokesperson for the Chinese foreign ministry, said, "All parties need to demonstrate sincerity and quickly end this war that should not have happened in the first place." She said China was "deeply concerned" about the impact the conflict has on the world economy and energy security.
Iraq also called for building on this positive step by launching serious and sustainable dialogue tracks that address the root causes of the disputes and enhance mutual trust
Iraq also called for building on this positive step by launching serious and sustainable dialogue tracks that address the root causes of the disputes and enhance mutual trust
Iran's Supreme National Security Council claimed that the US pushed for a ceasefire for over a month, but Iran repeatedly rejected the deadlines, prioritising the country's objectives
Oil prices plunged and US stock futures jumped after President Donald Trump said he would hold off on his threat of devastating attacks on Iran for two weeks if the Iranians agree to allow ships to pass through the Strait of Hormuz. Futures for US crude oil sank 18% to around $92.60 while Brent crude oil futures fell about 6% to $103.40. Both prices remain well above where they were at the start of the war. Futures for the S&P 500 rose 2.4%. Trump said Iran has proposed a "workable" 10-point peace plan that could help end war the US and Israel launched on Feb 28.
The US military has halted all offensive operations against Iran, an official said. The official, who spoke on condition of anonymity to describe sensitive military operations, noted that defensive measures and operations would still be in effect. It comes after President Donald Trump announced a two-week ceasefire agreement with the Islamic Republic.
The US military has halted all offensive operations against Iran, an official said. The official, who spoke on condition of anonymity to describe sensitive military operations, noted that defensive measures and operations would still be in effect. It comes after President Donald Trump announced a two-week ceasefire agreement with the Islamic Republic.
In a post on Truth Social, Trump shared Iran's official statement in the name of Foreign Minister Abbas Araghchi