WASHINGTON: Oil prices rose on Sunday as Donald Trump sharply rejected Iran’s response to American proposals to end the war.
(Context: Iran and the US are involved in a conflict, with tensions rising over recent developments.)
Updated yesterday at 17:09:43 EST
By AFP bureaus in Tehran, Washington, Jerusalem, Beirut, and Dubai
“I have just read the so-called ‘representatives’ of Iran’s response. I don’t like it at all – IT IS TOTALLY UNACCEPTABLE!” wrote the American president in capital letters in a brief message on his Truth Social network on Sunday evening.
Before the opening of Asian markets, oil prices surged, with Brent crude gaining 3.29% to $104.62 per barrel on Sunday around 10:20 PM EST, as the prospect of a quick reopening of the Strait of Hormuz faded.
After more than a month of truce between the two belligerents, hopes of resolving the conflict are uncertain, as neither party has publicly disclosed their proposals.
(Fact Check: The US and Iran are involved in negotiations, but details of the talks remain undisclosed.)
After days of waiting, Iran announced on Sunday that it had responded to the American plan but did not provide details. Iranian public television reported that Tehran’s response, relayed through the Pakistani mediator, was “focused on ending the war [..] on all fronts, especially in Lebanon, and on ensuring maritime security.”
Reopening of the Strait
According to the Wall Street Journal, Tehran’s proposal reportedly includes a gradual reopening of the Strait of Hormuz and a simultaneous lifting of the US Navy’s blockade of Iranian ports.
Tehran is also reportedly prepared to “dilute” some of its enriched uranium and send the remainder to a “third country.”
Washington and many countries suspect Tehran of seeking nuclear weapons through uranium enrichment, which Iran denies, arguing for its right to civilian nuclear power.
Benjamin Netanyahu, the Israeli Prime Minister, called for dismantling enrichment sites and the removal of enriched uranium from Iran.
The conflict has led to thousands of deaths, mainly in Iran and Lebanon, with Netanyahu warning that the war is not over.
Drones in the Gulf
New attacks were reported on Sunday in the Gulf region. A vessel from Qatar was reportedly targeted by a drone in territorial waters, allegedly of US origin.
(Fact Check: Regional tensions are escalating with drone attacks in the Gulf, raising concerns about maritime security.)
After the US Navy targeted two Iranian tankers in the Gulf of Oman, tensions escalated, with Iran warning of strong retaliation against US ships and bases.
(Fact Check: The situation in the Gulf remains volatile, with ongoing threats of retaliation from Iran against US forces.)
The UK and France are working to establish an international coalition to secure the strait after a conflict resolution. Defense ministers from both countries will hold a virtual meeting with about forty counterparts to contribute to such a mission.
Tehran warned that any deployment would trigger an “immediate and decisive response” from the Iranian military, following Paris and London’s announcement of sending military assets to the region.
(Fact Check: International efforts are underway to secure the Strait of Hormuz and prevent further escalations in the conflict.)
