Iran sends new proposal for talks with US to mediator Pak amid Hormuz blockade
Iran has sent a new proposal for talks with the US to Pakistani mediators amid the Strait of Hormuz blockade, causing a brief drop in global oil prices. The move comes as military threats and uncertainty over the next US step keep markets on edge.
Iran has sent a fresh proposal for talks with the US to Pakistani mediators amid the Strait of Hormuz blockade. The Iranian state news agency IRNA reported this on Friday. Global oil prices dropped after the report but remained poised for a 4.5% gain over the week. The blockade has choked off 20% of the world's oil and gas supplies. The US Navy is blocking exports of Iranian crude oil, pushing up energy prices and increasing concerns of an economic downturn. Iran has activated air defenses and plans a wide response if attacked, assessing a possible short, intensive US strike followed by an Israeli attack.
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