.jpg)
1 hour ago
3
Article content
(Bloomberg) — The US is waiting on Iran to respond to its proposal to reopen the Strait of Hormuz and end a war that’s killed thousands of people and triggered a surge in energy prices.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Iran is expected to give an answer in the coming days. Its leaders are yet to indicate whether they’ll accept it, though they’ve previously show little sign of yielding on their nuclear program and accepting a moratorium on enriching uranium, which the American proposal calls for.
Article content
Article content
Washington has relayed a one-page memo to the Islamic Republic that could reopen the strategic Strait of Hormuz and lift the US blockade of Iranian ports, according to a person familiar with the matter, who asked not to be identified discussing sensitive information. That would set the stage for a month of talks aimed at securing a final peace agreement.
Article content
Article content
Should the negotiation get to that stage, the sides will discuss Iran’s nuclear activities. US President Donald Trump has repeatedly said the objective of the war is to prevent Tehran having a nuclear weapon, something Iran has always denied. Trump said Wednesday the US is “going to get” the Islamic Republic’s stockpile of highly enriched uranium as part of the agreement, though there’s been no indication Tehran is willing to make that concession.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The US will start a broader and more intense bombing campaign if Iran rejects the initial 14-point peace plan, Trump said earlier in a social media post. He told PBS News Hour he believes there’s “a very good chance” of a deal, possibly before his scheduled visit of Chinese President Xi Jinping next week.
Article content
Iran’s top leadership has yet to comment on the proposal. State-affiliated news agency ISNA said reports on elements of the proposal amount to “media speculation and atmosphere-building,” adding that nuclear enrichment is not part of the current discussions.
Article content
Supreme Leader Mojtaba Khamenei said last week Iran would not give concessions on its nuclear program, describing it as a “national asset” that Iranians would protect at all cost.
Article content
Article content
Other outstanding issues include limits on Iran’s ballistic missile program and its support for allied militant groups such as Lebanon’s Hezbollah.
Article content
Those remain a priority for Israel, which has been fighting a parallel war against Hezbollah across its northern border. The Israeli military on Wednesday targeted a senior Hezbollah commander with airstrikes near Lebanon’s capital, Beirut, for the first time since a ceasefire between the US and Iran took hold a month ago.
Article content
Israeli officials struck a cautious tone on the latest US push to wind down the campaign against Iran. Ambassador to the United Nations Danny Danon told Army Radio on Thursday that “we need to wait and not come out with declarations and headlines” about a potential deal.
Article content
Prime Minister Benjamin Netanyahu said Israel is in close coordination with the US on peace efforts with “no surprises.”
Article content
Oil declined 2.2% on Thursday to below $100 a barrel after a week of sharp swings. Clashes in the Strait of Hormuz triggered a surge in Brent crude to nearly $115 a barrel on Monday, before sliding below $97 on Wednesday as Iran said it was evaluating the proposal.
English (US)