The Trump administration is showing hope for an end to the war on Iran — even as it poses new threats
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The Trump administration expressed optimism on Wednesday about reaching an agreement to end the war with Iran, while also warning of increased economic pressure against Tehran if it remains defiant.
US President Donald Trump said he believes the war he launched with Israel in late February is almost over, just as the ban on shipping he announced went into effect and traffic through the Strait of Hormuz remained below normal levels.
The United States has warned it could add a second round of sanctions on Iranian oil buyers in an apparent bid to gain leverage ahead of more talks, weeks after Washington eased enforcement of some energy sanctions on Iran.
US and Iranian officials were looking to return to Pakistan to resume talks early next weekend, after talks ended on Sunday without success.
“We feel good about the prospects for a deal,” White House press secretary Caroline Leavitt said at a press conference, calling the talks with Pakistan “productive and ongoing.” He denied reports that the US has formally requested an extension of the two-week ceasefire agreed by both sides on April 8.
White House Press Secretary Caroline Leavitt says the US remains engaged in ongoing negotiations with Iran following the first round of talks. The talks include a possible extension of the two-week ceasefire. Treasury Secretary Scott Bessent announced that the US wants to stop the international funds of the Iranian leadership and is willing to impose a second set of sanctions on countries that continue to buy Iranian oil.
No new conversations are guaranteed
More in-person talks have not been confirmed but will also take place in Pakistan, Leavitt said.
Pakistan Army confirmed that Field Marshal Asim Munir arrived in Tehran on Wednesday. A senior Iranian source told Reuters that Munir, who was the final mediator in the talks, would seek to “narrow the gaps” between the two sides.
Iran’s Foreign Minister Abbas Araqchi sent a message to X welcoming Munir and said Iran is committed to “promoting peace and stability in the region.”
Talks last weekend broke down without an agreement to end the war, which Trump struck with Israel on February 28, fueling Iran’s attacks on Iran’s neighbors in the Persian Gulf and sparking clashes between Israel and Iran-backed Hezbollah in Lebanon.
Andrew Chang explains what is stopping the US and Iran from reaching a peace deal following six weeks of ongoing war and the latest marathon negotiating session in Pakistan. Photos provided by The Canadian Press, Reuters, Adobe Stock and Getty Images
Economic pressure on Iran
US Treasury Secretary Scott Bessent, speaking alongside Leavitt, predicted that China’s purchases of Iranian oil would “slow down” given the US ban on ships calling at Iranian ports. He said the US could impose a second round of sanctions on countries that buy Iranian crude.
The US Treasury has warned two unnamed Chinese banks not to process Iranian money or face disciplinary action, he said. China previously bought more than 80 percent of Iran’s oil exports.
“The Iranian people should know that this will be the financial equivalent of what we have seen in kinetic operations,” Bessent said, referring to a campaign of US and Israeli airstrikes that killed dozens of Iranian leaders and damaged its defense and naval forces.
He also said that the US will not renew the waiver that allows the purchase of some Russian and Iranian oil without facing US sanctions.
The moves signal an end to the Trump administration’s efforts to use the waiver to free up more oil resources and rising global energy prices. The war has resulted in Iran effectively closing the Strait of Hormuz – a key conduit for crude oil and gas shipments around the world – to shipping outside it, drastically reducing exports from the Gulf and leaving energy importers scrambling for alternatives.
The International Monetary Fund said on Tuesday that a war with Iran could cause a global economic downturn if conflicts in the region continue to escalate, which would also affect energy costs.
Blocked tanks
During the first 48 hours of the US blockade on ships entering and leaving Iranian ports, no ships have passed American forces, the US military said. In addition, nine ships complied with instructions from the US military to turn around and return to an Iranian port or coastal area.
However, the Iranian news agency Fars News said that a large Iranian tanker under US sanctions crossed the road towards Imam Khomeini port despite the blockade. The Fars did not identify the tanker or provide any other details about its journey.
Iran’s joint military command has warned it will halt trade in the Gulf, the Sea of Oman and the Red Sea – which connects to the Suez Canal – if the US blockade continues.
Trump has also threatened to escalate if the war resumes.
“We could take out one of their bridges in one hour. We could take out all their power plants, power plants, in one hour. We don’t want to do that … so we’ll see what happens,” he told Fox Business Network.
