Trump Pushes Exit Strategy, US Submits Hormuz Memorandum to Iran via Pakistan
The United States and Iran were reportedly working on a new proposal to end the war on Wednesday, as President Donald Trump sought a way out of a conflict that has sent energy prices soaring and begun to pressure his position at home. Markets responded with stocks rallying and oil falling, with US crude falling back below $100 a barrel, as investors weighed the chances of de-escalation.
According to a person familiar with the move, Washington submitted a one-page memorandum of understanding that would gradually reopen the Strait of Hormuz and lift the US blockade of Iranian ports. Detailed negotiations on Iran's nuclear program would come at a later stage, and no agreement has yet been reached.
The offer came after 48 hours that illustrated Trump's dilemma in defusing the energy crisis that was helped by the US decision to strike Iran alongside Israel in late February. Trump also suspended a brief US mission to offer safe passage for commercial vessels through the strait, a vital route for oil and gas.
The urgency of diplomacy is also linked to next week's scheduled summit with Chinese President Xi Jinping, which was postponed early in the conflict due to the Middle East situation. Domestically, polls show U.S. dissatisfaction with the conflict is rising ahead of the midterm elections, while affordability is expected to be a major focus.
Energy pressures are evident in gasoline prices, which have reached $4.50 a gallon for the first time since July 2022, according to the American Automobile Association. This challenges Trump's promise that pump prices would fall sharply when the war ends, and heightens market concerns about whether the normalization of Hormuz can truly restore supply flows.
Iran is expected to submit a response through Pakistani mediators within the next two days, according to the same source, although state media has suggested some U.S. proposals remain unrealistic for the Iranian leadership. Trump himself has repeatedly said a deal is close, but nothing has materialized, and he admitted to the New York Post that it may be "too early" to think about face-to-face talks.
On social media on Wednesday, Trump declared that the US would end its military campaign and lift the blockade of Hormuz “assuming” Iran agrees to what has been agreed, while warning that if it doesn’t, “the bombings will begin.” In Israel, the prospect of a deal has sparked concern: Prime Minister Benjamin Netanyahu’s government has vowed to keep up pressure on Iran until it is completely defeated and its nuclear, missile, and proxy militia programs are dismantled, and Netanyahu is said to be in discussions with US officials to understand the situation. (gn)
Source: Newsmaker.id
