High-Stakes Talks: Trump Weighs Extending Ceasefire with Iran

U.S. President Donald Trump announced he would determine on Friday whether to engage in a deal with Iran that aims to extend the existing ceasefire. A critical component of the potential agreement includes reopening the Strait of Hormuz and ensuring Iran halts nuclear weapon production. As Trump prepares to make a final decision in the Situation Room, sources indicate that negotiations have been underway since early April to resume oil shipments while addressing Iran's nuclear ambitions.

In a statement, Trump emphasized that Iran must never develop nuclear weapons, and the key shipping channel must remain open for free passage. Meanwhile, Iranian sources suggest a political understanding has been reached, but not finalized. Iran's Fars agency challenges some of Trump's remarks as misleading, clarifying that the current agreement involves releasing frozen assets but not dismantling nuclear materials as claimed.

The conflict, initiated by the U.S. and Israel in late February, has caused significant human casualties and global economic strain due to disrupted oil trade. While oil prices dipped and stock markets climbed in response to the suggested deal, diplomatic efforts are intensifying. Kazakhstan might accept Iran's uranium stockpile if progress is made, and Pakistan's foreign minister is engaging in crucial talks with U.S. officials. Iran insists on lifting sanctions and an end to U.S. military presence as part of the peace efforts amidst ongoing Israeli military actions in Lebanon.

(With inputs from agencies.)