Pakistan Resumes Mediation in US-Iran Conflict with Iran
Pakistan has resumed mediation in the US-Iran conflict and restarted diplomatic contacts surrounding the Strait of Hormuz. On the 24th, General Asim Munir, the Chief of Army Staff of Pakistan, and Minister of Interior Mohsin Naqvi visited Tehran, Iran. After their meeting, Minister Naqvi stated that there had been positive discussions and 'significant progress.' However, no specific agreement was made public. The Iranian side emphasized the need for a change in the US approach, asserting that the US must comply with international regulations. The Islamabad Memorandum serves as a temporary negotiation framework between the US and Iran, related to the navigation issues in the Strait of Hormuz. According to the Kepler report, this memorandum's 60-day negotiation window expired on August 17, with no agreements, extensions, or ongoing negotiations at that time. The oil market may be affected by disruptions in navigation through the Strait of Hormuz, and on the 24th, Brent crude closed down 2.35% at $92.17 per barrel.
-- Price
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