Oil Prices Swing as Truce Extension with Iran Calms Markets
In a statement posted on his Truth Social platform, Trump said the decision followed a request from Pakistan’s military leadership, including Field Marshal Asim Munir, as well as Prime Minister Shehbaz Sharif, who urged Washington to postpone renewed military action until Iran’s leadership could consolidate its position.
He stated, “I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other.” He also remarked in the same post that Iran’s leadership appeared to be “seriously fractured.”
The announcement came amid expectations that a US delegation led by Vice President JD Vance would travel to Islamabad for a second round of direct talks with Iranian representatives. However, the visit was reportedly delayed due to additional policy meetings at the White House, according to US officials.
The planned talks would have followed earlier high-level discussions held in Pakistan earlier this month, which concluded without any agreement or diplomatic breakthrough.
The ceasefire, initially introduced earlier in the month, was scheduled to expire on Wednesday before the extension was announced.
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