Overview
- Iran is expected to deliver its response on Thursday through Pakistani mediators to a draft one‑page memorandum that would end hostilities and launch 30 days of talks on nuclear limits, sanctions relief and reopening the Strait of Hormuz.
- President Donald Trump said a deal is very possible and warned bombing would resume at greater intensity if Iran rejects the offer, as he paused the short‑lived Project Freedom ship‑escort effort while keeping the naval blockade in place.
- U.S. Central Command said American forces on Wednesday disabled an Iranian‑flagged tanker headed toward an Iranian port in violation of the blockade, underscoring that military pressure continues during the diplomacy.
- Iranian officials and semi‑official media pushed back on reports of a near‑final agreement, with a parliamentary spokesman calling the U.S. text an American wish list and Fars news agency labeling some leaked details fabricated.
- Hopes for an agreement pulled oil prices lower on Wednesday, reflecting the strait’s role in moving roughly one‑fifth of seaborne oil and the prospect that unblocked shipping could ease fuel costs and supply snarls felt by businesses and drivers.