US–Iran Truce Wobbles as Iran Restricts Hormuz and Islamabad Talks Loom

Overview

• A two‑week ceasefire announced Tuesday by Pakistan quickly came under strain, with reported breaches and renewed limits on tanker traffic through the Strait of Hormuz.
• President Donald Trump said the truce does not cover Lebanon, while Pakistan and Iran said it does, and Israel carried out major strikes on Hezbollah targets.
• Pakistani Prime Minister Shehbaz Sharif said violations were reported across the conflict zone and urged all sides to honor the two‑week pause to let diplomacy proceed.
• The White House confirmed direct US–Iran talks for Friday in Islamabad, with Vice President J.D. Vance leading a delegation that includes Middle East envoy Steve Witkoff and Jared Kushner.
• Markets gave back part of Tuesday’s relief as oil prices rebounded and shippers faced uncertainty, with Brazilian exporters in Espírito Santo reporting higher freight and insurance costs and disrupted routes.