Iran’s top diplomat in Russia for Putin meeting as US peace talks stall

Key Points:

• Iran has proposed reopening the Strait of Hormuz contingent on the US ending the war and providing guarantees against its resumption, with nuclear program negotiations to follow later; the White House maintains it holds the negotiating power and demands deals prioritizing American interests.
• Diplomatic efforts continue with Iran’s Foreign Minister Abbas Araghchi engaging with Oman, Pakistan, and Russia, including a meeting with President Vladimir Putin, while US-Iran talks remain stalled and President Trump canceled a planned envoys' trip to Pakistan citing unsatisfactory Iranian proposals.
• The Strait of Hormuz remains effectively closed to tanker traffic amid a US blockade, causing significant disruptions to global oil supplies; Goldman Sachs and Citi have raised their crude oil price forecasts due to prolonged supply risks, with Brent crude nearing $108 a barrel.
• Israeli military actions in southern Lebanon have resulted in civilian casualties and infrastructure damage, including alleged destruction of solar panels and looting by troops, prompting investigations and disciplinary measures by the Israel Defense Forces.
• Piracy threats off the Somali coast have escalated with two cargo vessels hijacked recently, leading maritime authorities to issue warnings and raise the piracy threat level, further complicating global shipping routes amid ongoing regional conflicts.