Trump says US delegation will travel to Islamabad on Monday, Iran declines talks

Key Points:

• Iran has declined to participate in new peace talks with the US, citing Washington's "excessive demands," shifting positions, and a naval blockade it considers a ceasefire violation, according to Iran's IRNA news agency.
• US President Donald Trump announced the seizure of an Iranian-flagged cargo ship near the Strait of Hormuz and threatened strikes against Iran if it does not accept US terms.
• The US maintains a blockade of Iranian ports, while Iran has intermittently blocked marine traffic through the Strait of Hormuz, a critical route for nearly 20% of the world's oil supply, escalating tensions and disrupting global energy markets.
• US envoys, led by Vice President JD Vance and including Steve Witkoff and Jared Kushner, are scheduled to arrive in Pakistan for talks, with Pakistan acting as the main mediator, though Iran has rejected participation in the upcoming round.
• The ongoing conflict, now in its eighth week, has caused severe shocks to global oil supplies, pushing prices higher amid fears of renewed hostilities; meanwhile, diplomatic efforts face challenges amid rising political pressure on Trump ahead of US midterm elections.