Donald Trump: United States President Donald Trump has announced that America is putting a temporary pause on “Project Freedom”, an initiative aimed at ensuring the smooth and seamless movement of ships via the strategic Strait of Hormuz.
In a post on Truth Social, the US President commented that we have mutually agreed to put a temporary pause on the operation after receiving requests from Pakistan and several other countries.
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Trump remarked that negotiations with representatives from the Islamic Republic of Iran are moving closer to a “final and complete agreement.” Trump added that both countries (USA and Iran) have made significant progress toward finalizing a peace deal.
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Trump added that USA armed forces would continue to exert pressure on Iran despite the pause in maritime operations. The US President remarked that a temporary pause has been put on Project Freedom while the Strait of Hormuz blockade stays in full force. The US President the decision has been taken to test the viability of diplomacy.
Under the Project Freedom initiative, USA was guiding ships out of high-risk or restricted waters so that normal operations could be resumed at the earliest. Trump had claimed that many vessels around the Hormuz Strait were running low on essential supplies and food that are required for large crews onboard.
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Brent Crude prices are now prevailing at $108.11 a barrel and WTI Crude is priced at $100.69 a barrel. The Indian Sensex rose over 150 points while Nifty is trading above 24100 as global markets are expecting a quicker resolution to the ongoing Middle East crisis and falling crude oil prices. Eased domestic inflation concerned and lifted investor sentiment also contributed to the performance of Indian markets.
Auto index rose 1.7 percent to lead the sectoral gains; domestic political signals also boosted market confidence around policy continuity and stability.
