Donald Trump: United States President Donald Trump announced an indefinite extension of the ceasefire with the Islamic Republic of Iran. The extension would remain active until the leaders from Iran present a unified proposal and the ongoing discussions come to a mutually-beneficial end. The US President credits Pakistan Army General Asim Munir for the peace talks. With a ceasefire extension, oil prices fell down and global markets are eyeing recovery after a long time.
Donald Trump-Ceasefire Extension Announced
In a post on Truth Social, the United States President remarked that Pakistan has requested USA to delay further military action and allow diplomacy time and therefore it is extending the ceasefire. Trump said the request came directly from Asim Munir and Prime Minister Shehbaz Sharif.
Strait Of Hormuz Blockade Continues
Trump commented that the US Military has been ordered to continue the blockade of the Strait of Hormuz.
In another development, US Vice-President JD Vance didn’t depart for Pakistan after it was confirmed by USA that there was no need for the trip as of now.
Abbas Araghchi, the Minister of Foreign Affairs of Iran, posted on X, that the United States is completely wrong to block Iranian ports and it is a serious violation of the ceasefire agreement. Araghchi further added that striking a commercial vessel of Iran and taking its crew as hostages is even a bigger violation.
Market Reactions
Asian markets demonstrated a mixed trend on early Wednesday morning. Meanwhile, oil prices softened over potential peace talks between USA and Iran. Japan’s Nikkei 225 rose, South Korea’s Kospi edged slightly lower, Taiwan’s Taiex outperformed, Hong Kong’s Hang Seng fell 1.3 percent and China’s Shanghai Composite posted a modest gain of 0.1 percent. Brent Crude remained above $98 a barrel.
Gold prices fell down 2 percent in international markets, Nifty was down 90 points and Sensex fell over 300 points in early Wednesday trading.
