- Iran’s conditions include a complete halt to aggression and assassinations, establishing a mechanism to make sure the war on the nation does not resume, as well as reparations for the war damage.
- The country is also seeking the recognition of Iranian sovereignty over the Strait of Hormuz, and an end to Israel’s attacks on Lebanon, as well as attacks on Iranian proxies across the region.
- The U.S. proposal includes sanctions relief, a rollback of Iran’s nuclear program with a provision allowing the IAEA to undertake monitoring, and the resumption of shipping through the Strait of Hormuz.
Iran has reportedly confirmed receipt of the U.S.-proposed 15-point ceasefire plan but criticized the terms highlighted in the proposal.
According to an Al Jazeera report citing a high-ranking diplomatic source, Iran described the ceasefire plan as “extremely maximalist and unreasonable.”
Meanwhile, according to a CNN report citing senior Trump administration officials, the White House is planning U.S.-Iran talks this weekend in Pakistan to discuss an off-ramp in the ongoing war.
Iran Lays Out Its Own Conditions
Another CNN report, citing Iranian state media outlet PressTV, stated that Iran has put forth its own conditions for ending the war in response to the U.S. proposal.
These conditions include a complete halt to aggression and assassinations, establishing a mechanism to make sure the war on Iran does not resume, reparations for the war damage, the recognition of Iranian sovereignty over the Strait of Hormuz, and an end to Israel’s attacks on Lebanon, as well as attacks on Iranian proxies across the region.
What Did The US Propose?
The ceasefire plan proposed by the U.S. includes sanctions relief, a rollback of Iran’s nuclear program, a provision allowing the International Atomic Energy Agency (IAEA) to conduct monitoring, and the resumption of shipping through the Strait of Hormuz.
Rejecting the U.S. proposal, Ebrahim Zolfaqari, a spokesperson for Iran's joint military command, said that President Donald Trump is negotiating with himself, according to a Reuters report.
“Has the level of your inner struggle reached the stage of you (Trump) negotiating with yourself? People like us can never get along with people like you,” Zolfaqari said, according to the report.
This comes after President Trump announced on Monday that the attacks on Iran’s energy infrastructure had been postponed for five days.
Crude Oil Cools Down
Crude oil prices eased on Wednesday. U.S. West Texas Intermediate (WTI) crude futures maturing in May fell more than 2% to hover around $90 per barrel. Brent crude futures expiring in June fell 4% to $97 per barrel.
The United States Oil Fund ETF (USO) fell over 2%, while the ProShares Ultra Bloomberg Crude Oil ETF (UCO) was down 3% at the time of writing.
Iran Warns Opening Other Fronts Possible, Says Report
According to a report by Tasnim News Agency, an Iranian military official said that Iran will open other fronts in the war if the enemy makes a move on Iranian islands.
“If the enemy wants to take action on land in the Iranian islands or anywhere else in our lands or to inflict costs on Iran with naval movements in the Persian Gulf and the Sea of Oman, we will open other fronts for them,” the source said, according to the report.
At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.7%; the Invesco QQQ Trust ETF (QQQ) rose 0.82%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.76%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘extremely bearish’ territory.
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