Washington: Diplomatic efforts to end the ongoing conflict between Iran and the United States–Israel bloc have suffered a major setback, dimming hopes of a ceasefire after two months of escalating tensions.
The breakthrough appeared unlikely after US President Donald Trump abruptly cancelled the planned Islamabad visit of his envoys Steve Witkoff and Jared Kushner. At the same time, Iran’s Foreign Minister Abbas Araghchi returned from Pakistan without any concrete outcome.
Deadlock over conditions
Diplomatic sources indicate that Tehran has refused to accept what it calls “one-sided demands” from Washington. Despite describing his Pakistan visit as “constructive,” Araghchi’s return empty-handed signals that both sides remain firm on their positions.
The withdrawal of US negotiators has effectively stalled backchannel talks, leaving ceasefire prospects uncertain.
Global economic impact deepens
The ongoing conflict has triggered volatility in global markets, particularly due to the direct involvement of a major economic power like the United States and a key oil producer like Iran.
Crude oil prices have surged to multi-year highs, raising concerns over inflation and economic slowdown worldwide. Experts warn that if the diplomatic deadlock continues, it could significantly impact global economic growth and stability.
