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The US-Iran peace process has encountered a significant setback as recent talks have concluded without a deal. The negotiations, which aimed to revive the stalled nuclear agreement, ended without an agreement on a new framework. The lack of a deal has raised concerns about the future of diplomatic efforts between the two nations. The US and Iran have been engaged in indirect talks for several months, with the goal of reviving the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal. The JCPOA was withdrawn from by the US in 2018, leading to a significant escalation in tensions between the two countries. Despite efforts to revive the agreement, the talks have stalled, and it remains unclear what the next steps will be. The outcome of the talks has significant implications for regional stability and the global community's efforts to prevent the proliferation of nuclear weapons. As the situation continues to unfold, the international community remains cautious about the prospects for a renewed agreement.

The recent ceasefire talks between the United States and Iran have ended without a breakthrough, with Iran's chief negotiator, Mohammad Bagher Ghalibaf, blaming the US for the failure of the talks held in Islamabad, Pakistan. The talks, which were the first direct engagement between the two countries at this level since the 1979 Iranian Revolution, exposed deep divisions on core issues.The US framed the lack of a breakthrough primarily around Iran's alleged refusal to meet its core demand: a firm commitment not to develop nuclear weapons. US Vice President JD Vance said Washington had made its 'red lines' clear and presented what he described as a 'final and best offer'. However, Iran downplayed expectations and blamed the US for making unreasonable demands.The main sticking points between Tehran and Washington are:Iran's nuclear programme: The US wants a clear and enforceable commitment that Iran will not develop nuclear weapons – or even the capability to do so quickly. Iran has consistently rejected accusations that it seeks to build nuclear weapons but said it is willing to negotiate limits on its nuclear activities if sanctions are removed.Strait of Hormuz: Who gets to control this strategic waterway, through which almost all of the oil and natural gas exports from the Gulf nations pass, has become a major flashpoint. Iran has floated the idea of charging transit fees to allow ships to pass through the strait, while the US is adamant the strait is reopened free of any tolls.The near shutdown of shipping through the strait has sent global energy prices soaring with many countries, especially in Asia, forced to implement unprecedented austerity measures to soften the impact of fuel shortages. Experts said the near-closure of the strait has caused the worst economic shock since the 1973 oil embargo.

The United States and Iran left Islamabad without a peace deal, ending the most senior diplomatic encounter between the two nations since the 1979 Islamic Revolution. Vice President JD Vance, who led the U.S. delegation, told reporters that Tehran "refused to accept our terms" after a marathon 21‑hour session. Vance emphasized that the United States requires a "fundamental commitment" from Iran not to pursue nuclear weapons or the associated delivery systems. "We need an affirmative pledge that they will not seek a nuclear weapon, and they will not seek the tools that would enable them to quickly achieve a nuclear weapon," he said. Iran’s Ministry of Foreign Affairs, represented by spokesperson Esmaeil Baghaei, cautioned that no one expected a single‑session resolution. "Naturally, from the beginning, we should not have expected to reach an agreement in a single session," he told state broadcaster IRIB, adding that Tehran remains "confident that contacts with Pakistan and other regional friends will continue." Pakistan called on both parties to honor the ceasefire and pursue a durable peace. Foreign Minister Ishaq Dar expressed gratitude for the mediation efforts, stating, "We hope the two sides continue with a positive spirit to achieve durable peace and prosperity for the entire region and beyond." The stalled talks occur against the backdrop of a war that began on February 28, when the United States and Israel launched a campaign against Iran. The conflict has since spread across the Middle East, causing over 2,000 fatalities and extensive damage to both military and civilian infrastructure. One of the war’s most destabilizing effects has been a global energy crisis, as Iran tightened control over the Strait of Hormuz—a chokepoint through which roughly 20 % of the world’s oil and gas exports flow. The delegations, led by Vance for the United States and Iranian Parliament Speaker Mohammad Bagher Qalibaf, also discussed how to sustain a ceasefire that is already under strain from deep disagreements and Israel’s ongoing attacks on Hezbollah in Lebanon.

The collapse of talks between the US and Iran has sent shockwaves through global markets, fuelling fears of a prolonged energy crisis and rising inflation. The failure to reach a peace deal has left large numbers of oil tankers stuck in the Persian Gulf, with oil prices fluctuating wildly in response to the uncertainty.US Vice-President JD Vance has blamed the collapse of the talks on Tehran's refusal to abandon its nuclear weapons programme, while Iranian sources have hit back at what they describe as 'excessive' demands from Washington. The stalemate has raised concerns about the long-term impact on the global economy, with governments and central banks warning of higher inflation and interest rates.Mohamed El-Erian, an adviser to Allianz, has cautioned that uncertainty will continue to dominate assessments of the financial impact from the conflict. 'Absent a swift resumption of negotiations, the immediate reaction of financial markets when they open for the trading week will be to push oil prices higher and borrowing costs higher,' he said.The International Monetary Fund and World Bank's spring meetings in Washington will focus on the war's impact on the global economy, with the IMF's managing director, Kristalina Georgieva, indicating that the fund will present three scenarios predicting lower economic growth and higher inflation. The IMF is also expected to highlight the impact on vulnerable economies.In the short term, oil prices have ended the week lower, with Brent crude at $94.26 a barrel and West Texas Intermediate crude at $95.63 a barrel. However, global stock markets have rebounded after a temporary ceasefire was announced, with the S&P; 500 close to its level before the US-Israeli attacks on Iran began.

Former President Donald Trump and Secretary of State Marco Rubio arrived at Miami’s Kaseya Center shortly after 9 p.m. on Saturday to watch a UFC card, joining UFC president Dana White and several members of the Trump family. Seated nearby were U.S. ambassador to India Sergio Gor, rapper Vanilla Ice and former FBI deputy director Dan Bongino. The crowd greeted Trump enthusiastically as a Kid Rock track blared, and he exchanged handshakes and smiles with fans and the broadcast crew, which included podcaster Joe Rogan. While the fights unfolded, Vice‑President JD Vance told reporters that the diplomatic mission in Pakistan aimed at ending the conflict with Iran had broken down. He noted that Iran’s refusal to renounce its nuclear ambitions remained the chief obstacle, stating, "We need an affirmative commitment that Iran will not seek a nuclear weapon or the tools to achieve one quickly." Despite the diplomatic setback, Trump appeared focused on the cage action, occasionally leaning toward Rubio to discuss matters on his phone. After the co‑main event victory of Paulo Costa over Azamat Murzakanov, the champion approached the former president for a handshake. Trump’s family members at the venue included his children Ivanka, Tiffany and Donald Jr.; Ivanka’s husband Jared Kushner was in Pakistan with Vance for the failed talks. UFC has long been a platform that bolsters Trump’s appeal among young, male audiences. The promotion recently announced a special event at the White House slated for 14 June—coinciding with Trump’s 80th birthday—to commemorate the United States’ 250th anniversary. According to White, a bout featuring Josh Hokit was added to the June card at Trump’s request, with both White and Rogan confirming the arrangement. Vance emphasized that the United States remains committed to securing a binding Iranian pledge against nuclear weapon development, framing it as the core objective of the administration’s foreign policy agenda.

The forthcoming negotiations between the United States and Iran in Islamabad are expected to be significantly influenced by the growing leverage of the Strait of Hormuz. This critical waterway, through which a substantial portion of the world's oil supplies passes, has become a focal point of heightened tensions in the region. The Strait of Hormuz, situated between Iran and Oman, is a vital artery for global energy exports, with approximately 20% of the world's oil supply passing through it. Any disruption in this waterway could have profound implications for global energy markets and the world economy. The talks in Islamabad come at a time when regional tensions are on the rise, with various geopolitical factors contributing to the complex dynamics at play. The strategic importance of the Strait of Hormuz is likely to be a central theme in the discussions, as both sides seek to assert their positions on key issues.

On the eve of significant diplomatic talks between the United States and Iran, Pakistan's ambassador has shared insights with Al Jazeera. The discussions come at a critical juncture in international relations, with global implications for diplomacy and geopolitics.The ambassador's comments highlight Pakistan's interest in the developments, given its strategic position in the region. As tensions between the US and Iran continue to influence the global landscape, Pakistan's perspective adds a valuable layer to the conversation.

Senior Iranian officials, including parliamentary speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi, have arrived in Islamabad, Pakistan, for ceasefire talks with the United States. The US delegation, led by Vice President JD Vance, along with special envoy Steve Witkoff and Jared Kushner, is representing Washington in the negotiations.Ahead of the talks, Vance indicated a potential opening for diplomacy, stating that Washington is ready to “extend an open hand” if Iran negotiates in good faith. However, the situation on the ground remains volatile, with Lebanon’s Health Ministry reporting that at least 357 people were killed in Israeli attacks on Wednesday, with the death toll expected to rise.In IranIran is experiencing a near internet blackout that has passed 1,000 hours, making it one of the longest nationwide internet disruptions on record, according to the monitoring group NetBlocks.Analyst Zohreh Kharazmi noted that Iranians remain sceptical ahead of the negotiations, despite Tehran believing it holds leverage, including over the Strait of Hormuz.War DiplomacyIran’s delegation of top officials arrived in Islamabad for ceasefire talks with the US, as reported by Iranian state television on Friday.Lebanon’s presidency announced that a meeting will be held at the US Department of State on Tuesday to discuss declaring a ceasefire and the start date for negotiations between Lebanon and Israel under US auspices.Iran demands a truce in Lebanon and the release of its blocked assets as Vance warned Tehran not to “play” Washington in their talks.US President Donald Trump stated that Iran has “no cards” in upcoming talks with the US and mentioned that US warships are being reloaded with weaponry to strike Iran if the talks fail to produce a deal.In the USTrump says the Strait of Hormuz will reopen ‘fairly soon’, pledging that Washington will “open up the Gulf” amid ongoing disruption to global energy supplies.Former US ambassador Douglas Silliman noted that Trump is likely to push for a fast outcome in the talks to ease economic pressure, with the reopening of the Strait of Hormuz seen as a critical priority.US consumer prices surged to a two-year high, increasing pressure on the administration as economic concerns grow at home.In IsraelThe US has reportedly asked Israel to halt attacks on Hezbollah in Lebanon to avoid derailing negotiations, with the current US-Iran ceasefire set to expire on April 21.Israel’s military operations and expanding ground offensive in Lebanon continued, even as ceasefire negotiations were scheduled.In Gaza and JerusalemMore than 100,000 people attended the first Friday prayers at the Al-Aqsa Mosque in East Jerusalem since its reopening following the US-Iran truce, the holy site’s Islamic authority reported.An Israeli air strike killed at least six people and injured several others at the Bureij refugee camp in the central Gaza Strip, according to the Gaza Health Ministry.In LebanonHeavy toll from Israeli attacks: Lebanon’s Health Ministry reported that nearly 2,000 people have been killed by Israeli air strikes and ground operations since early March, with thousands more wounded.Lebanon is facing a food security crisis, with prices surging and supply chains disrupted amid Israel’s offensive, according to the United Nations World Food Programme (WFP).

The online prediction market platform Polymarket has seen a surge in users betting on global events, including war and politics. With over $500,000 staked on whether Russia will capture Kostyantynivka, Ukraine, and millions more bet on the US-Iran conflict, the platform's influence is growing.Users, often anonymous and operating in groups on messaging apps like Discord, debate and strategize on how to profit from these events. Some critics argue that this gamification of war is immoral and can lead to manipulation of broader markets.Polymarket views itself as a source of truth, providing data on the future by allowing the public to bet on it. The platform has gained attention from major investors, including the Intercontinental Exchange, which has invested up to $2bn.However, concerns arise about the platform's decision-making process, which relies on an anonymous group of people holding a cryptocurrency token called UMA. This has led to disputes over the outcome of events and accusations of corruption.Experts warn that Polymarket's influence could extend beyond the platform, potentially manipulating larger markets and affecting institutions and pension funds.