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The frozen assets of Iran, estimated to be over $100bn, have emerged as a significant obstacle in the ongoing talks between the United States and Iran. These assets, which include revenues from oil sales frozen in foreign banks, are a vital component of Iran's economy, which has been severely impacted by sanctions imposed by the US and other nations.The sanctions, in place since 1979, have restricted Tehran's ability to access its own assets, exacerbating the country's economic woes. Mohammad Bagher Ghalibaf, the speaker of Iran's parliament, has emphasized that the release of these frozen assets is a prerequisite for any negotiations.The exact amount of frozen assets is unclear, but experts estimate it to be around $100bn, a sum that is approximately four times what Iran earns annually from hydrocarbon sales. Frederic Schneider, a nonresident senior fellow at the Middle East Council on Global Affairs, noted that this is a substantial amount, especially for a country that has been suffering under decades of US-led sanctions.The frozen assets are held in multiple countries, including Japan, Iraq, China, India, Luxembourg, and Qatar. Iran's economy is in crisis, with decades of sanctions limiting its oil exports and stalling its ability to attract investments and modernize its industry and technology. The release of these assets could provide a significant boost to Iran's economy, allowing it to address its infrastructure needs and stabilize its currency.Roxane Farmanfarmaian, academic director and lecturer in international politics at the University of Cambridge, emphasized that unfreezing Iran's assets would be significant, enabling the country to repatriate its funds earned in hard currency from oil sales and gain control over its currency fluctuations.

The Iranian judiciary announced on Monday that the assets of Zahra Ghanbari, captain of Iran’s women’s national football team, have been released following a court decision. The assets had been frozen earlier after she was listed among alleged “traitors” for seeking asylum in Australia.According to the state‑run Mizan news agency, the release came after Ghanbari submitted a “declaration of innocence” and demonstrated a change in behaviour, prompting officials to lift the seizure.Ghanbari was part of a group of six players and one staff member who fled to Australia in March, after the team’s refusal to sing Iran’s national anthem during the AFC Women’s Asian Cup sparked a media backlash. Australian Home Affairs Minister Tony Burke had publicly offered asylum to the entire delegation, warning they could face reprisals on return.Within weeks, five of the athletes, including Ghanbari, abandoned their asylum applications and returned to Iran. They were greeted with a hero’s welcome at a ceremony in central Tehran on March 19, and the court subsequently moved to restore their frozen assets.The asset release follows a broader crackdown that began after the outbreak of the US‑Israel war on Iran on February 28, during which more than 2,000 Iranians were reported killed. Iranian state media published a list of individuals deemed “traitors,” leading to the freezing of their property and bank accounts.In interviews with Al Jazeera, two of the returning players described the intense pressure they faced, noting that any misstep could have severe personal and professional consequences. “Every decision felt like a life‑or‑death choice for my family and my career,” said Mona Hamoudi, one of the athletes.Human‑rights groups have repeatedly warned that Iranian authorities use tactics such as asset seizure, family intimidation, and legal threats to deter athletes from defecting or speaking out. The case of Ghanbari underscores how sports can become a flashpoint for broader geopolitical tensions.Only two members of the original squad remain in Australia, where they have continued training with Brisbane Roar, while the rest of the team prepares for upcoming domestic competitions under heightened scrutiny.

US Vice‑President JD Vance addressed a podium in Pakistan, confirming that after a marathon 21‑hour negotiation no settlement had been secured to end the conflict with Iran. Meanwhile, President Donald Trump was in Miami watching a mixed‑martial‑arts fight, a stark contrast that underscored the administration’s focus on spectacle over substantive diplomacy. The breakdown was not accidental. Washington insists Iran must relinquish any capacity to develop a nuclear weapon, whereas Tehran maintains its right to a civilian nuclear programme and rejects the notion of a weapons agenda. The US “final and best offer” demanded a complete surrender of that capability, a condition more akin to imposing victory than fostering negotiation. Compounding the impasse, the United States sought unrestricted navigation through the Strait of Hormuz, a critical artery for global energy supplies. Iran, however, pressed for transit fees, lifted sanctions, unfrozen assets, reparations, and a broader regional cease‑fire. The divergent demands meant that a single round of talks could not bridge the gap, resulting in negotiations devoid of trust and a war without a clear resolution. Historical wisdom, echoed by Winston Churchill’s famous remark that "jaw‑jaw is better than war‑war", highlights the high cost of continued fighting. Ironically, the current US‑Iran dispute revolves around a nuclear programme that was once restrained by a deal the Trump administration later abrogated, and a maritime route that the same administration helped ignite by launching the conflict. The fragile cease‑fire’s survival now hinges not only on Washington and Tehran but also on Israel’s expanding offensive in southern Lebanon against Hezbollah, an operation that has drawn accusations of war crimes and threatens to widen the regional conflagration. Financial markets are unlikely to react positively to recent developments. American voters are already feeling the impact of surging fuel prices, and Trump’s consideration of a naval blockade of the Strait of Hormuz could exacerbate the situation. Disrupting a route that carries roughly one‑fifth of global oil would push prices higher, with ripple effects far beyond the Gulf. The current cease‑fire is set to expire in just over a week. While diplomatic talks have not formally ended, a stalemate persists and the logic of escalation is gaining traction. Iran appears unlikely to concede, opting instead to test US resolve at sea. Seasonal heat may limit a full‑scale ground offensive for now, but the risk of a shift toward naval confrontations, airstrikes, and proxy warfare looms, offering no winners—only further loss.

The U.S. Central Command (CENTCOM) reported that the destroyers USS Frank E. Peterson and USS Michael Murphy "transited the Strait of Hormuz and operated in the Arabian Gulf" as part of a mission to clear sea mines allegedly laid by Iran’s Islamic Revolutionary Guard Corps (IRGC).Admiral Brad Cooper hailed the operation as a turning point in the U.S.–Israeli campaign against Iran, saying the navy was establishing a "new passage" to restore safe commercial flow. Iran’s Khatam al‑Anbiya Central Headquarters immediately rejected the claim, stating that any vessel movement in the strait remains under the "Armed Forces of the Islamic Republic of Iran" and that the U.S. report is "strongly denied." The strait, a narrow chokepoint through which roughly 20% of the world’s oil and natural gas transits, has been a flashpoint since the February 28 U.S.–Israel attacks that prompted Iran to restrict passage to pre‑approved ships. The closure spiked global fuel prices and disrupted both commercial and military traffic. Analysts, such as Maria Sultan of the South Asian Strategic Stability Institute, argue that any U.S. navigation would require Tehran’s explicit permission, underscoring the strategic leverage Iran holds over the waterway. Simultaneously, senior delegations from the United States and Iran met in Islamabad for historic face‑to‑face talks—the highest‑level engagement since the 1979 Islamic Revolution. The negotiations, sparked by a preliminary ceasefire announced earlier in the week, focus on contentious issues including Iran’s nuclear program, frozen assets, and the future of Israeli operations in Lebanon. Both parties acknowledge that control of the Strait of Hormuz remains a major point of disagreement. Iran has signaled willingness to temporarily reopen the channel for commercial shipping but insists on maintaining leverage, proposing tolls to compensate for war damages. The United States, however, deems continued Iranian control a "non‑starter." U.S. President Donald Trump used his Truth Social platform to assert that Iran is "losing big" and to downplay the strait’s importance to the United States relative to its allies, claiming the mine‑clearing effort benefits nations such as China, Japan, South Korea, France, and Germany. Al Jazeera’s on‑the‑ground correspondents noted that despite a "deficit of trust," negotiators are working late into the night to bridge gaps, though fundamental disagreements over the strait’s governance persist.

Historic peace talks between Iran and the US commenced in Islamabad, Pakistan, marking the first face-to-face meeting between senior negotiators from both countries since 1979. The discussions, facilitated by Pakistani mediators, took place in a positive atmosphere despite continued fighting in Lebanon.The US delegation, led by Vice-President JD Vance, and Iran's negotiators, headed by Mohammad Bagher Ghalibaf and Abbas Araghchi, engaged in two rounds of talks. The discussions covered key topics such as security, finance, and the Strait of Hormuz.Pakistani sources confirmed that Pakistan's army chief, Asim Munir, was present in the room, having played a crucial role in brokering a ceasefire earlier in the week. Pakistan's Prime Minister, Shehbaz Sharif, hosted dinner for the delegations at his residence.The Iranian negotiators initially demanded a ceasefire in Lebanon, reparations, and a commitment to unblock frozen assets as part of a peace deal. However, the US warned against attempts to manipulate the negotiations, with Vance stating that the US would not be receptive to such tactics.The talks have sparked optimism, with a senior Pakistani official expressing hope for a breakthrough. The discussions have also drawn attention from other countries, with reports suggesting that China may offer guarantees to secure a deal.Meanwhile, Israel's military actions in Lebanon have escalated tensions, with Hezbollah firing rockets at Israeli cities. The Lebanese army has deployed troops to maintain stability amid internal tensions.

The United States team landed in Islamabad on Friday, gearing up for Saturday’s planned cease‑fire talks with Iran aimed at pausing the ongoing US‑Israel‑Iran conflict.New friction erupted on Friday when senior officials from both sides exchanged conflicting accounts of a 10‑point Iranian proposal that underpinned Tuesday’s temporary pause in hostilities.Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned on X that two critical measures—a cease‑fire in Lebanon and the release of Iran’s blocked assets—remain unfulfilled, insisting they must be addressed before negotiations can proceed.Ghalibaf, who is slated to attend the summit alongside Foreign Minister Abbas Araghchi, echoed the Iranian military’s joint command warning that its “fingers are on the trigger” after what it described as repeated “breaches of trust” by the United States and Israel.Meanwhile, former President Donald Trump escalated rhetoric, telling the New York Post that the U.S. is loading ships with the “best weapons ever made” and will employ them “very effectively” if a deal is not reached. In subsequent Truth Social posts, he dismissed Iran’s leverage over the Strait of Hormuz as a “short‑term extortion” and claimed the Iranians are “alive today only to negotiate.”The Trump administration credits Tuesday’s cease‑fire agreement with averting a larger U.S. escalation, yet it has not disclosed the exact framework agreed upon, noting it differs from Iran’s published 10‑point plan.Analysts point to substantial gaps between the parties on several fronts: Iran’s future control of the Strait of Hormuz, the status of frozen Iranian assets, the trajectory of Iran’s nuclear program, and Israel’s ongoing offensive in Lebanon.U.S. and Israeli officials assert that a Lebanese cease‑fire was never part of the deal, contradicting Iran and Pakistan’s position. Nonetheless, President Trump told an Israeli reporter that he urged Prime Minister Benjamin Netanyahu to make Israeli operations against Hezbollah “more low‑key” ahead of the talks.Israeli strikes continued, killing at least 300 people nationwide on Wednesday—the deadliest day of the offensive—while Al Jazeera’s correspondent reported no slowdown in southern Lebanon’s fighting. Kuwait also reported intercepting seven drones launched from Iran into its airspace within 24 hours.Despite the heightened rhetoric, U.S. Vice President JD Vance expressed optimism, stating he expects a “positive” outcome from the negotiations and that he has received “pretty clear guidelines” from President Trump. Vance emphasized that the United States is ready to extend an “open hand” to Iran if it negotiates in good faith, but warned that any attempt to “play us” would meet a “non‑receptive” negotiating team.Vance’s leadership reflects a non‑interventionist strand of the Trump administration, stepping in as Iran’s trust in special envoy Steve Witkoff and Trump’s son‑in‑law Jared Kushner has eroded. Witkoff and Kushner previously headed two rounds of indirect talks on Iran’s nuclear program, both of which collapsed—first after Israel launched a 12‑day war on Iran in June 2025, and again after the latest war erupted on February 28.

Pakistan has put forward a two-phase plan to bring an end to the ongoing conflict between the US, Israel, and Iran, and to reopen the strategically critical Strait of Hormuz. This initiative has been shared with both Iran and the United States, and is currently being considered by both sides.According to sources, Esmaeil Baghaei, spokesman for Iran's Ministry of Foreign Affairs, has acknowledged Pakistan's diplomatic efforts. The plan, tentatively referred to as the 'Islamabad Accord', involves an immediate ceasefire and the reopening of the Strait of Hormuz, with 15 to 20 days allocated to finalize a broader settlement.The proposed agreement would include Iranian commitments not to pursue nuclear weapons in exchange for sanctions relief and the release of frozen assets. However, Tehran has responded by stating that it will not reopen the strait as part of a temporary ceasefire, and has expressed skepticism about the proposal.The US has not yet responded to Pakistan's plan, while Iran has rejected a 15-point plan put forward by the US last month, describing it as 'illogical'. The conflict has resulted in significant human suffering, with over 2,000 people killed in Iran since the war began on February 28.The situation remains volatile, with Trump threatening 'hell' on Tehran if a deal is not reached by the end of Tuesday. The international community is closely watching the developments, as the Strait of Hormuz remains a critical artery for global fuel supplies, with over 20 percent of the world's oil and gas passing through the waterway.