Iran-US War: Tehran Confirms Reviewing Pakistan Mediated 15-Pt Plan, Says ‘We Do Not Seek War But…’

Iran-US War: Days after the United States President Donald Trump extended his deadline to strike a deal to end war with Iran, Tehran has reportedly said that it is reviewing 15-point plan. Iran confirmed that a Pakistan-mediated 15-point proposal is under formal review by its leadership, reported CNBC TV 18 on Sunday, March 29.

Iran's parliament is reportedly coordinating with the Supreme National Security Council to examine the proposal in detail, reported CNBC TV 18, citing a statement by Majlis Speaker Mohammad Bagher Ghalibaf in Persian language.

Iran Reviews 15-Pt Proposal

Earlier, an Iranian official said that "a 15-point U.S. proposal, conveyed to Tehran by Pakistan, was reviewed in detail on Wednesday by senior Iranian officials and the representative of Iran's supreme leader, reported Reuters. While they felt it served only U.S. and Israeli interests, diplomacy had not ended, the official said."

On Thursday, Reuters reported a similar account from another Iranian official. Senior figures again assessed the 15-point U.S. proposal and concluded that it advanced U.S. and Israeli interests alone. Despite this assessment, Iranian officials stressed that diplomatic channels over the conflict and its consequences remained open.

The continuing diplomatic contacts, set against rising oil, gas, and fertiliser costs, highlight the link between political talks and economic stability. Governments dependent on energy and fertiliser imports are watching both the Tehran discussions and shipping routes closely for any sign of easing pressure.

Iran-US War in West Asia

The regional war has been raging for almost four weeks and is already reshaping global trade. Tanker traffic has been hit, crude prices have climbed nearly 40%, and Asian buyers now face a jump of almost 67% in liquefied natural gas shipments.

The turmoil is also affecting global food costs. Nitrogen-based fertiliser prices, vital for crop yields worldwide, have risen by nearly 50%. Analysts in energy and agriculture markets warn that longer disruptions could deepen cost pressures, especially for import-dependent economies across Asia, including India.

Crude Oil Price Rally Amid West Asia Crisis

Brent crude oil prices have rallied more than 40% since the beginning of the Iran-US war on February 28. On March 27, the Brent crude futures were above $111 per barrel, as per Trading Economics. With this, the commodity ended the week at its highest level since June 2022 as fresh disruptions in the Strait of Hormuz overshadowed consideration via diplomatic channels. The fresh development is likely to impact the commodity prices like crude oil, gold and silver. While crude oil prices have surged since the onset of the Iran-US war, gold and silver have reversed their upward trajectory amid inflation concerns.