A man rides past a large billboard referring to the Strait of Hormuz in Tehran's Vanak Square on April 15, 2026. AFP
The United States is discussing a possible second round of peace talks with Iran in Pakistan and is optimistic about reaching a deal, U.S. officials said, as Tehran threatened to shut down Red Sea trade unless Washington lifted a naval blockade of its ports.
A Pakistani delegation arrived in Tehran bearing a new message from Washington after U.S. President Donald Trump indicated negotiations could resume this week following last weekend's failed talks in Islamabad.
White House Press Secretary Karoline Leavitt told reporters that further talks "would very likely" be in the Pakistani capital. "Those discussions are being had," Leavitt said, and "We feel good about the prospects of a deal."
The optimism came on the back of Pakistan Prime Minister Shehbaz Sharif's four-day diplomatic blitz, with the leader meeting on April 15 with Saudi Arabia's Crown Prince Mohammed bin Salman.
U.S. Vice President JD Vance, who led the first round of talks, has said Iran is being offered a "grand bargain" to end the six-week war with Israel and the United States and address the decades-old dispute over Tehran's nuclear program.
Israeli Prime Minister Benjamin Netanyahu said Israel and the U.S. have "identical" goals, enriched material removed from Iran, elimination of enrichment capability and a reopening of the Strait of Hormuz.
The strait, through which one-fifth of the world's crude oil normally flows, has been choked by Iranian forces since the U.S.-Israeli offensive began and is now the focus of the US blockade.
On the economic front, IMF chief Kristalina Georgieva warned of "tough times ahead" for the global economy if the war is unresolved and oil prices stay high, adding that inflation risks could seep into food prices.
Optimism about an accord in the conflict sent share prices higher on Wall Street, however, with the major stock indices finishing at records on Wednesday while crude prices dropped.
Washington has sought to turn the screws on Tehran with a blockade of its ports, with US Central Command claiming to have "completely halted economic trade going into and out of Iran by sea."
CENTCOM said it had turned back 10 vessels that tried to sail out of Iranian ports during the first 48 hours of the blockade and "zero ships have broken through."
The picture based on recent maritime tracking data in the Strait of Hormuz was less clear-cut and Iran's Tasnim news agency reported shipping has continued from southern Iran.
The head of Iran's military central command center warned that a U.S. failure to lift the blockade would constitute "a prelude" to violating the two-week ceasefire struck on April 8.
Keeping up the pressure, the United States slapped fresh sanctions on Iran's oil industry on April 15, which Treasury Secretary Scott Bessent said targeted "regime elites."
Unless Washington relents, Iran's armed forces "will not allow any exports or imports to continue in the Persian Gulf, the Sea of Oman and the Red Sea," Ali Abdollahi said.
