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PoliticsFTSE 100 set to fall as Trump yet to greenlight Iran peace deal
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The FTSE 100 is expected to fall as uncertainty persists over a US-Iran peace deal. Oil prices edged up to $93 per barrel amid ongoing Middle East tensions. The latest peace proposal, awaiting final approval from President Donald Trump, reportedly includes a 60-day ceasefire, reopening the Strait of Hormuz, and a framework for nuclear negotiations. However, Trump has called for edits, particularly regarding the Strait of Hormuz and Iran's nuclear program. Iran's chief negotiator stated the regime will not sign unless its rights are secured. Tensions escalated last week with US and Iran exchanging strikes, and US forces attacked a cargo ship allegedly breaching a naval blockade. A White House official reiterated that Trump will only accept a deal that satisfies US red lines and prevents Iran from obtaining a nuclear weapon.
Source report
President Donald Trump has not yet confirmed the Iran peace deal. (Image: AP/PA)
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Oil prices edged slightly higher to $93 per barrel this morning, as uncertainty continues to cloud the prospects of a peace deal in the Middle East.
The latest peace proposal between the US and Iran was reported last week to be awaiting final approval from President Donald Trump. However, on Sunday, US media reported that Trump is calling for edits to the proposal as it currently stands.
The requested changes centre on two key issues:
- The Strait of Hormuz – traffic through the narrow waterway has been halted since the war began, sending ripples through the global economy.
- Iran’s nuclear program
The latest proposal is reported to include:
- A 60-day cessation of fighting
- A move to reopen the Strait of Hormuz
- A framework to reopen negotiations on Iran’s nuclear program
Mohammad Bagher Ghalibaf, Iran’s chief negotiator, said on Sunday that the regime would not sign off on a deal unless it secured rights for Iranians.
“President Trump will only make a deal that is good for America and satisfies his red lines. Iran can never possess a nuclear weapon,” a White House official said after Trump held a situation room meeting with key aides.
Fresh hopes of a peace deal come after tensions soared last week, as the US and Iran exchanged strikes, each accusing the other of violating the ceasefire. On Saturday, US forces attacked a cargo ship that they claimed was attempting to breach their naval blockade of Iran.
A senior official accused Trump of “betraying diplomacy for the third time.”
We will be bringing you the latest market reaction to this and more.
Here are a few of our top headlines this morning.
Source
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Part of this Story
Trump Rejects Iran Peace Proposal, Escalating Middle East Tensions