As the Persian Gulf faces a total shipping standstill, the UK and France are co-hosting a high-level summit to launch a naval mission dedicated to maritime security. The initiative aims to decouple global trade from the escalating U.S.-Iran conflict.
Prime Minister Shehbaz Sharif announced that the Pakistan-brokered ceasefire between Washington and Tehran remains intact. However, with both nations claiming the "upper hand," mediators face a race against time to resume talks before the April 22 deadline.
The United Kingdom has officially distanced itself from the U.S.-led military blockade of Iranian ports. While the Royal Navy will remain in the Gulf to manage drone defense and mine-clearing, British forces will not participate in the active blockade.
The U.S. Central Command (CENTCOM) has officially launched a naval blockade on all Iranian ports as of 10:00 a.m. local time. The move comes as a direct consequence of the failed Islamabad negotiations and a stern warning from President Trump.
The breakdown of U.S.-Iran peace negotiations has sent shockwaves through the commodities market. As oil prices surge past $100 and the dollar index rises, gold has dropped to $4,718 per ounce, dampening hopes for a Federal Reserve rate cut.
