đ° Full Story
Between May 8-11, Tehran formally sent a response to a U.S. memorandum aimed at ending more than two months of fighting, delivering it to mediators in Pakistan, while Washington said the offer was âtotally unacceptable.â Iranâs reply, reported by state and semi-official outlets, called for an immediate end to hostilities, lifting of sanctions and guarantees over control of the Strait of Hormuz; U.S. officials say their proposal would first restore free transit and curb Iranâs nuclear enrichment.
The exchange came amid renewed clashes in and around the strait, drone incidents over Gulf states and a U.S. naval blockade of Iranian ports.
A Qatari LNG tanker, Al Kharaitiyat, made a rare transit through the strait on May 9 under arrangements involving Qatar, Pakistan and Iran, offering limited relief to Pakistanâs gas shortage.
Markets reacted: Brent crude jumped above $104 a barrel and U.S. crude near $98 on signs diplomacy was faltering.
U.S. sanctions were also widened this week, and Britain and France are preparing a possible maritime security effort to protect shipping once hostilities ease.
đ Based On
đ°ď¸ The Story So Far: An Evolving Timeline
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