The Markets Ledger

Iran responds to US peace proposal as tensions escalate in the region

Washington is reviewing Tehran’s response to its latest proposal for ending the war, in which the US laid out a “very clear red line” for peace terms, according to Ambassador Mike Waltz. 

Mediators have been trying to build momentum toward an elusive long-term peace deal.
• In Israel: Prime Minister Benjamin Netanyahu said there is still “work to be done” in the joint US-Israeli offensive against Iran, emphasizing that Tehran has not given up its enriched uranium or dismantled its nuclear sites.
• Strait of Hormuz: Iran’s military warned that countries enforcing sanctions against Iran will “face problems” when their vessels use the key waterway. Tehran earlier said it would launch a “heavy assault” on US assets in the Middle East if its ships face further attacks surrounding the strait.
• Energy crisis: As gas prices surge due to the conflict, US Energy Secretary Chris Wright left the door open Sunday to suspending the federal gas tax.