A man holding a Hezbollah flag stands amid the rubble of a damaged building in Beirut’s southern suburbs, underscoring the human cost of the fighting.
US President Donald Trump said he was optimistic a deal to end the conflict with Iran could be reached soon and urged Tehran-aligned Hezbollah to refrain from further attacks as a 10-day ceasefire between Lebanon and Israel took effect. Speaking outside the White House, Trump said the next US-Iran meeting could happen over the weekend and that a pause in hostilities might be extended, though he suggested Iran may prefer to conclude an agreement rather than prolong the pause. He also said he might attend if a memorandum of understanding were signed in Islamabad. Later in Las Vegas he added that the war ‘should be ending pretty soon.’
The fighting, which began after a US-Israeli strike on Iran on February 28, has caused thousands of deaths, driven oil prices sharply higher and prompted the IMF to downgrade the global economic outlook. The IMF warned that continued hostilities could push the global economy toward recession.
A Pakistani mediator involved in back-channel talks said progress has been made and that an upcoming meeting could produce an initial agreement. The source, speaking anonymously, said the parties would first sign a memorandum of understanding in Islamabad and then finalize a more detailed comprehensive accord within about 60 days. ‘Both sides are agreeing in principle. The technical details come later,’ the official commented.
Early reports indicated the 10-day ceasefire between Israel and Hezbollah was holding, raising hopes it could help open the way for a wider pause or settlement involving Iran, the United States and Israel. Hezbollah has insisted any ceasefire must be comprehensive across Lebanon and not allow Israel freedom of movement. Israeli Prime Minister Benjamin Netanyahu said he accepted the ceasefire ‘to advance’ peace efforts but made clear Israeli forces would not withdraw.
European leaders prepared to discuss tensions in the Strait of Hormuz and broader regional instability. French President Emmanuel Macron backed the Lebanon-Israel pause while warning it could already be undermined by ongoing operations.
Markets reacted to hopes of de-escalation: Asian stocks rose and oil eased below $100 a barrel, though continued disruption around the Strait of Hormuz kept prices well above pre-conflict levels. Analysts cautioned that higher energy costs are pressuring manufacturers and global trade. A UN Development Programme report named Sri Lanka among the Asia-Pacific nations most affected by the West Asia conflict because of its dependence on migrant workers in the Middle East.
Other developments tied to the war and talks included:
– Reports that Washington proposed a 20-year freeze on Iran’s uranium enrichment while Tehran reportedly offered a five-year limit.
– Trump’s claim that Iran agreed to hand over enriched uranium ‘nuclear dust’ to the US as part of broader assurances against pursuing a nuclear weapon, a claim that has drawn scrutiny amid ongoing negotiations.
– A South Korean-flagged tanker carrying Saudi crude safely transiting the Red Sea, one of the first such passages since shippers began avoiding the Strait of Hormuz.
– Displaced Lebanese returning to towns to find widespread destruction and flattened buildings after the ceasefire began.
– Two Iranian women soccer players granted humanitarian visas to Australia thanking officials for protection and hoping to restart their careers.
– A sour mood at China’s Canton Fair as manufacturers reported rising raw material costs since the conflict began.
The coming days — including a potential weekend meeting between US and Iranian representatives and the possible signing of an Islamabad MoU — will be closely watched for signs that the ceasefires and talks can lead to a longer-lasting settlement and relieve the wider economic fallout.
