DUBAI, June 2 (Reuters) – Iran is considering a proposed agreement with the United States to stop the war between the two countries, Iranian news agency Mehr reported on Tuesday, after US President Donald Trump said negotiations to reach a deal were ongoing.
More than three months after the US and Israel launched strikes against Iran, the conflict is at a stalemate, while indirect talks to negotiate an interim deal have proved inconclusive, leaving the Strait of Hormuz virtually closed.
Iran has not yet responded to a proposed final text of the interim deal and was taking a ’harsh’ approach given what it sees as a history of US non-compliance and long-standing distrust, Mehr said, citing a source.
Trump said on Monday that negotiations with Iran were continuing and that there would be an agreement to extend the ceasefire and reopen the Strait of Hormuz next week.
Since mid-March, Trump has repeatedly said he is close to signing a peace agreement. A ceasefire has largely held since early April, although Iran and the US have exchanged attacks several times over the past week.
Oil prices fell more than 1% on Tuesday, paring the previous day’s strong gains, although a senior official at the International Energy Agency warned that global oil stocks could reach historically low levels.
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ISRAEL MAINTAINS ATTACKS IN LEBANON
The war that began on February 28 killed thousands of people, mainly in Iran and Lebanon. It has caused global economic suffering by driving up energy prices since Iran virtually closed the Strait of Hormuz, which previously carried about a fifth of global supplies of oil and liquefied natural gas.
It also triggered the latest round of fighting between Israel and the Lebanese militant group Hezbollah, with Israel carrying out its deepest incursion into Lebanon in 25 years.
Israel continued attacks in southern Lebanon on Tuesday, according to Lebanese security sources, a day after US mediation appeared to have prevented any further escalation of that war.
A partial ceasefire announced by Lebanon on Monday would entail Israel refraining from attacks on Beirut and Hezbollah-controlled suburbs of the Lebanese capital, while the Iran-aligned group would halt its attacks on Israel.
Lebanon said it would seek to expand the ceasefire in talks with Israel in Washington on Wednesday.
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