Iran: Seeking an End to the War, Not Just a Ceasefire

March 25 – According to CCTV News, Russian Foreign Ministry spokesperson Maria Zakharova said Wednesday the U.S. has again called for negotiations with Iran, without ruling out the possibility its goal is to create conditions for redeploying armed forces and adjusting military plans. Previous reports note the U.S. government proposed a 15-point conflict resolution plan to Iran via Pakistan, covering nuclear programs, missile capabilities and regional issues. The U.S. is considering pushing for a one-month ceasefire to facilitate further talks on terms. Additionally, U.S. officials including former President Donald Trump have recently stated the U.S. has engaged in dialogue with Iran and outlined key points of an agreement. However, multiple Iranian officials have denied reports of U.S.-Iran negotiations.

On March 25, commodity ETFs posted their largest-ever fund outflows amid escalating Middle East tensions, per Bloomberg Industry Research data. Roughly $11 billion has flowed out of nearly 100 ETFs focused on precious metals and diversified commodities since March—marking the largest monthly net outflow since 2005 and ending nine straight months of net inflows. Gold was a key sell-off target: the world’s largest gold ETF, SPDR Gold Shares, saw redemptions topping $7 billion, while silver ETFs recorded outflows of around $1.4 billion. Analysts note profit-taking from gold’s prior gains, combined with expectations for high interest rates and a strong dollar, has dented gold’s appeal—with the “cash is king” narrative dominating markets. Meanwhile, oil market volatility spiked as the Strait of Hormuz blockage disrupted crude shipments, pushing Brent crude to roughly $104 per barrel. Some funds shifted to energy products, and the United States Oil Fund (USO) unexpectedly drew ab

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**March 25** Iran has rejected a U.S. proposal on ending ongoing conflict, with Tehran insisting the war will conclude on its own conditions and timeline, per Iran’s government-aligned Press TV. A senior Iranian official familiar with the details stated Tehran will not allow former President Trump to dictate when hostilities end, emphasizing Iran’s ongoing defensive posture and determination to deliver “heavy blows” to adversaries until its demands are met. The official outlined five key conditions for ending the war: 1. Full cessation of the adversary’s “aggression and assassination operations” 2. A specific mechanism to prevent future war imposition on Iran 3. Guaranteed, clear definition of compensation and repair costs for war losses 4. End to hostilities across all fronts and within all regional resistance organizations involved 5. International recognition and assurance of Iran’s sovereign right to exercise jurisdiction over the Strait of Hormuz Iran has info

March 25 — An official with Iraq’s Ministry of Energy said the country’s oil production has continued to decline sharply due to the ongoing Iran war, near-full crude oil storage capacity and transport disruptions at the Strait of Hormuz. Data shows output from Iraq’s southern major oil fields has dropped a further 80% to around 800,000 barrels per day (bpd). Earlier this month, production in the region had already fallen from a pre-war level of about 4.3 million bpd to 1.3 million bpd. To ease storage pressures and export bottlenecks, Iraq will further cut production starting Tuesday. Additionally, Iraqi authorities have asked BP to reduce output at the Rumaila oil field from ~450,000 bpd to 350,000 bpd, and Eni to cut production at the Zubair field from 330,000 bpd to 260,000 bpd.

U.S. stocks opened higher on March 25th: the Dow Jones Industrial Average gained 1%, the S&P 500 rose 0.89%, and the Nasdaq Composite added 1%. - Pinduoduo (PDD.O) climbed 2% after its Q4 2025 revenue beat expectations. - Amazon (AMZN.O) rose 2.5% following its acquisition of robot startup Fauna Robotics. - Arm (ARM.O) surged more than 11% as the company will begin selling its own chips for the first time, projecting the business to generate roughly $15 billion in annual revenue within five years. Cryptocurrency-linked equities also posted gains: - MicroStrategy (MSTR) gained 4.57% - Coinbase (COIN) rose 3.73% - Riot Platforms (CRCL) jumped 7.11% - Sports Betting & Gaming (SBET) added 4.04% - Bit Mining (BMNR) climbed 3.73%