Gulf and European Officials Believe U.S. Needs Six Months to Reach Iran Deal

April 17th — Bloomberg reported that regional officials familiar with the matter said some Gulf states and European leaders believe a U.S.-Iran peace deal could take around six months, and are pushing to extend the current ceasefire to cover that period. The officials noted leaders across countries want the Strait of Hormuz reopened immediately to restore energy flows, and have privately warned a global food crisis could hit if the strait isn’t reopened for shipping by next month. They also said energy prices could rise further if the conflict drags on longer. Per the officials, Gulf countries still believe Iran is pursuing nuclear weapons — a stance unchanged after U.S.-Israeli strikes on Iran — so they argue any peace deal should bar Iran from uranium enrichment or possessing long-range ballistic missiles. Still, Gulf states broadly oppose resuming hostilities and want the U.S. to resolve its dispute with Iran diplomatically. (FX Street)