Pakistan’s diplomatic efforts are beginning to show positive results on the global stage, helping to ease tensions and stabilize key markets.
Following the announcement of a ceasefire between the United States and Iran, facilitated through Pakistan’s engagement, global oil prices fell sharply by up to 19 percent. Brent crude prices also dropped to around $90 per barrel.
International stock markets responded positively, with major indices showing upward trends. The reduced risk of a prolonged conflict has provided relief to the global business community, which had been concerned about potential economic disruptions.
Read Also: Trump announces temporary ceasefire with Iran
Reports indicate that Iran has accepted Pakistan’s proposal for a two-week ceasefire, with approval granted by the country’s new Supreme Leader. Iranian media described the development as a setback for former US President Donald Trump, citing strong rhetoric against Iran.
Iranian Foreign Minister Abbas Araghchi stated that Iran would halt its attacks if strikes against the country were stopped. He also said that, in coordination with the Iranian military, safe transit through the Strait of Hormuz could be ensured for two weeks.