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Ceasefire persists, but obstacles to peace with Tehran
Persistent obstacles have confronted the ongoing peace negotiations between the United States and Iran during the weekend, despite the continuation of a temporary ceasefire in hostilities. Washington halted its two-week military strikes in an effort to improve the chances of reaching an agreement, while Iran announced that its response would be similar. Diplomatic efforts led by China are underway to resume talks in Pakistan. Meanwhile, other military operations have continued, such as Saudi Arabia targeting Houthi sites in Yemen and the Caspian Sea attacking an Iranian vessel used to transport military shipments, reflecting the ongoing challenges and conflicts. Although the ceasefire has reduced tensions and contributed to a roughly 6% decline in oil prices, negotiations concerning security in the Strait of Hormuz and the future of Iran's nuclear program remain major hurdles to lasting peace—especially amid ongoing sanctions and the lack of navigation in this strategic strait, which handles one-fifth of global oil supplies.
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