Pakistan’s Prime Minister Shehbaz Sharif is set to leave for an official trip to Saudi Arabia on Wednesday, according to his office, as part of ongoing diplomatic efforts by Islamabad to support peace discussions between the US and Iran. Sharif will travel from Islamabad to Jeddah with a senior delegation. Saudi Arabia, a key ally of the United States in the region, has faced assaults from Iran since the conflict started in February. On the same day, Pakistan’s finance ministry revealed that Saudi Arabia will offer $3 billion to strengthen the nation’s foreign currency reserves. Sharif’s itinerary also includes visits to Qatar and Turkey. In Turkey, he plans to attend the fifth Antalya Diplomacy Forum and meet with President Recep Tayyip Erdogan and other global figures. The American blockade on Iranian harbors aims to cut off the country’s oil income and push its government toward renewed discussions, potentially removing nearly two million barrels of oil daily from global supplies and increasing market tightness. Records indicate Iran shipped about 1.84 million barrels per day on average in March, even amid the war. However, exports from other Gulf nations dependent on the Strait of Hormuz have dropped sharply due to Iran’s effective closure of the passage since early March. US forces are working to ensure safe transit for vessels not connected to Iran to restore oil flows. White House sources informed some American outlets that over 20 such ships have passed through since the restriction started. Yet, specialists monitoring maritime activity have doubted these assertions. Shipping data firm Kpler reported that movement through the Strait of Hormuz is still far below normal, with only six vessels recorded on the day the blockade commenced. Salvatore Mercogliano, a maritime expert and professor at Campbell University in North Carolina, noted that while the Trump administration mentions ships navigating the area, evidence is lacking. Kpler added that ship operators lack confidence, with ongoing uncertainty affecting passage choices, and the area remains highly risky, preventing significant resumption of traffic. Analysts say that despite US naval protection, many firms hesitate to use the strait due to potential Iranian threats. German company Hapag-Lloyd has stated it will avoid the route for now amid persistent instability. At a Turning Point USA gathering in Georgia on Tuesday, US Vice President JD Vance encountered criticism from an attendee seemingly unhappy with the administration’s position on Gaza. Vance remarked that Iran could prosper if it abandons nuclear weapons pursuits. He explained that President Donald Trump seeks a comprehensive agreement rather than a minor one, aiming to boost Iran’s economy and integrate its people into global trade in unprecedented ways. Vance, who joined recent talks with Iran in Pakistan, acknowledged deep distrust between the two sides that won’t vanish quickly, but noted Iranian representatives’ interest in an accord and expressed optimism about progress. Negotiations to resolve the Iran conflict might resume in Pakistan soon, Trump indicated on Tuesday, following the failure of prior sessions that led to the US imposing the port blockade. The temporary two-week truce between the US and Iran has one week remaining. Trump suggested to an ABC journalist that extending the ceasefire, due to end on April 21, might not be needed. He predicted significant developments in the coming days, adding that a resolution would allow rebuilding and highlighting changes in Iran’s leadership after removing extremists. These diplomatic signals eased oil markets, causing benchmark prices to decline for a second consecutive day on Wednesday. Asian equities increased, and the dollar steadied after a seven-session drop. This is ongoing coverage of the Middle East situation. The US military reports that its forces have entirely blocked seaborne commerce to and from Iran via the blockade. After unsuccessful US-Iran discussions in Pakistan, President Donald Trump announced the naval restriction on vessels at Iranian ports.
