The failure of the talks will raise concerns that a return to fighting could drive world energy prices higher and further damage shipping and oil and gas facilities in the Gulf. The United States and Israel attacked Iran on February 28, sparking retaliation from Tehran that has plunged the Middle East into conflict and shaken the global economy. Iranian demands for any agreement to end the war include unfreezing sanctioned Iranian assets and ending Israel's war against Hezbollah in Lebanon. The Iranian military denied that any American warships had entered the waterway and threatened to respond if they do so. Israeli Prime Minister Benjamin Netanyahu said on Saturday that he wanted a peace deal with Lebanon that "will last for generations".

Source: Bangkok Post April 12, 2026 11:06 UTC