Gulf and European officials see US needing 6 months for Iran deal, Bloomberg reports, citing officials
- Some Gulf Arab and European leaders believe that a US-Iran peace deal will take about six months to be agreed and that the sides should extend their ceasefire to cover that timeframe.
- The leaders want the vital Strait of Hormuz opened immediately to restore energy flows and are warning in private that a global food crisis may develop if that doesn’t happen by next month.
- Gulf states believe Iran is looking to build a nuclear weapon and that hasn’t changed in the wake of the US-Israeli bombardment of the country, said the officials
- Gulf leaders are mostly against any return to fighting and want the US to pursue diplomacy with Iran, said the officials.
Context
The insight that Gulf and European officials expect a US-Iran peace deal to take about six months highlights a potential timeframe for diplomatic resolutions, crucial in easing tensions. Immediate concerns over the Strait of Hormuz being open suggest a risk to energy supplies and could impact commodities pricing if disruptions occur. Any escalation or failure to secure peace could exacerbate already strained food supplies, further driving global inflation pressures.
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