Pakistan officials blame US blockade, not Iran divisions, for stalled talks; Pakistani proposal to open Strait of Hormuz in exchange for partial lifting of sanctions on Iran, according to reports

The stalled talks regarding Iran's sanctions appear to be more influenced by a US blockade than internal Iranian divisions, which could have significant implications for regional stability and energy markets. Pakistan’s proposal to open the Strait of Hormuz in exchange for sanctions relief highlights the geopolitics around oil supply routes, likely adding volatility to WTI and influencing FX flows, especially in commodity-related currencies like the JPY and GBP.