Vibes for talks
The optimism exhibited by the warring sides pledging their faith in diplomacy offers a ray of hope in adversity. Secretary of State Marco Rubio's assertion that Washington is ready to talk things out with Tehran - provided the Islamic Republic gives up its nuclear obsession and refrains from exercising hegemony over the Strait of Hormuz - could be a solid beginning for a return to the negotiating table. Likewise, Supreme Leader Syed Mojtaba Khamenei's observation that a 'no war, no peace' status quo is unwarranted provides enough common ground for the adversaries to silence their guns and give diplomacy a chance. The prerequisite, nonetheless, as stated by Pakistan and Qatar, is to return to the July 6 modus operandi and allow the good offices of mediators to resume fence-mending exercises in the wider interest of peace and security.
The ongoing conflict, which stands in utter violation of the 60-day ceasefire agreed between the warring sides, must come to an end. The way forward for Iran and the US is to focus on the broader picture of reconciliation - particularly the dividends it will yield for global stability. Tehran's decision to strike Bahrain, Kuwait and Jordan with missiles in retaliation for Washington's trigger-happiness is proving disastrous. Oil prices are spiking, surpassing $95 a barrel and plunging the global supply chain into a severe crisis.
A quick fix to the prevailing standoff could be an independent regulatory mechanism over the Strait until both sides reach a perpetual deal. This is the only way to stem the rot, preventing the US and Iran from picking an undesired fight over the water channel and endangering commercial vessels and seamen alike. It is a matter of grave concern that over the past 24 hours, only nine vessels were able to pass through the strategic water route that caters to 20% of global trade.
The goodwill demonstrated by the Iranian foreign and interior ministers during their recent visits to Pakistan must act as a catalyst for resuming talks. A muting of war rhetoric by the IRGC and White House, however, is an unavoidable CBM at this point