US-Iran ceasefire: Trump hints at deal as Araghchi arrives in Russia for talks with Putin

Iran has reportedly delivered a fresh diplomatic proposal to the United States through Pakistan aimed at ending the war and reopening the strategic Strait of Hormuz, Axios reported.

The latest proposal calls for talks on Iran's nuclear program to be postponed to a later stage, according to media reports.

The proposal, communicated via Pakistani intermediaries to the US, outlined in reporting by Axios and cited by US and regional sources, seeks to break a negotiation deadlock that has stalled peace efforts and unsettled global energy markets.

Oil prices rose more than one percent Monday, though lingering hopes that a US-Iran deal can eventually be reached has tempered the gains.

Fawad Razaqzada of Forex.com, warned they could surge again at any time.

"If tensions were to escalate further, particularly into open conflict, there's a clear risk of a sharper spike," he wrote.

"For now though, as long as shipping through the Strait remains constrained, that premium is unlikely to fade. Until there's a credible breakthrough, the path of least resistance still looks higher, with a move beyond $110 appearing increasingly plausible."

Stocks fluctuated through the morning, with Tokyo, Seoul and Taipei sharply up on the back of healthy AI-fuelled tech gains following US giant Intel's healthy revenue forecasts.

There were also gains in Shanghai and Jakarta, while Sydney, Singapore and Manila fell and Hong Kong was flat.

That came after the S&P 500 and Nasdaq ended Friday at fresh record highs.

Iran's Foreign Minister Abbas Araghchi arrived in Saint Petersburg on Monday, state media reported.

"He arrived early on Monday morning with the aim of meeting and holding talks with Russian President Vladimir Putin," Iranian state news agency IRNA posted on Telegram.

Moscow's TASS news agency confirmed earlier that Putin plans to meet Araghchi, citing Kremlin spokesman Dmitry Peskov.

The US Central Command (CENTCOM) said American forces have intercepted and redirected 38 vessels since the start of what it described as a maritime blockade on Iran.

According to CENTCOM, the ships were either forced to turn around or return to Iranian ports as US forces continued operations aimed at restricting maritime access.

In a post on X, CENTCOM said US forces are enforcing the blockade by preventing vessels from entering or leaving Iranian ports, as tensions between Washington, Tehran and Israel continue to escalate across the region.

Russian President Vladimir Putin plans to meet with Iranian Foreign Minister Abbas Araghchi on Monday, Russian state media reported.

Russia and Tehran, who are both subject to fierce Western sanctions, have developed an increasingly close relationship in recent years.

Moscow's TASS news agency confirmed the Russian leader's plans, citing Kremlin spokesman Dmitry Peskov.

Russia's foreign ministry had said earlier that Araghchi would travel to Moscow for talks.

"We confirm a visit by Araghchi to Russia with the aim of holding talks," the ministry told RIA Novosti news agency, without providing more details.

Iran's ISNA news agency quoted Tehran's ambassador to Russia, Kazem Jalali, saying that Araghchi would meet Putin to "consult with Russian officials regarding the latest status of the negotiations, ceasefire, and surrounding developments".

US President Donald Trump has indicated that the ongoing tensions between the United States and Iran could be nearing an end, asserting that mounting military and economic pressure has placed Tehran in a weakened position and may push it towards a resolution.

Trump added that internal divisions within Iran's leadership could further accelerate the path to an outcome.

Iran's Foreign Minister Abbas Araghchi held high-level talks with Oman's Sultan Haitham bin Tariq in Muscat, focusing on cooperation among Hormuz littoral states to ensure safe maritime transit amid the ongoing war with the US and Israel.

A tanker carrying about 910,000 barrels of US-produced crude oil from Texas arrived in Tokyo Bay, completing a roughly 35-day voyage through the Panama Canal, in one of the largest direct US crude deliveries to Japan in years.

The cargo aboard the tanker M/V Otis marks a notable shift in global energy flows as buyers seek alternatives to Middle Eastern supplies amid disruptions in the Strait of Hormuz, a crucial chokepoint for world oil shipments.

Pakistan's foreign minister, Ishaq Dar, said late Sunday that the government has lifted all restrictions around the high-security zone in the capital of Islamabad.

Iranian and U.S. delegations held rare face-to-face talks there earlier this month. The area had remained under lockdown for more than a week as Pakistan hoped to host a second round of talks aimed at securing a ceasefire.

Dar's remarks signaled that there was no immediate prospect of further direct talks between the United States and Iran. Still, Pakistan's government says it continues to mediate by conveying messages between the two sides to promote lasting stability in the region.

In a post on X, Dar thanked residents of Islamabad and the nearby city of Rawalpindi "for their patience and cooperation."

Day 58: Trump says shooting won't 'deter' him from Iran war

Day 57: Iran sends revised peace plan, Trump calls it insufficient

Day 56: European Union calls for reopening of Strait of Hormuz

Day 55: Trump: US could make a deal with Iran 'right now'

Day 54: Trump extends US-Iran ceasefire

Day 53: Pakistan urges the US and Iran to extend their ceasefire

Day 52: Fighting to resume as ceasefire ends Wednesday: Trump

Day 51: Iran refuses new round of talks, say reports

Day 50: Indian ships reverse course in Strait of Hormuz