Syed Muhammad Zaid

ISLAMABAD: Pakistan&#39;s Prime Minister Shehbaz Sharif on Thursday announced that the Islamabad Memorandum of Understanding had been signed by US President Donald Trump, Iranian President Masoud Pezeshkian and himself, bringing to an end a conflict between Washington and Tehran that began on Feb. 28 and threatened to engulf the wider Middle East. The signing capped a diplomatic effort that stretched across regional and global capitals, transforming Islamabad from an observer of the crisis into a principal mediator between the two adversaries. While military exchanges, maritime disruptions and regional instability dominated headlines throughout the conflict, Pakistan maintained continuous engagement with Washington, Tehran and key international stakeholders in an effort to preserve dialogue and prevent a broader war. How did it start?The crisis erupted on Feb. 28 when the United States and Israel launched strikes on Iran, triggering a rapid escalation across the region. The violence immediately threatened key trade routes, particularly the Strait of Hormuz, which was closed within the first 48 hours of the conflict, sending shockwaves through global energy markets and raising fears of wider instability. As the conflict dragged on, a parallel front emerged in Lebanon, where fighting between Israel and Hezbollah intensified from April 8, further complicating efforts to secure a diplomatic resolution. Pakistan&#39;s early diplomatic outreachPakistan moved quickly to launch a diplomatic campaign to contain the conflict, with both Prime Minister Shehbaz Sharif and Deputy Prime Minister and Foreign Minister Ishaq Dar reaching out to regional and international partners. Within the first 10 days of the conflict, Dar engaged with 14 countries, including Iran, Uzbekistan, Saudi Arabia, the United Arab Emirates, Qatar, Oman, Iraq, Bahrain, China, Azerbaijan, Egypt, T&uuml;rkiye, Canada and Malaysia.&nbsp; He also held consultations with the Gulf Cooperation Council, the European Union and the Commonwealth. At the same time, Sharif contacted more than 10 world leaders within the first week of the conflict, urging restraint and calling for diplomacy between the warring parties. As the crisis deepened, Pakistan expanded its diplomatic outreach. Before a ceasefire was secured on April 8, PM Sharif had held 37 bilateral conversations with world leaders and senior officials, while Dar engaged with 81 regional and international counterparts, including seven direct contacts with the Iranian leadership. The Islamabad TalksFollowing the ceasefire, the United States and Iran met for the first time since the outbreak of hostilities in what became known as the &quot;Islamabad Talks,&quot; a breakthrough made possible by Pakistan&#39;s diplomatic efforts. The talks, however, did not immediately produce a peace agreement. After 21 hours of discussions in Islamabad, negotiators left without a final settlement. Although the meeting ended without an immediate breakthrough, Pakistani officials viewed it as an important first step toward sustained engagement. The ceasefire itself remained fragile, having initially been agreed for only two weeks. On April 22, as concerns mounted that the ceasefire could collapse, PM Sharif reached out to Trump after the US president had earlier warned of potentially catastrophic consequences if hostilities resumed. During that two-week period alone, Sharif and Dar held more than 45 conversations with regional and international partners aimed at preserving the ceasefire and maintaining diplomatic momentum. The effort helped secure an extension of the truce, while Pakistan continued to advocate for a broader agreement between Washington and Tehran. Continued diplomacyWith both sides engaged in dialogue, attention shifted toward finding common ground on a lasting settlement. That process proved difficult. From April 22 until the announcement of the agreement early on Thursday, Dar engaged with more than 45 leaders and senior officials on developments in the region, consistently advocating for durable peace and long-term stability. During the same period, PM Sharif discussed the conflict with more than 10 counterparts as Islamabad worked to keep negotiations on track. The diplomatic effort went beyond telephone diplomacy. PM Sharif, FM Dar, Interior Minister Mohsin Naqvi, and Chief of Defense Forces Field Marshal Asim Munir undertook multiple engagements across the region, meeting key stakeholders and reinforcing support for the peace process. Those efforts culminated on June 18 with the signing of the Islamabad Memorandum of Understanding, an agreement that Pakistan says reflects the success of sustained diplomacy, dialogue and regional cooperation. The accord concludes 110 days of conflict that tested regional stability, disrupted global trade routes and raised fears of a wider Middle East war.&nbsp; While the agreement was ultimately negotiated by Washington and Tehran, Pakistan&#39;s role in maintaining channels of communication throughout the crisis helped create the conditions that made the deal possible.

The signing of Islamabad MOU. (Photo: PM Office)

Foreign Affairs

From emergency calls and shuttle diplomacy to hosting breakthrough negotiations, Pakistani officials spent months engaging dozens of world leaders, preserving ceasefires and keeping communication channels open as efforts gradually evolved into a formal peace framework.


Inside Pakistan's 110-day diplomatic push to end the US-Iran war

Web Desk

ISLAMABAD: BP (British Petroleum) has reported one of its strongest profit performances in recent years, even as the global oil market faces severe disruption from the Strait of Hormuz crisis and the ongoing war in Iran. The British energy giant posted first-quarter underlying replacement cost profits of $3.2 billion, more than doubling from a year earlier and exceeding analyst expectations by about 20%, Reuters reported.&nbsp; Sky News highlighted that these were BP&rsquo;s first results since the war in Iran began, with profits rising sharply as the conflict drove up global oil prices.&nbsp; The report noted that benchmark prices surged after attacks effectively closed the Strait of Hormuz, through which around one-fifth of global oil and liquefied natural gas normally flows.&nbsp; Despite oil averaging only about $81 per barrel during the quarter, BP&rsquo;s profits more than doubled, reflecting what the company itself described as &ldquo;exceptional oil trading,&rdquo; according to Sky News.&nbsp; This highlights a key dynamic in the current crisis: While many oil companies have faced losses from disrupted supply chains, stranded shipments and higher insurance costs, firms with large trading operations have been able to capitalize on price volatility.&nbsp; <div><div style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2049013102960591000&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=119ed3eb553d52f70f38ab3053361340efbc9998&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 641px; display: block; flex-grow: 1;" spellcheck="false"></iframe></div></div>Reuters reported that BP&rsquo;s trading division was a major driver of earnings, benefiting from supply disruptions and sharp market swings triggered by the conflict. The broader oil market, however, remains under strain. The closure of Hormuz has disrupted shipments, cut output and created legal and logistical challenges for producers and traders, even as prices surged.&nbsp; These disruptions have forced companies to reroute cargoes, absorb higher costs and deal with delayed deliveries. BP itself was not immune to these pressures. Reuters reported that the company relied on increased production in the United States to offset disruptions to Gulf flows, while its net debt rose to $25.3 billion due to working-capital impacts linked to the crisis.&nbsp; The profit surge has raised concerns about rising energy costs for consumers, as higher oil prices linked to the war continue to feed into fuel and household energy bills, Sky News said. The results underscore a widening divide in the oil industry.&nbsp; While the market faces instability and supply risks, companies like BP with strong trading arms are turning volatility into record earnings, even as the broader energy system remains under stress.

Business

British Petroleum (BP) posted $3.2 billion in quarterly profit as oil volatility from the Iran war and Hormuz crisis boosted trading earnings, despite disrupted shipments, rising debt and consumer cost concerns.

Articles tagged with "US Iran conflict"

Inside Pakistan's 110-day diplomatic push to end the US-Iran war

Crisis pays: BP posts first quarter $3.2B profit

Inside Pakistan's 110-day diplomatic push to end the US-Iran war