Talks aimed at ending the war between Iran and the United States appeared to stall on Wednesday, despite U.S. President Donald Trump asserting that Iran had informed his administration it was in a "State of Collapse." Trump posted on Truth Social that Iran wants the U.S. to "Open the Hormuz Strait" as soon as possible while they sort out their leadership. The White House did not immediately clarify how the message from Iran was received.
Meanwhile, Pakistan reported that its weekly oil import bill has skyrocketed by about 167% due to soaring global energy prices. Prime Minister Shehbaz Sharif stated on Wednesday that the weekly cost rose from $300 million before the Middle East conflict to $800 million. Similarly, European Commission President Ursula von der Leyen noted that the war, combined with Iranian retaliation such as blocking the Strait of Hormuz, is costing the European Union nearly 500 million euros ($600 million) daily, driving up fuel prices and raising concerns of a jet fuel shortage within weeks.
IAEA: Iran's Highly Enriched Uranium Likely at Isfahan
The head of the UN nuclear agency, Rafael Grossi, said that the majority of Iran's highly enriched uranium is probably still located at the Isfahan nuclear complex. This site was bombed by airstrikes last year and faced further attacks during the current U.S.-Israeli war. Grossi stated that the International Atomic Energy Agency (IAEA) has satellite imagery showing the effects of the latest strikes and continues to gather information. IAEA inspections at Isfahan ceased when Israel launched a 12-day war in June 2025, during which the United States bombed three Iranian nuclear sites. Grossi believes a large portion of Iran's highly enriched uranium was stored there at that time and has remained ever since.
Pakistan's Economic Strain
Prime Minister Shehbaz Sharif highlighted the severe economic impact on Pakistan, with the weekly oil import bill surging to $800 million. He announced that the government is implementing energy conservation measures and reducing oil consumption while continuing diplomatic efforts to promote peace. During a cabinet meeting in Islamabad, Sharif also discussed Pakistan's role in easing U.S.-Iran tensions.
Pakistan's Diplomatic Efforts
Sharif revealed that a "marathon session" was held in Islamabad during an initial round of direct talks between the U.S. and Iran on April 11, which led to progress on a ceasefire that remains in effect. Iran's Foreign Minister Abbas Araghchi visited Pakistan over the weekend for extended talks, then traveled to Oman, returned briefly, and departed for Russia. Before leaving for Moscow, Araghchi assured Sharif in a phone call that he would respond as soon as possible after consulting with Iranian leadership. Pakistan is seeking to host a second round of U.S.-Iran talks.
Hegseth to Face Congress
U.S. Defence Secretary Pete Hegseth will testify before the House Armed Services Committee on Wednesday for the first time since the Iran war began. The hearing will focus on the Trump administration's $1.5 trillion military budget for 2027. Democratic lawmakers are expected to question Hegseth about the war's costs and the significant depletion of critical munitions. The U.S. and Israel launched the war on February 28 without congressional oversight, though a ceasefire is currently in place.
— With files from The Associated Press
