As the world watches Pakistan’s capital, Tehran has issued critical preconditions for the high-level peace negotiations scheduled in Islamabad. Iranian Parliament Speaker Mohammad Baqer Ghalibaf has demanded the immediate unfreezing of assets and a comprehensive Lebanon ceasefire before formal discussions with the United States can proceed. These demands have introduced significant tension into what Prime Minister Shehbaz Sharif has described as a “make-or-break” moment for regional stability.
The conflict, which has already caused a massive disruption to global energy, remains on a knife-edge. While a two-week ceasefire was brokered by Pakistan to halt direct US and Israeli strikes on Iran, military operations in southern Lebanon continue to claim lives. Iran maintains that the truce agreement must include its allies, specifically calling for an end to the bombardment of Hezbollah positions. Meanwhile, US Vice President JD Vance, leading the American delegation, has arrived in Islamabad with a warning that Washington will not be “played” during these diplomatic efforts.
Adding to the pressure, US President Donald Trump has publicly criticized Iran’s management of the Strait of Hormuz, stating that Tehran is doing a “very poor job” of maintaining the flow of oil. The global economy remains vulnerable as billions of dollars in Iranian foreign assets remain blocked under US sanctions. Tehran’s 10-point proposal insists on the lifting of these banking restrictions and the establishment of transit tolls, while the US 15-point framework focuses heavily on nuclear infrastructure and ballistic missile constraints.
Despite the last-minute hurdles, the international community remains hopeful. Pakistan’s role as a neutral facilitator has brought both sides to the table, and the presence of high-ranking officials like Ishaq Dar and Field Marshal Asim Munir underscores the depth of the mediation. The goal in Islamabad is to fill the confidence-building gap and ensure that this fragile pause in hostilities transitions into a permanent ceasefire, preventing further devastating consequences for the entire world.
