The ongoing eight-week war between the U.S., Israel, and Iran has reached a sudden pause. President Donald Trump announced late Tuesday evening he is indefinitely extending the two-week military ceasefire with Tehran. This halts imminent American airstrikes.
The executive action arrives as global energy markets buckle. Iran’s retaliatory closure of the Strait of Hormuz continues to choke supply lines. The U.S. Navy is maintaining a strict physical blockade on Iranian ports, including Kharg Island. Brent crude oil surged to $96.27 per barrel following recent escalations.
Trump issued the directive via Truth Social. The administration agreed to prolong the halt in bombings at the direct request of Pakistani leadership while keeping the naval operations intact.
Vice President JD Vance was scheduled to travel to Islamabad. That diplomatic mission is now on an indefinite hold. Tehran has not formally committed to participating in the peace talks. The urgent mediation efforts led by Pakistan have temporarily stalled as a result.
The proposed framework in Islamabad centers on a massive financial exchange. Negotiators floated exchanging $20 billion in frozen Iranian assets for Tehran’s stockpile of highly enriched uranium.
Iranian leadership dismissed the U.S. posturing. Parliamentary speaker Mohammad Bagher Ghalibaf publicly rejected the timeline. He stated Tehran will not accept negotiations “under the shadow of threats.” Violence continued elsewhere in the region. Hezbollah forces launched an attack on northern Israel on Tuesday. The militant group cited alleged Israeli violations of the regional ceasefire.
The domestic fallout from the February 28 escalation is mounting. A recent AP-NORC poll placed Trump’s approval rating on the economy at 30%. Only 32% of respondents approved of his leadership regarding the Iran conflict.
How the Islamabad Mediation Shift Alters U.S. Military Posture
The indefinite ceasefire extension marks a stark departure from the administration’s initial threat of immediate bombardment. By leaning entirely on Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, the White House is transferring the immediate diplomatic burden to Islamabad.
This prolonged waiting game traps global energy markets in a volatile limbo. With Brent crude already passing $96, the lack of a definitive military or diplomatic resolution ensures ongoing economic pressure on U.S. domestic markets. The naval blockade at Kharg Island persists, but the pivot to an indefinite pause suggests the U.S. is prioritizing the $20 billion asset-for-uranium deal over kinetic escalation in the short term.