The only silver lining is that the Iran ceasefire, announced on April 8, is still holding. Despite Mr. Trump’s threats, he has held fire even after Iran seized ships in the Persian Gulf. Tehran, too, despite warning retaliation over a U.S. seizure of an Iranian tanker, has not followed through. Both sides have remained diplomatically engaged through Pakistan. The alternative to diplomacy is disaster. The U.S. and Israel bombed Iran for 40 days but failed to secure a favourable strategic outcome, and the global economic fallout of this illegal war is now being felt. For diplomacy to succeed, Mr. Trump and the Iranian leadership should adopt a phased approach. Rather than acting as if the war has not changed the region’s strategic realities, the U.S. should offer tangible concessions to Iran in return for compromises on core issues. Iran has demonstrated a measure of deterrence by asserting control over the Strait of Hormuz. But if it continues to disrupt commercial traffic, further damaging the global economy, it risks squandering the goodwill it enjoys as the underdog. A practical first step would be reciprocal de-escalation: the U.S. lifting its blockade and Iran reopening the Strait to commercial shipping. This would also reinforce the fragile ceasefire and build confidence, paving the way for the next round of direct talks on outstanding issues, including the nuclear programme.
Published – April 29, 2026 12:10 am IST







