U.S.-Iran deal will take months, Gulf and European officials say

A ship is seen off the coast of Ras al-Khaimah, the day after the failure of US-Iran peace talks on April 13, 2026. Photo by AFP via Getty ImagesArticle contentSome Gulf Arab and European leaders believe that a U.S.-Iran peace deal will take about six months to be agreed and that the warring sides should extend their ceasefire to cover that timeframe, according to officials from the regions familiar with the matter.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe leaders want the vital Strait of Hormuz opened immediately to restore energy flows and are warning in private that a global food crisis may develop if that doesn’t happen by next month, said the officials, who asked not to be identified discussing private talks.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentEnergy prices will probably rise even more should the war stretch beyond that, they said. Brent crude climbed about 3.5 per cent to more than US$98 a barrel on Thursday.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentGulf states believe Iran is looking to build a nuclear weapon and that hasn’t changed in the wake of the U.S.-Israeli bombardment of the country, said the officials. They thus think a peace deal should ban Iran from enriching uranium or having long-range ballistic missiles, the officials said.Article contentStill, Gulf leaders are mostly against any return to fighting and want the U.S. to pursue diplomacy with Iran, said the officials.Article contentSpokespeople for the governments of Saudi Arabia, Qatar, Kuwait, Oman and Bahrain did not immediately respond to Bloomberg requests for comment. The foreign ministry of the United Arab Emirates referred Bloomberg to an April 8 statement in which it said that there must be an “unconditional reopening of the Strait of Hormuz.”Article contentThe UAE’s statement “emphasized the need for a comprehensive and sustained approach that addresses Iran’s full range of threats, including its nuclear capabilities, ballistic missiles, drones, military capabilities, and affiliated proxies and terrorist groups.”Article contentArticle contentThe U.S. and Israel began bombing Iran in late February and the ensuing war has wreaked havoc across the Middle East. Iran retaliated by striking Israel as well as countries including Saudi Arabia, the UAE and Qatar, firing missiles and drones at their cities, ports and petroleum sites.Article contentRead More Trump isolation deepens on world stage as allies rebuff, condemn Trump hints at war's end as Hormuz standoff chokes oil flows Article contentOil prices have eased since a ceasefire started around April 8, but are still up 35 per cent since the conflict began.Article contentStrait shutArticle contentCrucially, the Strait of Hormuz has been effectively shut since the start of the conflict, hurting the economies of the Gulf states because they are no longer able to export normal levels of oil, liquefied natural gas, aluminum and products such as fertilizers.Article contentWashington and Tehran are weighing a two-week extension of the truce, which ends on Tuesday late U.S. time, Bloomberg reported. That would allow them more time to negotiate a peace deal.Article contentThere is no guarantee the two sides can agree to prolong the ceasefire, let alone reach a formal peace deal. Beyond the Hormuz strait, which Iran says it wants to have control over indefinitely, contentious issues include Iran’s nuclear and missile programs, sanctions relief for the Islamic Republic, and the ongoing war in Lebanon between Israel and Tehran-backed Hezbollah.Article contentU.S.

President Donald Trump on Thursday announced a 10-day ceasefire between Israel and Lebanon, without mentioning Hezbollah. Some of the officials said a ceasefire in Lebanon could help with the Iran talks.Article contentBloomberg.comArticle contentTrending The Great Correction: Not even Wayne Gretzky's hometown could escape the crash of the 'exurbs' Real Estate A rise in mortgage rates may ‘pull the rug' out from under the spring housing market, says CREA Mortgages Posthaste: What Mark Carney's gas tax cut could mean for the Bank of Canada News Cineplex gauging interest from potential buyers Retail & Marketing What is Anthropic's Mythos AI model and why does it have the financial world in a panic? Innovation Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.

The Great Correction: Not even Wayne Gretzky's hometown could escape the crash of the 'exurbs' Real Estate A rise in mortgage rates may ‘pull the rug' out from under the spring housing market, says CREA Mortgages Posthaste: What Mark Carney's gas tax cut could mean for the Bank of Canada News Cineplex gauging interest from potential buyers Retail & Marketing What is Anthropic's Mythos AI model and why does it have the financial world in a panic? Innovation