The recent escalation of tensions between Iran and the United States has exposed the global financial system to unprecedented risks, according to a prominent American publication. The publication reports that the Iran-US conflict has sent shockwaves through the Petrodollar system, leaving both legs of the mechanism paralyzed and the global financial balance at risk.
The publication highlights that the 1974 agreement, which allowed oil to be traded for dollars that would then return to the US economy, had previously strengthened the dollar. However, this arrangement has now broken down. According to the report, large central banks have been continuously selling American Treasury bonds, resulting in a decline of 82 billion dollars in holdings and an increase in yields from 3.9% to 4.4%.
The publication also notes that the high price of oil and weakening currencies have led countries such as Turkey and India to sell American bonds to acquire dollars. On the other hand, the closure of the Strait of Hormuz has disrupted oil shipments and affected the investment of oil-exporting countries in dollars. US President Trump has stated that negotiations with Iran will begin soon, and it is possible that Iran may not participate in the talks due to security concerns.
Global oil prices have shown a downward trend, with a 21% decline in U.A.E. Marbon prices, according to London’s international market. A high-ranking Iranian official has suggested that Iran may reopen the Strait of Hormuz on a limited basis on Friday after controlling it.
Israeli Army Chief, General Eyal Zamir, has vowed to continue airstrikes on Hezbollah targets in Lebanon without a ceasefire agreement. Meanwhile, the global community has welcomed the two-week ceasefire agreement between the US and Iran as a positive development. Austria’s leadership has praised Pakistan’s role in this development.
Various European newspapers, including French publications, have published reports highlighting Pakistan’s role in the Iran-US ceasefire agreement. Some of these reports have mentioned the special contributions of Pakistan’s Field Marshal Asim Munir, Lieutenant General Asim Saleem Bajwa, Prime Minister Shehbaz Sharif, and Deputy Prime Minister Ishaq Dar. Some of the key highlights of these reports are as follows:
European Council President Antonio Costa, European Commission President Ursula von der Leyen, and European External Affairs Commissioner Josep Borrell have separately released statements. Chairman of the Kashmir Council, Ali Raza Syed, has stated that Pakistan’s role in the two-week ceasefire agreement between the US and Iran is commendable. This is a significant and positive development.
The United Arab Emirates has stated that its air defense system has destroyed 17 ballistic missiles. According to a statement from the UAE Ministry of Defense, 35 drones were intercepted by Iran. UAE President Abdel Fattah el-Sisi has emphasized that the agreement must be fully implemented without any provocation, conspiracy, or sabotage. Ukrainian President Volodymyr Zelensky has welcomed the Iran-US ceasefire agreement and expressed his willingness to sign a ceasefire agreement with Russia.
Since the announcement of the ceasefire, there has been a significant reduction in ship traffic through the Strait of Hormuz. According to J.D. Vance, the US and its allies have agreed to refrain from attacking Iran. The Kremlin believes that this development could help reduce tensions in the region.
Pakistan’s Prime Minister Shehbaz Sharif has stated that ceasefire violations are undermining the spirit of peace. US President Trump has stated that negotiations with Iran will begin soon, but it is possible that Iran may not participate in the talks due to security concerns. Iranian Foreign Minister Hossein Amir-Abdollahian has spoken with Pakistan’s Chief of Army Staff, General Asim Munir.
Global oil prices continue to show a downward trend, with a 21% decline in U.A.E. Marbon prices, according to London’s international market.
The Islamabad administration has declared a public holiday on April 9 and 10. The wife of South Indian actor Prabhas’ brother, Prabhas’ brother’s wife, has stated that their son, Mark Shankar, was present in Singapore last year when a fire broke out. The investigation into the incident is ongoing. After wishing her son Akira Nandu on his 22nd birthday, Analiza Nave also spoke about her son Mark Shankar Pownowich.
