By Admin 
Middle East Tensions: Hopes for peace in Western Asia have suffered a major blow when US President Donald Trump rejected Iran’s new peace proposal. After this, a sharp rise in oil prices was seen in the global market on Monday, which is indicating that the conflict that has been going on for the last 10 weeks may drag on longer.
In fact, after receiving the proposal for talks from Washington, Tehran on Sunday presented its plan with some conditions to end the war. This also included the issue of Lebanon, where Israel continues to attack the Iran-backed organization Hezbollah.
Shock to the last hope of peace!
Iran’s terms included compensation for war damages, recognition of its sovereignty in the Strait of Hormuz, an end to the US naval blockade, removal of economic sanctions and lifting of the ban on the export of Iranian oil. However, just hours after Tehran’s proposal, Trump rejected it, calling it “completely unacceptable.” Without giving any detailed reason on social media, he clearly said that he did not accept this proposal.
After this development the regional crisis may deepen further. The US has already called for an end to the war before talks on issues such as its nuclear programme, while Iran says its demands are completely legitimate – including lifting the blockade and returning frozen assets.
The crisis may deepen!
Amidst this tension, turmoil in the oil market has increased. According to reports, oil prices increased by about $4 on Monday. It is noteworthy that about one-fifth of the world’s oil supply passes through the Strait of Hormuz, and its blockade could pose a serious threat to the global economy.
With the failure of peace talks and the continuation of the blockade, not only the Middle East but the entire world is facing a major economic and strategic crisis.
Also read: ‘Trump’s entire tenure is a therapy session’, Iranian Embassy takes a dig at Tehran’s rejection of its new proposal