IRAN WAR UPDATES: Talks to end war in Iran stall as economies feel impact of rising energy costs
· Toronto Sun
Talks on ending the war between Iran and the United States seemingly stalled on Wednesday, despite U.S. President Donald Trump claiming earlier that Iran had informed his administration that it was in a “State of Collapse.”
“They want us to ‘Open the Hormuz Strait,’ as soon as possible, as they try to figure out their leadership situation,” Trump posted on Truth Social. The White House didn’t immediately respond to questions about how the message from Iran was communicated.
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Meanwhile, Pakistan said its weekly oil import bill has surged by about 167% due to soaring global energy prices. Prime Minister Shehbaz Sharif said on Wednesday that the weekly oil import bill had risen from $300 million before the Middle East conflict to $800 million.
Similarly, European Commission President Ursula von der Leyen said the war, combined with retaliation from Iran such as choking the Strait of Hormuz, is costing the European Union almost 500 million euros ($600 million) a day, raising prices at the pumps and fears of a jet fuel shortage within weeks.
Here is the latest on the Iran war on Wednesday:
Iran’s highly enriched uranium likely at Isfahan: IAEA
The majority of Iran’s highly enriched uranium is likely still at its Isfahan nuclear complex, which was bombarded by airstrikes last year and faced less intense attacks in this year’s U.S.-Israeli war, said the head of the UN nuclear agency.
Rafael Grossi said the International Atomic Energy Agency has satellite images showing the effects of the latest U.S.-Israeli airstrikes against Iran and that “we continue to get information.”
IAEA inspections ended at Isfahan when Israel last June launched a 12-day war that saw the United States bomb three Iranian nuclear sites.
The UN nuclear watchdog believes a large percentage of Iran’s highly enriched uranium “was stored there in June 2025 when the 12-day war broke out, and it has been there ever since,” Grossi said.
Pakistan’s weekly oil bill rises to $800M
Pakistan’s weekly oil import bill has surged by about 167% due to soaring global prices, adding strain to the cash-strapped nation’s fragile economy, Prime Minister Shehbaz Sharif said.
In televised remarks during a cabinet meeting, Sharif said the weekly oil import bill had risen from $300 million before the conflict to $800 million.
He said the government is taking steps to conserve energy and reduce oil consumption, and that diplomatic efforts to promote peace are still ongoing.
Pakistan continuing efforts to ease U.S.-Iran tensions
Pakistan’s Prime Minister Shehbaz Sharif said Wednesday his government is continuing efforts to help ease tensions between the United States and Iran.
Speaking during a cabinet meeting in Islamabad, Sharif said a “marathon session” was held in the capital during an initial round of direct talks between the two sides on April 11, leading to progress on a ceasefire that remains in place.
He said Iran’s Foreign Minister Abbas Araghchi visited Pakistan over the weekend during the ceasefire, where another extended round of talks took place between Iran and Pakistan. Araghchi later travelled to Oman, returned briefly, and then departed for Russia, Sharif said.
Sharif said before leaving for Moscow, Araghchi spoke to him by phone and “assured me that after consulting with his leadership, he would respond as soon as possible.” He did not specify what Araghchi would respond to, but Pakistan has said it is seeking to host a second round of talks between the United States and Iran.
Hegseth to face U.S. Congress for first time since war began
U.S. Defence Secretary Pete Hegseth will face questioning from members of Congress for the first time since the Iran war began.
The hearing on Wednesday before the House Armed Services Committee will focus on the Trump administration’s $1.5-trillion military budget for 2027.
Democratic lawmakers are likely to grill Hegseth on the Iran war’s costs and the huge drawdown of critical munitions. While a ceasefire is now in place, the U.S. and Israel launched the war Feb. 28 without congressional oversight.
— With files from The Associated Press