Pakistan delivers US ceasefire proposal to Iran; Tehran rejects it
Iran says the US plan is excessive and will end the war only on its own terms, even as oil prices fall on hopes of a deal. The 15-point US draft, relayed via Pakistan, covers nuclear limits, missile caps, and reopening Hormuz in exchange for sanctions relief and civil nuclear support.
Mar 25, 2026, 9:45 AM EDT
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Why it matters:
- A potential de-escalation could ease global energy markets and reduce regional escalation risks. Iran’s outright rejection raises the odds of continued strikes and shipping disruptions.
Driving the news:
- Pakistan delivered a US ceasefire proposal to Iran, according to Iranian and Pakistani authorities speaking to Reuters, AP and AFP. - Iran’s state media said Tehran rejected the US plan as “excessive” and warned it would end the war only when its conditions are met. - The US draft reportedly contains 15 points, including sanctions relief, civil nuclear cooperation, limits on Iran’s nuclear and missile programs, IAEA access, and reopening the Strait of Hormuz.
State of play:
- Iran’s Revolutionary Guards announced strikes against northern and central Israel and US bases in Kuwait, Jordan and Bahrain; Israeli emergency services said 12 people were injured near Tel Aviv. - Oil prices fell and equities rebounded after the reports, as traders priced in a possible de-escalation. - Iran’s foreign ministry said it received messages from “friendly countries” about a US request to start talks, but denied formal negotiations with Washington.
What they're saying:
- “Iran reacted negatively to the American proposal,” state TV said, adding the war will end when Iran decides, not when Trump decides. - “We will never make an agreement with you. Not now. Not ever,” a military spokesman told state TV, mocking US efforts. - A senior Iranian official told Reuters the US plan is “partial and unfair.”
Reality check:
- Iran says it will not accept a ceasefire on US terms and will continue defending itself. - The US and Israel launched attacks on Iran on Feb. 28, citing Tehran’s intransigence on uranium enrichment talks.
What to watch:
- Whether Iran’s five non-negotiable conditions — including an end to US “aggression,” war reparations, and recognition of Iran’s authority in Hormuz — are formally transmitted and how Washington responds. - Any formal venue for talks; Iran has floated Turkey or Pakistan as possible hosts. - Shipping flows through Hormuz and oil prices, which could swing sharply on fresh signals.
The bottom line:
- A US-brokered deal is on the table, but Tehran’s hardline response keeps the war’s trajectory uncertain.