US envoys travel to Pakistan amid stalled Iran negotiations

US envoys Steve Witkoff and Jared Kushner will travel to Pakistan for discussions with Iranian officials, as Iranian Foreign Minister Abbas Araghchi has arrived in Islamabad. The White House confirmed the visit, which occurs amid deadlocked negotiations between the US and Iran regarding Tehran's nuclear ambitions. US Secretary of Defense Pete Hegseth emphasized that Iran still has an 'open window' to negotiate a deal to abandon its pursuit of a nuclear weapon in 'meaningful and verifiable ways'.

The diplomatic visits come as the US has frozen $344 million in cryptocurrency assets linked to Iran, according to Treasury Secretary Scott Bessent. This move is part of Washington's strategy to increase pressure on Tehran amid ongoing energy supply disruptions due to the conflict. Despite the uncertainty surrounding Iran's participation in renewed negotiations, there are signs of cautious optimism from Pakistani mediators regarding potential progress.

In the broader context, the US has ruled out extending waivers for Iranian oil shipments and imposed sanctions on entities involved in transporting Iranian oil. The US military has also increased its presence in the Middle East, with three aircraft carriers deployed, marking a significant military buildup since the 2003 invasion of Iraq. Meanwhile, European Council President Antonio Costa has called for the immediate reopening of the Strait of Hormuz, highlighting the strategic importance of this maritime route.

What to watch: The outcome of the US envoys' discussions in Pakistan and any potential response from Iran regarding renewed negotiations.