Iran Rejects Two-Stage Peace Proposal as Israel Strikes Major Oil Field
Tehran has officially declined a proposed two-stage mediation plan intended to halt the ongoing conflict with the United States and Israel, insisting that only a permanent end to the war will be acceptable. The diplomatic deadlock coincided with a sharp escalation in military action, as Israel launched airstrikes against Iran’s largest oil field.
The two-stage mediation framework sought to establish a sequence of events beginning with a ceasefire, which would then pave the way for a formal agreement to end the war. However, Iranian officials have rejected the offer for a temporary truce, stating in an official response that they will not accept anything short of a permanent cessation of hostilities. This position was further solidified as reports confirmed that Iran refused the U.S. End-of-war plan, reiterating that only a permanent settlement is acceptable.
The current war, which broke out on February 28, 2026, began with preemptive strikes by the U.S. And Israel targeting the Iranian regime’s leadership and nuclear capabilities. These strikes resulted in the death of Supreme Leader Ayatollah Ali Khamenei and triggered a wide-scale international conflict. The war has since expanded to include the blockade of the Strait of Hormuz, attacks on Cyprus, and a separate conflict in Lebanon involving Hezbollah.
Despite the volatility and the closure of the Strait of Hormuz, some global financial hubs are still searching for signs of stability. In Seoul, market participants are monitoring the situation for potential ceasefire news, hoping such a development could stabilize currency exchange rates.
The simultaneous rejection of diplomatic mediation and the targeting of critical energy infrastructure underscore the deepening divide between the belligerents. This development suggests that a diplomatic resolution remains unlikely as the regional crisis continues to intensify on April 7, 2026.
