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Pakistan’s army chief carries Iran proposal to ease sanctions
The proposal is framed under Pakistan’s Islamabad Memorandum of Understanding, and markets reacted with a drop in oil prices and a rise in equities as expectations of US-Iran de escalation grew.
Pakistan’s Army Chief Asim Munir is reportedly carrying a proposal to Iranian leaders aimed at reducing tensions with the United States, with the plan described as offering to halt economic pressure on Iran and gradually lift sanctions under Pakistan’s Islamabad Memorandum of Understanding, according to Forexlive citing Al Arabiya. Separately, Iran’s ISNA news agency said Pakistani officials described Munir’s Tehran visit as fruitful, with the results expected to become clearer soon. Forexlive also noted that Pakistani and Iranian officials have continued consultations on mechanisms to reduce regional tensions and revive the diplomatic process.
The developments come after Munir’s high level trip to Tehran alongside Pakistan’s Interior Minister Mohsin Naqvi. Forexlive added that it followed reports that US President Trump spoke directly with Munir ahead of the trip, encouraging Pakistan to use its influence to help bring Iran back to negotiations.
Forexlive said the news has been met with positive market reaction, with oil prices falling after the reports and equities moving higher, reflecting expectations for potential de escalation between Iran and the US.