Iranian-American negotiations for 14 hours were "fruitless," but will continue on the 12th. Iran rejects the US proposal of "joint management of the Strait of Hormuz." Trump stated, "I don't care whether an agreement is reached or not."

Iran and the United States' negotiations in the Pakistani capital of Islamabad have reached a deadlock, with sharp disagreements on three major core issues, and the direction of the Middle East situation remains highly uncertain. According to Xinhua News Agency citing reports from Iranian Tasnim News Agency and Fars News Agency, on April 12 local time, Iran and the US have completed the third round of negotiations. Sources quoted in the reports stated that due to the US side's "unreasonable and excessive demands," the two sides were unable to reach an agreement on their differences and are working on drafting a new text. From the afternoon of the 11th to the early morning of the 12th, the negotiations lasted 14 hours, and at the proposal of the Pakistani side, the negotiations were extended for another day. Since the 11th, the negotiation agenda has been intense and discussions have continued late into the night, but sharp disagreements remain on the three core issues of controlling the Strait of Hormuz, unfreezing overseas assets, and uranium enrichment. As negotiations reached a stalemate, the US military announced the commencement of mine-sweeping operations in the Strait of Hormuz, while Israeli Prime Minister Benjamin Netanyahu publicly stated their intention to continue to strike Iran and its proxies. Diplomatic maneuvers and military actions are simultaneously escalating, and the market remains highly alert to the uncertainties in the Middle East situation. Trump says "not concerned about reaching an agreement" According to Xinhua News Agency, US President Trump said during an interview with reporters at the White House on the 11th that the negotiations between the US and Iran in Islamabad could lead to an agreement or may not, but for him, "it makes no difference." According to CCTV International News, on the early morning of April 12, a spokesperson for the Iranian Foreign Ministry announced that the two sides exchanged a large amount of information on major issues such as the Strait of Hormuz, the nuclear issue, war reparations, lifting sanctions, and ending the war. Iran stated that it is "making every effort to uphold its rights" and emphasized that the success of the diplomatic process depends on the sincerity of the US side, as well as whether the US side puts forward unreasonable and illegal demands and whether it accepts Iran's legitimate rights. Control of the Strait of Hormuz: the most contentious issue According to CCTV News, control of the Strait of Hormuz is the most prominent issue of contention in this round of negotiations. The Iranian side rejected the US's proposal for "joint control" and insisted on retaining control of the strait, claiming the right to charge "tolls" to passing ships. On the 10th, President Trump stated that the Strait of Hormuz will be "opened soon" regardless of "Iran's cooperation." He said that the Strait of Hormuz is international waters, and he will not allow Iran to charge tolls for passage. Iranian Parliament National Security and Foreign Policy Committee Chairman Ibrahim Azizi posted on social media on the 11th, stating that passage through the Strait of Hormuz must be approved by the Iranian side. Asset unfreezing with conflicting claims, no compromise on uranium enrichment Regarding the issue of unfreezing assets, both sides have conflicting claims. According to CCTV News, a senior Iranian source stated that the US has agreed to unfreeze Iranian assets held in Qatar and other foreign banks, but US officials quickly denied this claim. The Iranian source stated that unfreezing funds is an important condition proposed by Iran to the US and that the funding issue "directly relates to" the security passage arrangements in the Strait of Hormuz. Another Iranian source stated that the US has agreed to unfreeze around $6 billion in funds. On the issue of uranium enrichment, both sides are equally opposed. Trump stated that ensuring Iran cannot possess nuclear weapons is the top priority for the US negotiating team, with the White House labeling Iran's abandonment of uranium enrichment as a "red line" that will not be crossed. Iran insists on retaining a certain level of uranium enrichment activities and demands the lifting of relevant restrictions by the International Atomic Energy Agency. Outside the negotiation table, military actions continue to escalate pressure. During the negotiations, military movements outside the negotiations are also being closely watched. According to CCTV News, on the 11th local time, the US Central Command announced that two US Navy missile destroyers traversed the Strait of Hormuz and operated in the Persian Gulf, stating that this was part of the complete clearance of mine-laying tasks by the Islamic Revolutionary Guard Corps in the strait. A spokesperson for Iran's armed forces, Hamid Abizia, strongly denied this, stating that the right of passage of any vessel through the Strait of Hormuz is completely in the hands of Iran's armed forces. At the same time, Israeli Prime Minister Netanyahu posted on social media on the 11th, stating that Israel will "continue to strike the Iranian regime and its proxies" under his leadership. The Israeli Defense Forces also stated that in the past 24 hours, Israeli forces targeted more than 200 Hezbollah targets inside Lebanon. This article was reprinted from Wall Street Horizon, edited by GMTEight: Chen Wenfang.