Iranian President Masoud Pezeshkian called for an end to the conflict with the United States on Friday, suggesting a departure from the views of hardline factions within the country. He acknowledged the significant economic impact of U.S. sanctions, which have reportedly cost Iran billions. Pezeshkian stated, "It is better to end the war today, when we are in power and dignity, and the whole world acknowledges our victory..." He criticized those who oppose peace negotiations, emphasizing the need to recognize the hardships faced by the Iranian populace.
The U.S. blockade of Iranian ports has severely affected Iran's economy, with losses estimated at nearly $5 billion in oil revenue by early May. The head of the Iran-China Chamber of Commerce indicated that the blockade could lead to annual losses of $18 billion if it continues. Despite claims of U.S. control over the Strait of Hormuz, Iran maintains the ability to disrupt shipping in the area.
Iran is reportedly in discussions with Oman regarding a transit agreement through the Strait of Hormuz, although progress has been slow. A recent trade deal between Iran and Oman is awaiting final approval from Iran's Islamic Consultative Assembly. The ongoing conflict has lasted six months, with a recent ceasefire expiring without a permanent resolution, resulting in injuries to 756 U.S. military personnel according to the Pentagon.