More than five months into the war, concerns have been mounting about the sustainability of the U.S. military campaign. The U.S. Army has used up much of its stockpile of highly accurate long-range missiles during the war, according to three people familiar with the data, raising concerns about the military's readiness for future conflicts.
Trump has yet to achieve the objectives he set out at the start of the war: dismantling Iran's nuclear programme, curbing its ability to attack regional rivals and creating conditions for Iranians to overthrow their clerical rulers.
Qatar's Foreign Ministry spokesperson Majed al-Ansari said diplomatic contacts had reached "very progressive stages."
He said mediators including Qatar, Pakistan and Oman were coordinating closely to facilitate negotiations and exchange draft proposals between Washington and Tehran.
A senior Pakistani security official said: "Our sole goal at this moment is to make both parties at least agree to start talking."
Iran has halted most traffic through Hormuz while Washington maintains a blockade of Iran-related shipping and ports.
Yemen's Iran-aligned Houthis have also imposed a naval blockade on Saudi Arabia in the Red Sea, further restricting oil export routes.
A cargo vessel reported being struck by an unidentified projectile near the Strait of Hormuz off Oman's coast, according to the UK Maritime Trade Operations security agency. Maritime sources told Reuters on Tuesday the vessel was a dry bulk ship. Its crew abandoned the vessel and one seafarer was missing.
Later on Tuesday, India's Shipping Minister Sarbananda Sonowal wrote on X that a projectile had hit and sunk an Indian vessel near Yemeni waters, with all 14 on board rescued by Yemen's coast guard.
Iran has long demanded control over Hormuz, which it says it should share with Oman on the opposite shore. But Tehran rejected an Omani proposal last week that would have allowed shared oversight and the collection of voluntary fees from ships.
A senior Iranian source said Tehran is seeking full control over inbound shipping and visibility over outbound traffic, with the ability to intervene if necessary.
Giving Iran such control would be a major shift in the regional balance of power and make it more difficult for Washington to argue that "Operation Epic Fury", which Trump launched alongside Israel in February, had weakened Washington's longstanding foe.
"Their big advantage is that they can hurt the regional states and the global economy," said Michael Knights of the Washington Institute.
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