Pakistan's top diplomat is in Washington for a critical meeting aimed at finalizing a US-Iran deal.
This meeting is the culmination of months of high-stakes diplomacy. The story begins in February 2026, when a conflict involving the US and Iran led to the effective closure of the Strait of Hormuz, a vital channel for global oil supply. This disruption immediately sent shockwaves through the global economy, setting the stage for urgent diplomatic intervention.
The primary catalyst for these talks was the intense economic pain. First, oil prices became extremely volatile. Brent crude, a global benchmark, soared to about $126 per barrel at the end of April, fueling worldwide inflation fears. Then, just a week later, it dropped nearly 20% on mere rumors of a ceasefire. This price whiplash demonstrated how desperately markets craved stability and created immense pressure on policymakers to find a solution.
This is where Pakistan stepped in. Leveraging its strategic position, Islamabad began mediating between Washington and Tehran. The effort gained serious momentum in April when Pakistan hosted the first direct, high-level talks between the US and Iran since 1979. This established Pakistan as the key intermediary, paving the way for this final diplomatic push in Washington.
Furthermore, the structure of the US foreign policy team makes this meeting particularly significant. Secretary of State Marco Rubio also serves as the acting National Security Advisor, which centralizes decision-making. His key aide was also recently promoted, further tightening control over the negotiations. This means the meeting with Foreign Minister Ishaq Dar isn't just a symbolic chat; it's an operational session designed to iron out the final, practical details of a framework agreement.
In essence, Dar's visit represents the "last mile" of a complex diplomatic marathon. The goal is to lock in a deal that can reopen the Strait of Hormuz, calm volatile energy markets, and ease the inflationary pressure that has been weighing on the global economy.
- Strait of Hormuz: A narrow, strategically important waterway between the Persian Gulf and the Gulf of Oman, through which a significant portion of the world's oil supply passes.
- Brent crude: A major international benchmark price for crude oil, used to price two-thirds of the world's internationally traded crude oil supplies.
- Risk Premium: The additional return an investor expects to receive for holding a risky asset over a risk-free one. In geopolitics, it refers to higher prices (e.g., for oil) due to instability or conflict.