Iran has asked Qatar, Saudi Arabia, and Oman to urge U.S. President Donald Trump to influence Israel to agree to an immediate ceasefire, according to Reuters reports on Monday. In exchange, Tehran is offering flexibility in nuclear negotiations.
Meanwhile, the Wall Street Journal reported that Iranian officials have communicated to Arab leaders their willingness to return to negotiations, provided the United States does not join Israel’s military campaign. Tehran has also sent messages to Israel suggesting that both nations would benefit from containing the violence.
U.S. stocks are reacting positively to the news, with the Dow extending gains to 1.1% and the S&P 500 up 1.2% as of 10:40 AM ET. The tech-heavy NASDAQ is up 1.5%.
Israel has established air superiority over Tehran, giving Israeli leaders little motivation to halt operations before further damaging Iran’s nuclear facilities and weakening the government’s control. Israeli strikes have eliminated key military leadership, including most of Iran’s top air force commanders.
Israeli Prime Minister Benjamin Netanyahu has declared that attacks will continue until Iran’s nuclear program and ballistic missile capabilities are destroyed. Netanyahu has shown no signs of readiness to stop the military campaign.