Iran says it will not continue peace talks after US seizes Iranian cargo ship

On Sunday, April 19, the United States said it had seized an Iranian-flagged cargo ship attempting to breach the blockade of American forces off Iran’s ports. Iran said it would retaliate, raising the risk that the ceasefire which expires in two days could unravel. According to Reuters, efforts to reach a stable peace in the Middle East faltered as Iran announced it would not participate in the second peace talks that the United States had hoped to start before the two-week ceasefire between Washington and Tehran expired on Tuesday, April 21. The stalemate had persisted for weeks at the Hormuz Strait, a primary reason for recent spikes in global oil prices, and could continue. At the end of the weekend, the US still blockaded Iran’s ports, while Iran had opened and then closed the Hormuz Strait. U.S. forces said they fired on an Iranian-flagged cargo ship as it moved toward Bandar Abbas. 'We seized the vessel and are inspecting what is on board,' President Donald Trump wrote on Truth Social. Iran’s military said the ship had originated from China before being attacked and seized by U.S. forces. 'We warn that Iran’s armed forces will soon retaliate against this action,' state media quoted a military spokesperson. Iranian state media also said Tehran refused to continue peace talks with the US, citing continued port blockades, ongoing threats, a changing stance, and 'unreasonable demands.' 'A country cannot block Iran’s oil exports while seeking free security for others. The choice here is clear: either free-market oil for all, or higher prices for all,' wrote Iran’s First Vice President Mohammadreza Aref on social media. Earlier on the same Sunday, Trump again warned that he would blow up every power plant and bridge in Iran if its leaders do not accept an agreement with the US. He called Iran’s weekend attacks on ships 'a complete violation' of the ceasefire. Amid rising tensions, Trump said a US delegation would travel to Islamabad, Pakistan on Monday to conduct the second round of talks. Pakistan — a mediator in peace talks between the US and Iran — appears to be handling logistics for negotiations, Reuters said. The developments pushed crude oil prices higher again after a week of declines on hopes that both sides would soon reach a peace agreement. By around 7:00 a.m. Vietnam time on April 20, U.S. WTI futures rose more than 8% from last week’s close, trading near $91 per barrel. Brent crude rose more than 7% to around $97 per barrel. Tasnim News Agency reported that two LPG carriers attempting to pass the Hormuz Strait on Saturday were ordered back by Iran. MarineTraffic data showed one of the ships, the G Summer, flagged by Angola, later tried again and successfully passed through Hormuz.