Some Gulf and European leaders reportedly fear that it could take six months or more to negotiate a US-Iran peace deal, amid calls to urgently reopen the Strait of Hormuz to avoid severe food and energy supply shocks globally.

Several leaders have urged an extended ceasefire between Washington and Tehran, according to Bloomberg, pressing for a deal that would ban Iran from enriching uranium or building long-range missiles.

US President Donald Trump said Tehran had agreed to hand over its “nuclear dust,” enriched uranium, but Iran has not confirmed the concession. There are some positive signs: A ceasefire took effect between Israel and Lebanon, bolstering truce talks between the US and Iran that could happen as early as this weekend.