[The Financial News] Reports have emerged that the Islamic Republic of Iran has firmly rejected a proposal from the United States of America (US) for a 48-hour temporary ceasefire. On the 3rd local time, Fars News Agency, the official news outlet of the Islamic Republic of Iran, reported that the country made its rejection clear not through a written response but by launching a large-scale military attack. Citing a source familiar with the matter, the agency reported that the US had proposed a 48-hour truce on the 1st through one of its allied countries. The source analyzed, "It appears that the United States of America (US) made this proposal after underestimating the military capabilities of the Islamic Republic of Iran, which led to an escalation of the regional crisis and placed the United States military in serious difficulty." The agency also reported that, following an attack on a United States military logistics warehouse on Bubiyan Island in Kuwait, Washington’s diplomatic efforts to defuse the situation have become increasingly urgent. The source added, "The response from the Islamic Republic of Iran is the large-scale offensive currently underway on the ground," and stated that this move "reaffirms its determination not to ease military pressure." stand@fnnews.com Seo Ji-yoon Reporter