The United States resumes airstrikes and a maritime blockade to pressure Iran... Pakistan steps up mediation efforts

[Financial News] The United States abruptly resumed a maritime blockade on Iranian ports on the 14th (local time) in response to Iran's attacks on merchant vessels in the Strait of Hormuz, AFP and other foreign media reported.
The blockade was reinstated about a month after it had been lifted under a temporary ceasefire agreement in mid-June. The fragile 60-day truce collapsed before even reaching its midpoint, fueling fears that the Middle East could once again be drawn into the vortex of full-scale war.
Earlier that day, Donald Trump announced that he would abruptly withdraw a plan to impose a 20% transit fee on ships passing through the Strait of Hormuz, just hours before the blockade was restored.
He said, "I received calls from kings, emirs, and other leaders across the Middle East. They proposed a different approach, suggesting that instead of transit fees, they would invest billions of dollars in the United States. I do not think anyone should be collecting tolls in the Strait of Hormuz, so I decided to accept this alternative investment rather than impose the fee."
It is still unclear whether those investment pledges represent entirely new agreements or are separate from the existing investment plans Trump secured during his Middle East tour last year.
Before resuming the maritime blockade, CENTCOM carried out large-scale airstrikes targeting multiple military bases inside Iran. A U.S. military official, speaking on condition of anonymity, said the operation struck Iran's coastal defense systems, missile and drone bases, and naval facilities.
The U.S. military said, "We will continue airstrikes to neutralize Iran's ability to target civilian merchant ships and innocent civilians."
Iran retaliated by attacking three oil tankers that were passing through Bahrain, the State of Kuwait, the territory of The Hashemite Kingdom of Jordan, and the Strait of Hormuz.
Just hours after the U.S. air campaign ended, a series of explosions were reported in Bushehr, Ahvaz, Bandar Abbas, and other areas along Iran's southern coast of the Persian Gulf. That has raised the possibility that Arab states in the Persian Gulf region carried out retaliatory strikes on Iran without making any official announcement.
As the clashes unfolded, Brent crude oil briefly surged past $87 per barrel before turning volatile. After news emerged that Trump had withdrawn the plan to impose transit fees, oil prices eased somewhat and settled around $78 per barrel.
Meanwhile, foreign media reported that behind-the-scenes diplomacy is under way at a critical moment to prevent a catastrophic escalation.
According to sources, a Pakistan-led mediation team is working around the clock to bring the United States and Iran back to the negotiating table and revive the temporary ceasefire.
Separately, U.S.-mediated talks between Israeli and Lebanese delegations are continuing in Rome, Italy. Hezbollah, Iran's ally, entered the war by attacking Israel shortly after the conflict broke out in February, and Israel has responded by invading southern Lebanon.
Last month, the two sides announced a "framework agreement" centered on the withdrawal of Israeli forces and the disarmament of Hezbollah, but practical implementation has been suspended.
jjyoon@fnnews.com Yoon Jae-joon Reporter