Pakistan PM Requests Two-Week Extension to Trump's Midnight Ultimatum for Iran

Pakistan Prime Minister Shehbaz Sharif requested a two-week extension to U.S. President Donald Trump's deadline for Iran to end its blockade of the Strait of Hormuz, hours before the ultimatum was set to expire at 8:00 PM EDT on April 7, 2026. Sharif posted his appeal on X, calling on Trump to grant the extension and simultaneously urging Iran to open the strait for a corresponding two-week period as a goodwill gesture. The White House confirmed Trump had been briefed on the proposal and that a response would come, with press secretary Karoline Leavitt issuing a brief statement to that effect. A senior Iranian official told Reuters that Tehran was considering the Pakistani proposal favorably. The mediation attempt came as Trump issued some of his most severe public warnings yet, writing on Truth Social that "a whole civilization will die tonight, never to be brought back again."

„To allow diplomacy to run its course, I earnestly request President Trump to extend the deadline for two weeks. Pakistan, in all sincerity, requests the Iranian brothers to open Strait of Hormuz for a corresponding period of two weeks as a goodwill gesture.” — Shehbaz Sharif via Reuters

„The President has been made aware of the proposal, and a response will come.” — Karoline Leavitt via Reuters

Trump threatens to erase bridges and power plants Trump's ultimatum demanded that Iran end its blockade of Gulf oil or face the destruction of every bridge and power plant in the country, with the deadline set for 8:00 PM EDT in Washington, equivalent to 3:30 AM in Tehran. On Truth Social, Trump wrote that "a whole civilization will die tonight, never to be brought back again," while also leaving open the possibility of a diplomatic resolution, adding that "maybe something revolutionarily wonderful can happen." Iran's First Vice President Mohammad Reza Aref rejected the threats, stating according to the Wall Street Journal that a civilization that had survived millennia would not be shaken by what he called Trump's rhetoric. Iran's UN Security Council ambassador Amir-Saeid Iravani described Trump's words before the council as "incitement to war crimes and potentially genocide," according to the Associated Press. Iran also broke off all direct communication channels with the United States on Tuesday, according to reporting by the Wall Street Journal and the New York Times, with diplomats explaining Tehran wanted to signal protest and readiness to resist. Indirect talks through mediators initially continued, though the New York Times reported Tehran informed Pakistan it would no longer participate in ceasefire talks for the time being. According to Stern.de, Trump had originally issued his ultimatum as early as March 21 before extending it several times, and had also demanded Iran commit to abandoning its nuclear program alongside reopening the strait.

The U.S.-Israel military campaign against Iran, known as Operation Epic Fury, began on February 28, 2026, with strikes that killed Supreme Leader Ali Khamenei. His son Mojtaba Khamenei was subsequently appointed Supreme Leader in March 2026. Pakistan emerged as the primary intermediary between Washington and Tehran in the weeks following the outbreak of hostilities, shuttling proposals between the two sides. According to Stern.de, Pakistan had earlier floated a 45-day ceasefire proposal, which Trump described as an "important step" but insufficient. Talks between the U.S. and Iran were reported by Reuters to be at risk of derailment following Iranian attacks on Saudi Arabian industrial facilities.

U.S. strikes hit Kharg Island oil terminal as talks proceed U.S. forces reportedly attacked dozens of Iranian military targets on Kharg Island in the Persian Gulf, a major loading center for Iranian crude oil, according to multiple media reports cited by N-tv and SRF News. Iran had previously reported explosions in the area before the U.S. attack reports emerged. The strikes on the island initially pushed oil prices higher before they turned slightly negative in late trading following Pakistan's diplomatic push, according to N-tv. The intelligence service of Iran's Islamic Revolutionary Guard Corps separately threatened attacks on the two Israeli natural gas fields Karish and Tanin, according to SRF News. Sources told Reuters on Tuesday that U.S.-Iran talks had been at risk of being derailed by Tehran's earlier attacks on Saudi Arabian industrial facilities, underscoring the fragility of the diplomatic track even as Pakistan pressed forward with its mediation.

Wall Street climbs back from lows on ceasefire hopes Financial markets in the United States showed signs of recovery after news of Pakistan's mediation proposal broke, with the broader market managing to move into positive territory after earlier declines tied to anxiety over the expiring deadline. The Dow Jones index fell 0.2 percent to 46,584 points, while the S&P 500 and Nasdaq Composite each rose 0.1 percent, according to N-tv. Market strategist Paul Hickey of Bespoke Investment had warned earlier in the session that it would be difficult for investors to take larger risks before the 8:00 PM deadline expired.

„Unless there is progress on a diplomatic level, it will be difficult for investors to take larger risks before the expiration of the President's 8:00 PM deadline to Iran to either reopen the Strait of Hormuz or face the wrath of the US military.” — Paul Hickey via N-tv

Oil prices, which had initially risen on reports of the Kharg Island strikes, turned slightly negative following the Pakistani diplomatic initiative, with a barrel of WTI crude depreciating 0.6 percent, according to N-tv. The dollar index fell 0.3 percent as the safe-haven appeal of the currency softened on news of the mediation attempt, while gold rose 1.3 percent per troy ounce. The ten-year yield on U.S. Treasury bonds fell two basis points to 4.31 percent in parallel with the decline in oil prices.

4.31 (percent) — Ten-year U.S. Treasury yield as deadline approached

Dow Jones: -0.2, S&P 500: +0.1, Nasdaq Composite: +0.1