U.S. President Donald Trump announced on Wednesday that he will extend the ceasefire with Iran, citing a request from Pakistan. However, the status of peace talks remains unclear as Washington continues its naval blockade of Iranian ports.

The decision marks the second time in two weeks that Trump has backed off from threats to escalate the conflict. The move comes after a frantic day of diplomacy, with the U.S. president buying more time for negotiations.

“The ceasefire will be extended at Pakistan’s request,” Trump stated, adding that the United States will maintain its blockade of Iranian ports until a deal is reached. The blockade has significantly impacted Iran’s economy, with mass redundancies reported across manufacturing, retail, and digital sectors.

Iran has yet to confirm its participation in renewed peace talks. The uncertainty has kept global markets on edge, with oil prices experiencing wild swings since the conflict began in late February.

International observers are watching closely as the situation develops, with hopes that the extended ceasefire will provide a window for meaningful diplomatic progress.