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Islamabad, Pakistan – Iranian Foreign Minister Abbas Araghchi has discussed with regional interlocutors a proposal aimed at reopening the Strait of Hormuz but deferring talks with the US on Tehran’s nuclear programme for later, during a 72-hour diplomatic sprint across three countries seemingly aimed at securing a broader buy-in for the plan.

Araghchi on Monday met with Russian President Vladimir Putin in St Petersburg, after visiting Islamabad twice in two days – the two trips sandwiching a meeting in Muscat, Oman. Sources close to these diplomatic efforts told Al Jazeera that senior intelligence officials from several countries were present at the Muscat talks.

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Discussions in Muscat focused on the Strait of Hormuz, regional security guarantees, and the framework for a potential settlement, with nuclear-related issues set aside for a later stage.

Iran officially submitted its latest proposal to end the war with the US to Pakistan, which is transmitting messages between Tehran and Washington after direct talks on April 11 in Islamabad failed to deliver a breakthrough.

The White House has not confirmed the contents of the Iranian proposal, also reported by the Associated Press. Spokeswoman Olivia Wales said the US “will not negotiate through the press” and would “only make a deal that puts the American people first, never allowing Iran to have a nuclear weapon”.

But it is unclear whether US President Donald Trump will accept the Iranian proposal to push back nuclear negotiations. Speaking to Fox News on Sunday, Trump said Iran already knew what was required.

“They cannot have a nuclear weapon. Otherwise, there’s no reason to meet,” he said, adding that Tehran was welcome to reach out. “You know there is a telephone. We have nice, secure lines.”

The latest diplomatic efforts are unfolding against a ticking clock.

Under the 1973 War Powers Resolution, Trump faces a May 1 deadline to obtain congressional authorisation to continue military operations against Iran, now in their ninth week. A fourth bipartisan Senate bid to invoke the resolution was defeated 52-47 on April 15. Republican lawmakers have largely backed Trump so far, but several have said that support will not extend beyond the 60-day window without formal congressional approval.

Pakistan at the centre

During the first of his two visits to Islamabad, Araghchi on Monday met Pakistan’s Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Army Chief Field Marshal Asim Munir.

He then travelled to Muscat, and returned to Pakistan on Sunday, meeting Munir again before departing for Moscow.

Araghchi said in a message on social media after his departure that Pakistan had “played an important role in mediating negotiations between Iran and the United States recently”, adding that “incorrect approaches and excessive demands of the United States” had prevented the previous round of talks from achieving its objectives despite “some progress”.

Senior Pakistani officials familiar with the discussions said Islamabad would continue its efforts as an honest facilitator.

Iranian state media, however, struck a firmer tone.

The Fars News Agency, close to Iran’s Islamic Revolutionary Guard Corps (IRGC), said Araghchi had relayed messages through Pakistan outlining Tehran’s red lines on nuclear issues and the Strait of Hormuz. These, it said, were “an initiative by Iran to clarify the regional situation”.

Aizaz Chaudhry, a former Pakistani foreign minister, said the conduct of the talks had been notable in itself.

“I have seen a commendable display of confidentiality. This is a disciplined and professional method to conduct these talks,” he told Al Jazeera.

A widening circle

Beyond visits to Pakistan, Oman and Russia, Araghchi held telephone calls with the foreign ministers of Qatar, Saudi Arabia, Egypt and France over the past three days.

Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani spoke directly with Araghchi, warning that sea lanes must not become “a bargaining chip or pressure tactic”.

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud was briefed on “developments related to the ceasefire”. Egypt’s Foreign Minister Badr Abdelatty spoke with both his Qatari and Iranian counterparts. France’s Jean-Noel Barrot insisted that Europe had played a “constructive role” in the crisis.

After the meeting in Muscat, Oman’s Foreign Minister Badr Albusaidi called for “practical solutions to ensure lasting freedom of navigation”.

Dania Thafer, executive director of the Gulf International Forum, said the flurry of calls pointed to cautious engagement rather than strategic realignment.

“Although Iranian leadership did not physically visit Qatar or Saudi Arabia, there were phone calls, and that indicates a willingness to maintain contact without a full diplomatic embrace,” she told Al Jazeera.

Prior to the fragile ceasefire currently in place, Iran had fired a daily barrage of missiles and drones at Saudi Arabia, Qatar and other Gulf countries, angering them. Still, Qatar, Oman and Saudi Arabia have indicated a desire to pursue diplomacy over retaliation – if Iran commits to not attacking them again.

At the same time, the closure of the Strait of Hormuz has effectively choked a bulk of their energy exports.

“Among regional players, the most emphasised topic by far is the Strait of Hormuz and maritime security,” said Thafer.

Reza Afzal, an Iranian journalist and political analyst, said the Gulf states’ posture had shifted since 2015.

“Countries that had opposed the nuclear deal [JCPOA] at the time now understand that a guaranteed agreement with Iran served their interests, particularly after Iranian military actions during the war highlighted the costs of sustained hostility,” he told Al Jazeera.

Chaudhry, the former Pakistani diplomat, said the current conversations extended beyond any single issue.

“This is not just necessarily about nuclear issues, but mainly about how this war will eventually end and what happens after that, what security architecture we can expect. These are the conversations everybody is having,” he told Al Jazeera.

Russia’s quiet presence

Iran’s ambassador to Russia, Kazem Jalali, confirmed Araghchi’s Moscow visit would cover “the latest status of negotiations, the ceasefire and surrounding developments”.

Iranian President Masoud Pezeshkian has spoken with Putin three times since the war began. Jalali described the trip in ideological terms, positioning Iran and Russia as standing in a “united front” against what he called “the world’s totalitarian forces”.

Taimur Khan, a research associate at the Institute of Strategic Studies Islamabad, said Russia brought three key assets, from Iran’s perspective: a long-standing strategic relationship with Tehran, a veto on the United Nations Security Council, and a technical role in the original nuclear deal.

“Moscow cannot guarantee US sanctions relief, nor can it substitute for direct US-Iran understandings. Its value is more as a diplomatic stabiliser, technical facilitator and geopolitical counterweight,” Khan told Al Jazeera.

Tehran-based analyst Javad Heiran-Nia said the Moscow visit also appeared to address more specific concerns alongside the broader diplomacy.

“The trip was likely linked to questions around Iran’s enriched uranium stockpiles and military cooperation between Tehran and Moscow,” the analyst said. Russia has offered to take over Iran’s enriched uranium.

The JCPOA lesson

Behind Araghchi’s outreach lies a structural lesson that analysts say Tehran has drawn from the collapse of the 2015 nuclear deal.

When Trump withdrew from the Joint Comprehensive Plan of Action (JCPOA) during his first term in 2018, Iran was left without regional backing and without a guarantor capable of holding Washington to its commitments.

Khan said Tehran had drawn lessons from that experience.

“European states, who were part of the JCPOA negotiations, also cannot be reliably depended upon in times of crisis,” he said. “FM Araghchi’s outreach appears to be part of a hedging strategy to build diplomatic insulation, reassure neighbours, and create a wider constituency against escalation.”

Jauhar Saleem, a former ambassador and president of the Institute of Regional Studies in Islamabad, said Iran’s calculation was also tactical.

“Ideally, Iran would not want a deal vulnerable to the US election cycle,” he told Al Jazeera.

Tehran, he said, appeared to be playing a longer game. “This strategy also fits well with Iran’s waiting game tactic in the face of what they perceive as US desperation for a quick exit.”

Heiran-Nia offered a contrasting historical perspective. Unlike during the original negotiations, he said, Gulf Arab states had supported diplomacy even before the 12-day war in 2025.

“Even at the time of the JCPOA’s conclusion, the Gulf Arabs, especially Saudi Arabia, had shown serious opposition,” he told Al Jazeera.

Mehran Kamrava, professor of government at Georgetown University in Qatar, said the current outreach should be seen as part of a longer trajectory of Iranian relationship-building with Gulf states in recent years.

The gaps

To be sure, Iran’s outreach only matters if the US agrees to a deal, analysts point out.

Trump cancelled a planned Islamabad visit by envoys Steve Witkoff and Jared Kushner on Saturday, saying Iran had “offered a lot, but not enough”.

He also said China could “help a lot more” on Iran. Trump is scheduled to meet President Xi Jinping in Beijing on May 14-15.

Thafer said a broader accommodation remained distant.

“What Iran is asking for goes well beyond a deal on the strait. It is asking for full regional realignment, and that is something the Gulf states are unwilling to offer, particularly after these attacks,” she told Al Jazeera.

Afzal, the journalist, said the domestic Iranian dimension on Hormuz was often underestimated. Public opinion inside Iran, he said, opposed any reopening of the strait without tangible concessions. “Tehran would continue to use the strait as leverage until Washington agreed to compromise,” he told Al Jazeera.

Several deadlines are now converging: the May 1 War Powers threshold, Trump’s China visit, and the approaching Hajj season.

With millions of pilgrims expected in Saudi Arabia in late May, Riyadh’s diplomatic and logistical bandwidth will be constrained, making any escalation during that period particularly costly for a Gulf state that is both a key interlocutor and the custodian of Islam’s holiest sites.

Senior Pakistani officials said that Islamabad remained ready to host another round of formal talks, but that substantive negotiations were likely to continue out of public view, with visible engagement reserved for when a deal is within reach.

“They [the Gulf countries] are in a tight corner and may have to walk a tightrope, both strategically and diplomatically,” Saleem told Al Jazeera.

The prime minister says the federal government will put up money alongside private investors to fund major projects.

Canadian Prime Minister Mark Carney says his government is developing a government-owned investment fund.

Carney said on Monday that the fund, a first for the country, will invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture and technology. It will begin at 25 billion Canadian dollars (US$18bn).

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The prime minister said the federal government will put up funds alongside private investors. The money will help finance major projects that Carney’s government is focused on building as Canada seeks to diversify away from the United States.

US President Donald Trump has threatened Canada’s economy and sovereignty with tariffs and claims that Canada could be “the 51st state” in the US.

Carney is a former central banker in England and Canada as well as chairman of the board of directors for Bloomberg.

“We take a lesson from other jurisdictions that had the foresight many decades ago to start sovereign wealth funds,” Carney said. “In some cases, they began with a domestic focus then outgrew the scale of the domestic focus.”

Sovereign wealth funds invest in assets, such as stocks, bonds and real estate. They are typically funded by a country’s budgetary surpluses, which Canada currently does not have. The announcement came a day before Carney’s government announces its spring economic update.

There are more than 90 sovereign wealth funds around the world. They manage more than $8 trillion in assets, according to the International Forum of Sovereign Wealth Funds, a London-based organisation made up of roughly 50 of these entities.

Trump ordered the creation of a US sovereign wealth fund last year. In the US, more than 20 sovereign wealth funds exist at the state level, according to an analysis from the Center for Global Development, a Washington, DC-based nonpartisan think tank.