Qatar Offers New Iran Deal Proposal to Avert Escalation

The proposed agreement outlines a seven-day timeline for daily confidence-building steps to be implemented by both sides, potentially starting early next week. Several countries are expected to act as guarantors for the deal. The conflict, which began in February, has disrupted global shipping and oil supplies, and a previous temporary peace agreement reached in June quickly collapsed.

The negotiations are taking place against a backdrop of potential escalation. Concerns existed that Israeli Prime Minister Benjamin Netanyahu might resume attacks on Iran, particularly during his re-election campaign, while US President Donald Trump has also threatened to resume strikes. According to The Wall Street Journal, the United States has warned several Gulf states to prepare for a potential short but intense military offensive after the US midterm elections on November 3. In response, Iranian security officials have reportedly prepared plans to target undersea communication cables in the Gulf if attacked.

Meanwhile, the financial toll of the conflict continues to rise. Pentagon data presented to Congress reveals that the United States has spent over $29 billion on ammunition alone, with the total US cost of the war reaching $47.1 billion.