Iran condemned the US threats of war and sanctions against Oman over its alleged cooperation with Iran, calling it yet another sign of the “moral bankruptcy” of the US government and its policy making.

Apart from dealing with issues related to bilateral concerns, such as energy trade, Rubio was in New Delhi to attend the Quad (an alliance of Australia, Japan, India, and US) foreign ministers’ meeting on Tuesday.

Iran hinted on Monday that progress has been made in the talks with the US on a 14-point proposal submitted by it last week, which may end the war and establish confidence-building measures.

China reiterated its red lines about US involvements in Taiwan, clearly warning that any “mishandling” would destabilize US-China relations and may even lead to conflicts.

The move came after the Gulf country joined the US in proposing a UN Security Council resolution on the situation of the Strait of Hormuz.

The failure of peace efforts so far has caused fresh spikes in the price of oil and increased speculations of wider long-term impacts on the global economy, with more countries seeking alternatives.

During his visit to Panama, Herzog and Panamanian President Mulino announced the strengthening of the Free Trade Agreement and a commitment to work more closely together on cybersecurity, agriculture, and technology.

During the Iranian foreign minister’s visit to Beijing, China reiterated the need for a comprehensive ceasefire in the region after calling the US-Israeli war on Iran “illegitimate”.

Iran has also dismissed reports about the temporary suspension of its nuclear activities being one of the proposals for peace submitted to the US last week.

However it also maintains its position that no talks would be held with the US until it lifts its illegal naval blockade, imposed since April 13.

US President Trump unilaterally announced an indefinite extension in the two-week-long temporary ceasefire with Iran just before it expired on Tuesday.

India is highly dependent on imported oil and gas coming mostly from the West Asia region which has been severely affected due to the US-Israeli war on Iran and the blockade of the Strait of Hormuz.