Major developments we’re following:
- Pakistan’s army chief is set to meet with Iranian officials in Tehran on Thursday in a bid to extend the ceasefire which paused almost seven weeks of war between Israel, the U.S. and Iran that have killed thousands of people and upended global markets by disrupting the flow of oil. Uncertainty remains whether the frantic diplomacy can lead to a deal.
- The meeting comes as President Donald Trump announced the leaders of Israel and Lebanon will speak later on Thursday about halting the fighting between them. If it takes place, the conversation would be the first time the leaders of the two countries have spoken directly in more than 30 years. Both Israeli and Lebanese governments refused to confirm a conversation.
- U.S. Treasury Secretary Scott Bessent warned on Wednesday that the U.S. is preparing to ramp up economic pain on Iran by levying secondary sanctions on financial institutions that do business with the Middle Eastern nation. Bessent called the measure the “financial equivalent” of a bombing campaign.