SINGAPORE PERSPECTIVE

Singapore, May 24, 2026. Singapore's media outlets carefully parse the contradictions of a dense diplomatic day. In the morning, signals were encouraging: Secretary of State Marco Rubio, visiting New Delhi, told journalists there "may be a possibility that within the next few hours the world receives good news." Donald Trump posted on Truth Social that the deal had been "largely negotiated," contingent on finalization between the United States, the Islamic Republic of Iran, and "the various other countries" involved.

But the tone shifted during the day. Trump reversed course in a second message, clarifying that he had "instructed his representatives not to rush into a deal" because "time is on our side." The American blockade on Iranian vessels in the Strait of Hormuz, he insisted, "will remain in full force until a deal is concluded, certified, and signed." A phrasing that the Straits Times reports without ambiguity: "Both sides must take time to do things right."

For Singapore, a logistics and financial hub whose prosperity rests on the fluidity of maritime routes, these words resonate differently than in Washington or Tehran. Before the conflict, the Strait of Hormuz ensured the transit of one-fifth of the world's oil and liquefied natural gas shipments. Its effective closure since hostilities began on February 28, 2026, has weighed heavily on regional supply chains and gasoline prices across Southeast Asia.

Friction points remain numerous. Tasnim, an agency close to Iran's Revolutionary Guards, signals that Washington continues to block entire sections of a potential agreement, notably Tehran's demand for the release of frozen funds. Other contentious issues—Iranian nuclear ambitions, the Israel-Hezbollah war in Lebanon, sanctions relief—remain open. Channel News Asia relays Israel's position: Benjamin Netanyahu made clear that Trump and he agreed on demanding the dismantling of Iranian nuclear enrichment facilities and the removal of all enriched uranium from the territory, a sine qua non condition for a final agreement.

Local press notes that this crisis began following American-Israeli strikes on February 28, to which Tehran responded with missile and drone attacks throughout the region. Hezbollah then struck Israel on March 2, following the death of Iran's supreme leader in those strikes. A ceasefire has been in effect since April 8, but the American maritime blockade and Iranian restrictions on Gulf navigation maintain economic pressure on both sides—and on their Asian trading partners.