Update: Iran sets sweeping ceasefire terms, demands major U.S. and Israeli concessions

Iran has reportedly outlined initial ceasefire conditions, calling for the closure of all U.S. military bases in the Gulf and an immediate halt to Israeli strikes on Hezbollah in Lebanon.

Tehran has firmly rejected any negotiations over its missile program, while also demanding full sanctions relief, war compensation, and new control measures over transit in the Strait of Hormuz.

U.S. officials have dismissed the proposal as unrealistic, raising doubts over any near-term diplomatic breakthrough.

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