The White House denied that the United States requested an extension of the ceasefire with Iran. The next round of talks is likely to take place in Pakistan, with Pakistan acting as a mediator. The US is also continuing its naval blockade of Iranian ports to limit China's oil imports from Iran and is considering secondary sanctions for Chinese banks involved in monetary transactions with Iran.
The US is preparing to ramp up economic pressure on Iran by levying secondary sanctions on financial institutions, which is expected to have an effect similar to a bombing campaign. The Treasury Department has sent a letter to financial institutions in China, Hong Kong, the UAE, and Oman, threatening to levy secondary sanctions for doing business with Iran. This strategy will be used by President Trump to pressure Iran to accept US proposals to limit its nuclear ambitions.
The Biden administration denied requests for an extension of the ceasefire with Iran, with in-person negotiations likely to continue in Pakistan. The U.S. is pressuring Iran to freeze Revolutionary Guard Corps assets and is attempting to curb China's Iranian oil purchases. Iran uses neighboring countries' financial systems to evade sanctions, prompting the U.S. to launch an ‘Operation Economic Fury’.