Traffic through Hormuz halted with blockades in place

(Bloomberg) — Traffic through the Strait of Hormuz has remained at a near-complete halt, with neither Iran nor the US showing any sign of easing their blockades of maritime traffic. Peace talks between the two sides stalled again after US President Donald Trump canceled a planned trip by his top envoys to Islamabad in Pakistan, saying that Iran had “offered a lot, but not enough.” Iran’s President Masoud Pezeshkian said his nation won’t enter “imposed negotiations under threats or blockade,” adding that trust won’t be rebuilt “without ending hostile actions.” As of Sunday morning, observable traffic leaving the Persian Gulf…