Global News Podcast Iran ridicules - then rejects - US peace plan
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Mar 25, 2026 
Sebastian Usher, a BBC Middle East analyst, unpacks the reported US peace proposal to Iran and Tehran’s sharp rejection. The conversation tracks oil shock fears, the Philippines hunting for sanctioned supplies, and recession warnings from BlackRock. It also turns to Jeffrey Epstein survivors seeking accountability, Dutch schools testing phone bans, and a heroic koala rescue dog heading into retirement.
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Why Iran Rejected The Reported US Peace Plan
- The reported US peace plan demanded Iran dismantle nuclear capabilities, stop enrichment, surrender enriched uranium, curb proxies, and keep Hormuz open in exchange for sanctions relief.
- Sebastian Usher says Tehran may reject it not only on substance but because surviving leadership losses lets Iran claim resilience and negotiate from a position it sees as strength.
Why Southeast Asia Feels The Oil Shock Fastest
- The war's disruption of the Strait of Hormuz is hitting Asian importers hardest because much of the oil moving through it goes to the region.
- In the Philippines, officials declared an energy emergency, sought fuel from sanctioned states including Russia, and residents described diesel, cooking gas, and food costs surging.
Larry Fink Sees Only Two Oil Futures
- BlackRock's Larry Fink sees no middle ground for oil prices if the war's aftermath stays unresolved.
- He says reintegrated Iranian and Venezuelan supply could push oil to $40, but a lingering Iranian threat to Hormuz could keep prices near $150 and trigger global recession.