The 14-day ceasefire expires at 04:50 local time April 22. Iran's parliament advisor calls Trump's extension a ploy for a surprise attack. Treasury Secretary Bessent says Kharg Island oil storage is nearly full and wells will shut down. Vance confirmed he will not travel to Pakistan today.
Trump extended the ceasefire on Pakistan's request but told CNBC he expects to resume bombing. No Iranian delegation arrived in Islamabad. Vance postponed his trip. US seized a Chinese cargo ship heading to Iran. Iran threatened to destroy the entire regional oil industry.
Iran has completely suspended petrochemical exports after Israeli airstrikes damaged key production facilities and the US naval blockade prevented shipments from leaving Iranian ports. Annual export revenue of $13-15 billion is now effectively frozen.