Iraq on Friday proposed forming a committee of regional foreign ministers to visit Tehran and Washington in an effort to resolve the US-Iran dispute peacefully and strengthen regional stability, according to a statement by Iraq's foreign ministry reported by Shafaq News and Kurdistan24.

Source: Shafaq News via Hathalyoum

The proposal came in a phone call between Iraqi Foreign Minister Fuad Hussein and his Iranian counterpart Abbas Araghchi. Hussein warned of rising regional tensions and the possibility of renewed military operations, and called for practical steps to prevent further escalation, the statement said.

Araghchi, for his part, outlined Tehran's proposals for resuming negotiations with Washington, which Iran had presented before the US midterm elections. The Iranian proposal includes setting a timetable for launching negotiations, reopening the Strait of Hormuz, revisiting the understandings reached in Pakistan, and additional provisions concerning Iran's nuclear programme.

Source: Iraq foreign ministry statement via GeoXAxis / TRT World live

Why Baghdad is stepping in

Iraq sits between the two sides of this war and has worked to keep the fighting, which began with US and Israeli strikes on Iran on February 28, from spilling onto its own territory or shutting down the Gulf oil routes its economy depends on. Baghdad is talking to both capitals: on Thursday, Iraqi Prime Minister Ali Falih al-Zaidi spoke directly with US President Donald Trump.

Baghdad's message to Washington a day earlier was that Iraq will not serve as a launchpad for attacks on its neighbours. Read: Iraq will not be a launchpad, PM told Trump

The mediation push comes at a delicate moment. Trump has said he will decide soon whether to resume military action against Iran now that the midterm elections are over, while also saying talks with Iran are continuing — two tracks that regional capitals are trying to steer toward a settlement before fighting resumes.

For the lakhs of Indian and Punjabi workers across the Gulf, the stakes in these talks are direct: a return to open fighting would again threaten shipping through Hormuz, oil prices, flights and jobs across the region, while a reopened strait and a talks timetable would ease the pressure that has hung over Gulf economies since February.

Both ministers emphasised continued coordination among regional countries to ease tensions and promote stability, the Iraqi statement said. No date has been announced for the proposed committee's travel, and neither Washington nor Tehran has publicly confirmed whether it will take part.