June 21, 2025 | Geneva / Washington / Istanbul / Tel Aviv / Tehran — A week into the full-scale military confrontation between Israel and Iran, the conflict has begun to draw in major global powers, as Turkish President Recep Tayyip Erdogan accused Israel of sabotaging nuclear diplomacy, and U.S. President Donald Trump issued an ultimatum to Tehran: stand down within two weeks or face American airstrikes.

The Organisation of Islamic Cooperation (OIC) convened an emergency session in Istanbul on Saturday, with President Erdogan opening the meeting by strongly criticizing Israel’s expanding military operations and its impact on fragile peace efforts.

“Israel is deliberately undermining the negotiations between the United States and Iran,” Erdogan declared. “It wants war, not peace. And it fears diplomacy more than any weapon.”

🛑 A Week of War and Diplomatic Breakdown

The seventh day of the Israel-Iran war, which erupted following a series of escalatory incidents near the Strait of Hormuz, saw another exchange of missile strikes, deepening fears of a regional war spiraling into a global crisis.

In parallel with the military developments, a rare diplomatic effort unfolded in Geneva, where senior European diplomats met with Iranian Foreign Minister Abbas Araghchi for four hours of intensive discussions.

However, the talks ended without resolution, with European officials expressing concern that time for diplomacy was “rapidly running out.”

“We will consider diplomacy again only when Israel ends its aggression,” Araghchi stated after the talks, underlining Tehran’s red line.

🇺🇸 Trump’s Two-Week Ultimatum to Iran

In Washington, President Trump said the United States would delay a decision to join Israel’s air campaign for two weeks to allow room for diplomacy.

“Iran has a maximum of two weeks to decide if it wants peace or consequences,” Trump warned. “We are fully prepared to take out their Fordo facility and more if necessary.”

Fordo, Iran’s deeply buried uranium enrichment site, is widely seen as the cornerstone of its nuclear program. It is believed to be beyond the reach of conventional weapons but vulnerable to U.S. “bunker-buster” bombs.

White House officials said target packages are ready, and coordination with Israel is underway “should the order be given.”

“This delay isn’t a sign of weakness,” said U.S. Secretary of State Marco Rubio. “It’s a final window for peace.”

💥 Netanyahu’s Defiance: ‘As Long As It Takes’

Israeli Prime Minister Benjamin Netanyahu remained unyielding, vowing that the military campaign in Iran would continue indefinitely.

“We will act for as long as it takes to eliminate the threat posed by Iran’s nuclear weapons program and its arsenal of ballistic missiles,” he said in a televised address Friday night.

Israeli jets have reportedly struck nuclear infrastructure, missile depots, and IRGC command centers in Isfahan, Natanz, and Shiraz.

Recent satellite images show widespread structural damage to at least three known nuclear sites, prompting fears that Iran may retaliate by accelerating its nuclear breakout timeline or expanding regional strikes.

🛰️ Global Alarm, Calls for De-escalation

The Geneva talks were spearheaded by foreign ministers from Germany, France, and the UK, hoping to restart a nuclear dialogue framework similar to the 2015 JCPOA, which Trump exited in 2018.

But European diplomats privately admitted that without U.S. and Israeli alignment, any standalone diplomatic effort would likely fail.

Meanwhile, the UN Secretary-General Antonio Guterres has called for an immediate ceasefire, warning that “the shadow of nuclear confrontation has once again returned to the Middle East.”

“A full-scale war between Israel and Iran could engulf the entire region, including Iraq, Lebanon, Syria, and the Gulf,” said a senior UN official.

🇮🇷 Iran Holds Firm, Issues Its Own Warning

Tehran has vowed to retaliate if its strategic assets are attacked again. Iran's elite Islamic Revolutionary Guard Corps (IRGC) has already launched retaliatory missile barrages into the Israeli Negev desert and claimed to have intercepted an Israeli drone near Qom.

In a press conference, Iranian Defense Minister General Mohammad-Reza Ashtiani warned:

“If America joins this war, we will consider all U.S. bases in the region as legitimate targets.”

Iran’s Supreme Leader Ayatollah Khamenei also weighed in during Friday prayers, saying,

“Iran is not the one who started this war, but we will be the ones to end it—with dignity and force.”

🕌 Islamic World Reacts

The OIC meeting in Istanbul, led by Erdogan, condemned Israeli actions as “reckless and destabilizing.” Delegates from Indonesia, Qatar, Malaysia, and Algeria urged the U.S. not to get militarily involved and instead act as a mediator.

Saudi Arabia, which has largely remained silent, sent a lower-level delegation, raising questions about its position amid the ongoing normalization talks with Israel.

“The Islamic world cannot be silent spectators to nuclear brinkmanship,” said Egypt’s Foreign Minister Sameh Shoukry.

📉 Economic Fallout and Energy Shock

With the Hormuz corridor under threat, global crude oil prices have jumped 11%, with Brent trading near $103 per barrel as of Friday evening. Insurance premiums for tankers passing through the Gulf have skyrocketed, and markets across Asia and Europe tumbled on fears of prolonged instability.

The World Bank and IMF issued joint warnings about the possibility of a global recession if the conflict continues unchecked.

🧭 What Happens Next?

Key Upcoming Events to Watch:

• Monday, June 23: Iran expected to make a formal response to Geneva proposals.

• Tuesday, June 24: U.S. Congress scheduled to vote on a resolution authorizing limited force against Iran.

• June 25: OIC plans to present a unified peace proposal at the United Nations.

Trump’s “two-week window” appears to be the last diplomatic lifeline before the U.S. potentially launches direct military strikes, which analysts warn could lead to a prolonged regional war.

🔚 Conclusion: High Stakes, Narrow Paths

As the Israel-Iran war drags into its second week, the world stands on a knife-edge. With both military aggression and diplomatic fatigue rising, the next fortnight may determine whether this conflict is contained—or explodes into a full-scale international war.

While Trump’s threat may be calibrated to buy time, Netanyahu’s defiance and Iran’s resolve suggest that the margin for peaceful resolution is fast shrinking.

As one European diplomat put it bluntly:

The Upcoming IPOs in this week and coming weeks are Supertech EV, Valencia India, Neetu Yoshi, Abram Food, PRO FX Tech, Suntech Infra Solutions, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Ace Alpha Tech, Globe Civil Projects, Sambhav Steel Tubes, Ellenbarrie Indutrial Gases, Kalpataru, HDB Financials, AJC Jewel.

The Current active IPO are  Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Mayasheel Ventures.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.