Paul Wallace

The U.K.

is leading or convening a group of foreign ministers today.

It will be a virtual meeting, 35 countries, mostly Europeans, but it will include the likes of Japan and Canada and the UAE.

And they're going to sort of bash heads together and talk about how to reopen Hormuz, telling me the US is not involved with that.

So I think there really is a sense that the US does not know how to reopen Hormuz.

It's kind of run out of ideas and doesn't really want that possibility.

problem hanging over it.

It's undeniable that there are huge risks and huge complications for the U.S.

if Trump decides to strike Iran, you know.

A limited strike, a strike that, you know, is not aimed at, say, regime change and perhaps only lasts a night or two nights or something, is very different to an extended campaign over a month or something that is looking at regime change.

There are a huge number of doubts, even with the U.S., that regime is possible with an air and naval campaign alone.

A lot of people just say it can't be done.

Bloomberg's Paul Wallace reporting from Dubai.

The two sides met in Geneva last week, Tuesday.

The conclusion to that was that Iran would give written proposals to the U.S., the U.S.

would look at them, and then if they were satisfied, say, OK, let's go to the third round of talks.

But if they do happen on Thursday, I think that's a pretty good sign for those who want diplomacy to work and want to avert strikes.

A lot of questions.

Even if the U.S.

does strike with or without Israel, you know, how it goes about that, what exactly its intentions are matter a lot.