Iran has said it has replied to a US peace proposal, on a day when a month-old ceasefire showed signs of fraying, with drone strikes reported around the region. Iranian state media reported that the Iranian response had been passed to Pakistani mediators, without giving further details. The announcement came a week after the US presented a peace proposal , which was reported to consist of a one-page 14-point memorandum of understanding that would reopen the strait of Hormuz while setting a framework for further talks on Iran’s nuclear programme. The memorandum was itself a response to an earlier Iranian proposal. That also envisaged the lifting of parallel US and Iranian blockades on the strait, which have been driving up oil prices and stifling the global economy, with an emphasis on the lifting of sanctions and the release of frozen Iranian assets.…