A possible agreement to reopen the Strait of Hormuz, which is crucial to the global economy, was complicated on Saturday when Iran imposed preconditions for its reopening, including payment for war losses. Since the United States and Israel attacked Iran in late February, Tehran has effectively blocked the strait. It wants to levy tolls for passage and attacks ships it believes are trying to avoid its preferred route.
An April ceasefire collapsed as a result of ongoing attacks in the strait, which was open for travel prior to the conflict. Since then, mediators have called on both parties to revert to the conditions of a memorandum from June.
The reopening of Hormuz “is subject to other conditions and compensation for the violation” of the June deal, according to Iranian Foreign Minister Abbas Araghchi, who also stated that talks with Oman regarding transit and strait management were “approaching the final stages”.
Ending the “war and aggression against Iran and its allies in Lebanon, Palestine, Yemen, and Iraq” is one of the demands made by security chief Mohammad Bagher Zolghadr on Saturday in order to reopen the strait.
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