Iran Sets Hormuz Demands
Tehran says an Oman-brokered deal is close but demands U.S. concessions before reopening Hormuz.
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Updated Aug 9, 8:29pm ETEvery side, every morning
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The reporting
Iran said a maritime arrangement with Oman for the Strait of Hormuz is in its final stages, but Foreign Minister Abbas Araghchi said it would not reopen the waterway unless the United States changes policy. Iranian officials tied reopening to conditions including ending U.S. sanctions, compensating wartime damage, permanently ending the conflict and withdrawing American forces from the region. Araghchi said Sunday there are no direct U.S.-Iran talks, only intermediary efforts to restart negotiations. The impasse undercut expectations of an imminent deal, lifting oil prices and pressuring U.S. stock futures.
Analysis & opinion
Trump Needs Off-RampMostly Left
Washington’s realistic exit now runs through concessions Trump hoped to avoid, possibly even accepting a limited Hormuz deal without a larger nuclear settlement. Iran’s leverage over the strait has made a clean victory declaration harder and left the administration searching for a way out.
Markets Punish StalemateLeft & Center
The Hormuz impasse is already feeding oil-price gains and modest stock-market weakness because a fifth of global oil and LNG flows through the strait. The diplomatic stall is an inflation and risk-asset problem, not only a Middle East security story.
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