Iran has suggested it could reopen the strategically important Strait of Hormuz within seven days, provided the US reduces military pressure and ends its blockade of Iranian ports, according to Reuters and Japan’s Kyodo news agency.
According to Reuters and Kyodo, which cited a senior Iranian official speaking anonymously, Tehran has outlined the conditions it believes must be met before the waterway can reopen. The reports come almost seven months into the Middle East war, amid mounting economic pressure on Iran from the Trump administration.
Also Read | ‘Habibi, come to Iran’: Tehran takes dig at US with Minesweeper game over Strait of Hormuz
What are the conditions set by Iran for reopening Strait of Hormuz?
The reports said Iran could reopen the Strait of Hormuz within seven days if the US reduces military pressure and lifts its blockade on Iranian ports. The proposal comes amid Washington’s continued pressure campaign against Tehran.
A reopening of the strategic waterway could ease concerns in global energy markets. The Strait of Hormuz accounts for around 20 per cent of global oil and liquefied natural gas supplies, making any disruption to the route a major concern for the world economy.
US stock futures were mixed following the reports, while oil prices reversed their earlier gains. International benchmark Brent crude for November delivery fell 2.6 per cent to $97.73 per barrel, while US WTI crude for October delivery was down 3.1 per cent at $92.40.
The reports surfaced just ahead of President Donald Trump’s address to the United Nations General Assembly on Tuesday, with growing domestic criticism over his decision to go to war with Iran.
Houthi attacks condemned
Separately, the G7 urged the Houthis to stop attacks against Yemen and Saudi Arabia, including attacks on civilian shipping, while calling on Iran to end its support for the group.
The Houthis have reportedly struck “sensitive” sites in Riyadh and seized Yemen’s Perim Island in the Red Sea, tightening their control around the Bab el-Mandeb Strait. The UK has also reportedly agreed to provide Saudi Arabia with RAF air-to-air refuelling support.
from World – Latest News, Breaking News, LIVE News, Top News Headlines, Viral Video, Cricket LIVE, Sports, Entertainment, Business, Health, Lifestyle and Utility News | India.Com https://ift.tt/fOGZ5pY
