Trump Says US-Iran Talks Making Progress on Hormuz Deal
US President Donald Trump stated that his administration engaged in “very good discussions” with Iran during the all-day negotiations on Tuesday, raising expectations for a potential resolution to the five-month conflict. Oil prices declined while equities surged in Asian markets on Wednesday, following Wall Street’s achievement of record highs amid optimism regarding a potential agreement to resume traffic through the obstructed Strait of Hormuz. “They had an all-day negotiation,” Trump told. The Strait of Hormuz “is going to be open very soon,” Trump added. “If they back out again, they are going to get hit really hard.” Trump has frequently issued threats of significant military action should Tehran fail to secure an agreement, while simultaneously referencing advancements in negotiations that have yet to resolve ongoing hostilities. Source reported that the US and Iran are nearing an interim agreement to reopen the strait, with the consent of Oman, which oversees a portion of the waterway. The report indicated that Washington was targeting an announcement on Wednesday.
However, Iranian state media, citing an informed source, indicated that an agreement with Oman regarding the strait, which typically facilitates approximately one-fifth of global oil and liquefied natural gas shipments, will be postponed “as long as the United States continues to threaten Iran.” Trump has not yet accomplished the goals he outlined at the onset of the conflict: dismantling Iran’s nuclear program, limiting its capacity to target regional adversaries, and fostering an environment conducive to the overthrow of its clerical leadership by the Iranian populace. Iran has suspended the majority of traffic through Hormuz, while Washington continues to enforce a blockade on shipping and ports associated with Iran. Qatar previously indicated that mediators were achieving advancements in their attempts to resolve the conflict, despite Tehran’s denial of any ongoing discussions. On Tuesday, Trump engaged in a phone conversation with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani, focusing on initiatives aimed at bridging the gaps between Washington and Tehran, as well as enhancing the potential for a durable resolution, according to Qatar’s Emiri office.
Esmaeil Baghaei, spokesperson for Iran’s Foreign Ministry, indicated that discussions with Oman regarding transit through the strait have been constructive and are ongoing, with an emphasis on the establishment of secure shipping routes, according to the source. He stated that the route under negotiation was intended to safeguard the sovereign rights and national security of both Iran and Oman. Iran has consistently asserted its claim to control over the Strait of Hormuz, arguing that it should share this strategic waterway with Oman, located on the opposite shore. Tehran, however, dismissed an Omani proposal last week that aimed to facilitate shared oversight and the collection of voluntary fees from vessels. Yemen’s Iran-aligned Houthis have imposed a naval blockade on Saudi Arabia in the Red Sea, thereby further restricting oil export routes. A projectile struck an Indian-flagged vessel near Yemen, resulting in its capsizing and subsequent sinking. However, all 14 seafarers aboard were rescued, according to Indian officials, who attributed the attack to the Houthis.
The United Nations’ International Maritime Organization has documented a minimum of 17 fatalities among seafarers resulting from 64 incidents in the Strait of Hormuz since the conflict commenced on February 28. These figures are supplementary to the Iranian government’s report of 50 individuals killed and 500 injured due to US strikes since the resumption of hostilities in late June. This data was released prior to Iran’s announcement that a US strike on Qeshm in late July resulted in the deaths of a husband, his wife, and their 2-year-old son. Iran has reported over 3,400 fatalities since the onset of hostilities initiated by the US and Israel on February 28, whereas the US has confirmed the deaths of 18 military personnel.
