Iran will reopen Strait of Hormuz in two days if US meets demands
Foreign Ministry spokesperson Esmail Baghaei said the waterway could be reopened if Washington lifts sanctions and releases frozen assets.
Iran is prepared to reopen the Strait of Hormuz within two days if the United States agrees to specific requirements, according to a report by Deccan Herald on Monday. Foreign Ministry spokesperson Esmail Baghaei stated that the plan depends on Washington's decision to meet Iranian demands.
The demands include the removal of sanctions by the Trump administration and the release of billions of dollars in assets that have been frozen. Baghaei told reporters that if these conditions are met, security could be restored to the vital oil and gas waterway quickly.
The Strait of Hormuz was closed by Iran following attacks by US and Israeli forces in February. This closure has impacted global energy markets and the economy. On Monday, the global benchmark oil price fell by 4 per cent to approximately $109 a barrel.
Qatari mediators are currently working to broker a deal between the two nations. Iranian Foreign Minister Abbas Araghchi told Al Jazeera on Saturday that negotiations have progressed, with the timeline for reopening the strait being reduced from five days to two days.
However, US and Israeli military officials are reportedly preparing for possible renewed strikes after the US midterm elections. Iranian leaders have warned they may expand their targets or withdraw from the Nuclear Nonproliferation Treaty if attacked again.
The diplomatic adviser to the president of the United Arab Emirates, Anwar Gargash, noted at a security conference in Bahrain that the positions of Iran and the US remain far apart.