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US and Iran discuss phased deal to reopen Hormuz and end US blockade: Reuters
U.S. officials are weighing sanctions relief and frozen funds as a phased deal, with oil markets watching for a possible reopening of the waterway.
- On the sidelines of the United Nations General Assembly in New York, Foreign Minister Constantinos Kombos met Iranian Foreign Minister Abbas Araghchi, emphasizing the "importance of comprehensive dialogue and effective diplomacy in pursuit of lasting regional de-escalation."
- The Islamabad MoU, a 14-point interim understanding negotiated in June to reopen the Hormuz Strait, has returned to diplomatic discussions as the primary reference point for preventing further escalation.
- West Texas Intermediate futures settled below US$93 a barrel on Tuesday, after rising 4.5 per cent during the session, while conflict disruptions caused petrol to hover at around €1.68 per litre in Cyprus.
- President Donald Trump rejected an offer from Iranian Foreign Minister Abbas Araghchi to reopen the Hormuz Strait in seven days, stating, "They want to make a deal to open the Hormuz Strait immediately because they're losing so badly."
- Umer Karim, a Gulf security researcher at the University of Birmingham, noted that "a concession at this time by any party would be considered an expression of weakness," as Iran reportedly believes the Republican Party will lose November's midterm elections.
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U.N. Gensek António Guterrish, in a conversation with the head of the Iranian Ministry of Foreign Affairs, Abbas Arakchi, called for the continuation of the negotiations to achieve peace, was told in his office.
With the southern route disrupted, Iran has diverted some trade north via the Caspian Sea. However, this route faces numerous obstacles.
Coverage Details
Total News Sources284
Leaning Left23Leaning Right40Center66Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 18%
C 51%
R 31%
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