Middle East10 August, 20262 min read
Trump Demands Iran Compensate Victims as Iran Sets Conditions to Reopen Strait of Hormuz
“While the US has said it is involved directly in the talks, Iran has said it is talking directly only with Oman”
“There are no ongoing negotiations between Tehran and Washington, Iranian Foreign Minister Abbas Araghchi said Sunday”
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Iran says Strait will reopen only after US ends war and unfreezes Iran’s assets. Negotiations continue, with new demands; Iran proposes Oman-led management of Hormuz at an advanced stage.
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Hormuz Talks Harden
The United States and Iran exchanged new demands during negotiations for the reopening of the Strait of Hormuz, raising doubts about prospects for a wider deal to end their five-month war. Al Jazeera reported from Tehran that “The two sides are further apart,” as Iran said it was talking directly only with Oman and proposed sharing future management of the waterway.
The BBC said Iran’s conditions include that the United States must “correct” its behavior and meet a set of demands before the strait can reopen. CBS News added that President Trump demanded Monday that Iran compensate victims' families and Middle Eastern countries after Tehran said it wouldn't reopen the Strait of Hormuz without being compensated for war damage.
Compensation and Conditions
President Donald Trump told reporters at the White House, “We’re going to ask for money for the damage they’ve done over a 50-year period,” linking compensation to the reopening talks. Time reported that Trump rejected Iran’s stipulations and said he had instructed his representatives to demand compensation “for all of the people” that Iran has “killed and gravely wounded with their roadside bombs and many conflicts.”
Iran’s Supreme National Security Council set six conditions, including “The lifting of the US naval blockade on Iranian ports and the withdrawal of US naval and air forces from around Iran,” and “The unconditional release of frozen Iranian assets.” NBC News said Iranian Foreign Minister Abbas Araghchi told reporters that “The intermediaries are still making efforts to find ways to resume negotiations,” while also insisting that changes to maritime routes do not mean the strait has reopened.
Markets, Shipping, and Risk
Oil prices rose as uncertainty grew about reopening the Strait of Hormuz, with CNN saying Brent crude climbed about 2% to $89 per barrel and WTI rose about 2.3% to around $84 per barrel. The BBC reported that Iran’s conditions were tied to reopening the corridor and that “These conditions were already on the table within the framework of the memorandum of understanding,” but with timing and mechanism “substantially different.”
Gulf News said Iran’s effective blockade of the crucial energy conduit has rattled allies, roiled markets and driven up prices, while Trump said Sunday he was “low-keying it” in his approach to Tehran. CBS News also described how the focus on the Red Sea and Bab el-Mandeb Strait intensified as Iranian-backed Houthi rebels attacked government-held areas in Yemen, including the port city of Mokha and the central province of Marib.