Iran Says No Return to Prewar Order in Strait of Hormuz
Summary
- Iranian Foreign Minister Abbas Araqchi said Iran would maintain its influence over the Strait of Hormuz.
- The US and Iran are expected to sign an agreement within days, and the proposal includes the reopening of the Strait of Hormuz, lifting the US blockade on Iran and dismantling Iran’s nuclear program.
- Markets see progress in US-Iran talks, but differences remain over control of the Strait of Hormuz and the region’s broader security architecture.
Forecast Trend Report by Period
Iranian Foreign Minister Abbas Araqchi said Iran will maintain its influence over the Strait of Hormuz even as the prospect of a deal with the US has emerged.
Walter Bloomberg reported on June 12 that Araqchi said, “Our sword will always hang over the Strait of Hormuz.”
He also said the strait’s management system would not return to the prewar era.
The comments came shortly after the US government said its proposed agreement with Iran includes reopening the Strait of Hormuz.
A senior US official had earlier said Washington and Tehran were expected to sign an agreement within days. The proposal includes reopening the Strait of Hormuz, lifting the US blockade on Iran and dismantling Iran’s nuclear program.
Iran, meanwhile, has left open the possibility of reopening the waterway while signaling that its future management framework and security order will differ from the previous system.
Markets view the US-Iran talks as having made substantial progress, though differences remain over control of the Strait of Hormuz and the region’s broader security architecture.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
