Iranian Foreign Minister Abbas Araghchi has stated that the responsibility for reopening the Strait of Hormuz rests solely with Tehran, rejecting external pressure to unilaterally restore full transit access.
The comments, reported by multiple wire services, highlight the diplomatic stalemate surrounding the critical waterway, which handles roughly a fifth of global oil consumption.
The assertion comes as markets continue to price in elevated shipping risk.
Brent crude remains under pressure from the threat of disruption, with tanker rates reflecting the ongoing uncertainty.
Traders are watching for any shift in rhetoric that might signal a de-escalation, but Araghchi’s stance suggests Iran views the strait’s status as a central bargaining chip in broader negotiations.
This development follows reports that a draft agreement between the United States and Iran includes provisions for the immediate reopening of the Strait of Hormuz and a temporary lifting of oil sanctions.