Trump Vows Strait of Hormuz Reopening as Iran Adds Demands
US President Donald Trump has stated that the Strait of Hormuz will reopen 'very soon'. He made this comment during an interview with Fox News, warning Iran that a strong military response would follow if it backed out of the agreement again.
The US, Iran, and Oman are close to finalizing an interim deal to suspend tolls and transit fees for 60 days. The deal also includes clearing naval mines from the waterway, which is expected to take up to 30 days.
Iran has added new demands to the talks, including the right to collect maritime fees and an end to the US naval blockade. It also wants the United States to lift sanctions on Iranian oil.
Oil prices have fallen below $75 per barrel due to hopes for a resolution to the conflict. However, Bitcoin has risen above $64,000, gaining 2% in the past 24 hours.