United States President Donald Trump says the United States and Iran have made significant progress in talks aimed at ending months of conflict, raising hopes that the Strait of Hormuz could soon reopen.
Speaking to Fox News after a full day of negotiations on Tuesday, Trump described the discussions as positive and expressed optimism that a breakthrough was close.
“They had an all-day negotiation.
The Strait of Hormuz is going to be open very soon,” Trump said, while warning that Iran would face severe consequences if it withdrew from the talks.
“If they back out again, they are going to get hit really hard,” he added.
The renewed optimism lifted global markets. Oil prices fell on Wednesday as concerns over supply disruptions eased, while Wall Street closed at record highs on expectations that a deal could soon be reached.
According to Axios, citing regional sources and a US official, Washington and Tehran are close to reaching an interim agreement that would reopen the Strait of Hormuz with Oman’s support. The report said an announcement could come as early as Wednesday.
However, Iranian state media quoted an informed source as saying no agreement would be finalised as long as the United States continued to issue military threats against Tehran.
Qatar also confirmed that diplomatic efforts were making progress.
The country’s Emir, Sheikh Tamim bin Hamad Al Thani, discussed the negotiations with Trump during a telephone conversation on Tuesday, with both leaders reviewing efforts to narrow differences between Washington and Tehran and pave the way for a lasting settlement.
Iran’s Foreign Ministry spokesman, Esmaeil Baghaei, said discussions with Oman over shipping through the Strait of Hormuz were continuing in a positive atmosphere.
According to him, the talks are focused on creating safe shipping lanes while protecting the sovereign rights and security interests of both Iran and Oman.
The Strait of Hormuz, through which about 20 per cent of the world’s oil and liquefied natural gas supplies normally pass, has remained at the centre of the conflict.
Iran has largely halted commercial traffic through the waterway, while the United States continues to enforce restrictions on Iran-linked shipping.
The crisis has also spread beyond the Gulf. In the Red Sea, Yemen’s Iran-backed Houthi rebels have continued attacks on commercial vessels.
An Indian-flagged ship recently sank after it was hit by a projectile near Yemen, although all 14 crew members were rescued.
The International Maritime Organization says at least 17 seafarers have been killed in 64 separate incidents in the Strait of Hormuz since the conflict began on February 28.
Iran says more than 3,400 people have been killed since the war started, while the United States has reported 18 military deaths.
Despite the renewed diplomatic momentum, key issues, including Iran’s nuclear programme, regional security and freedom of navigation through the Strait of Hormuz, remain unresolved.
REUTERS.
