Iran offers to end Strait of Hormuz ‘chokehold’, but Trump’s reaction could send oil prices soaring again
Iran proposes easing Strait of Hormuz tensions if the US lifts its oil blockade, amid war fears, rising crude prices and ongoing diplomatic outreach to Russia.
A plume of smoke rises following a US-Israeli military strike in Tehran, Iran. (AP Photo)
Iran on Monday reportedly proposed to end its chokehold of the Strait of Hormuz, putting forward three conditions for the United States. The war in West Asia will soon complete two months despite a fragile ceasefire with no end in sight.
Iran’s 3 conditions for opening Hormuz
Tehran has reportedly offered to reopen the critical maritime chokepoint of the Strait of Hormuz if Washington lifts its blockade on the country and its ports and end the war in West Asia, while offering that discussions on the nuclear programme would come in a later phase.
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According to an AP report which quoted two regional officials, US President Donald Trump is unlikely to accept Tehran’s offer which was passed to American side by Pakistan.
The US blockade, which the Iran has sought to lift, is focused on preventing Tehran from selling its oil, in order to deprive the Islamic nation of its crucial revenue. Washington is also eyeing to potentially create a situation where Iran would be forced to shut its production as there’ll be nowhere to store the oil, AP reported.
Araghchi meets Putin in Russia
The development comes as Iran’s Foreign Minister Abbas Araghchi met Russian President Vladimir Putin on Monday in St Petersburg to gather support, Russian state news agency Tass said. Putin said that Moscow will do everything to bring peace to the Middle East and praised the Iranian people as “bravely and heroically fighting for their sovereignty, Tass reported.
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In a video interview posted by Iran’s IRNA news agency, Araghchi said that it was “a good opportunity for us to consult with our Russian friends about the developments that have occurred in relation to the war during this period and what is happening now.”
Since the war between US-Israel and Iran began on February 28, oil prices have soared steadily and tankers filled with crude were stranded due to the blockade of trait of Hormuz.
Brent Crude, which is the benchmark for international standard, was trading at around $108 per barrel on Monday, which is nearly 50% higher when the war began.
Last week, Trump extended the ceasefire indefinitely which was agreed between US and Iran on April 7 that has largely halted fighting.
A plume of smoke rises following a US-Israeli military strike in Tehran, Iran. (AP Photo) 
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