Iran war mediators have placed renewed emphasis on reopening the Strait of Hormuz, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation.
With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar met senior Iranian leaders in Tehran, stressing the importance of returning to the pre-war status of open shipping through an international waterway.
Qatar, a US ally and Gulf neighbour of Iran, and Pakistan helped broker a memorandum of understanding in June that led to a ceasefire and set terms for shipping in the Strait of Hormuz, the narrow stretch between Iran and Oman that before the war was the conduit for 20% of the world’s oil supply.
After the US and Israel launched the war six months ago, Iran threatened to strike any vessel transiting the strait without its authorisation, driving down traffic and sending up the price of oil, providing Iran with leverage in the bargain.
During his mission to Tehran, Qatari Prime Ministerand Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thanisaid on X that he underscored to senior Iranian officials “the importance of respecting freedom of navigation in the Strait of Hormuz in accordance with international law.”
Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, later said Iran was preparing a list of conditions for reopening the strait after mediators asked Tehran to set them out.
Speaking through an interpreter in an Al Manar TV interview, Mr Rezaei said Iran had agreed with Oman on a shipping corridor through the strait, with parts of the route in Omani waters and parts in Iranian waters.
Ships would use a designated central channel if the US met Iran’s conditions, he said.
In the past Iran’s conditions have included an end to the US blockade on Iranian ports, compensation and removal of sanctions.
It remained unclear whether Iran intended to amend those demands in a way that might be acceptable to the Americans.
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Tehran and Washington have exchanged little more than bellicose statements in recent weeks, leaving the diplomacy to third parties.
So far Iran has insisted on returning to the June memorandum of understanding that established a ceasefire within a 60-day window for negotiations. But that deal quickly fell apart over differing interpretations of Iran’s authority over shipping arrangements, and mR Trump declared the MOU was “over” three weeks after it was signed.
Iran’s Revolutionary Guards said on Wednesday that Iran and Oman had agreed in principle on administering traffic in the strait and sharing revenues, but a senior Iranian source later said the two countries were still working on the details of an agreement.
Meanwhile, US military commanders say American forces have cleared sea mines from the strait that had been laid months ago by Iran’s Islamic Revolutionary Guard Corps.
“Bottom line: today, international shipping lanes are open and momentum is building,” Admiral Brad Cooper, commander of the US military’s Central Command, said in a video message posted on social media.
US forces have in recent months helped 1,500 commercial vessels carrying nearly 750 million barrels of crude oil to transit the strait, Mr Cooper said.
Mr Trump has repeatedly said the strait was open, but many vessels have opted against sailing through it because of Iranian threats, and ship tracking services have estimated activity at roughly 5% to 15% of normal volumes.
The UN’s International Maritime Organization has reported 70 incidents in the Strait of Hormuz since the start of the war that have killed 19 seafarers.
Meanwhile Treasury Secretary Scott Bessent will step up efforts to isolate Iran economically as he hosts G20 counterparts next week, a US official said, in a gathering clouded by war and trade tensions.
Finance ministers and central bank governors from the Group of 20 major economies are due to convene in mountainous Asheville, North Carolina, next Monday and Tuesday.
Their talks are the first of several key ministerial meetings this year, setting the stage for a G20 leaders’ summit President Donald Trump will host in December in Florida.
In Asheville, US officials will stress to G20 members the importance of complying with its sanctions on Iran, as it ramps up pressure on Tehran amid war in the Middle East, a Treasury official told reporters.
The official signaled Mr Bessent will make direct appeals to counterparts in bilateral meetings. But they stopped short of sharing who he had scheduled talks with and whether they include China.
The G20 comprises 19 nations plus the European Union and the African Union.
It was established in the wake of the 1997-1998 Asian financial crisis to boost global economic and financial stability.
But South Africa has been excluded from the G20 under the US presidency this year, while Washington invited Poland to a seat at the table.
Next week, US officials will also push to address concerns like excess industrial capacity, promoting stronger economic growth and building reliable supply chains for critical resources like energy.
Although G20 talks broadened to cover issues like climate change and global health over time, analysts expect Washington to advocate a “back-to-basics” approach this year.
Countries are also grappling with economic fallout after US-Israel strikes on Iran from February plunged the Middle East into war, causing energy costs to surge.
Mr Bessent has laid out plans to isolate Iran economically, widening secondary sanctions threats and warning of dire consequences for countries that fail to join the campaign.
But doing so will likely require taking on China, the main buyer of Iranian oil – a difficult task ahead of Mr Trump’s expected September summit with Chinese leader Xi Jinping.
