By Parisa Hafezi and Katharine Jackson

Dubai/Washington, Aug 18 (Reuters) – President Donald Trump announced Tuesday that no negotiations are planned with Iran and none are scheduled, reiterating that the Strait of Hormuz remains open, countering a recent Iranian claim that the vital waterway is still closed to shipping.

With the chances of reaching a deal to end the nearly six‑month conflict diminishing, oil prices rose again on Tuesday, while equity markets fell and borrowing costs for major economies, including the United States, climbed to multi‑decade highs amid worries about the crisis’s long‑term inflationary and fiscal consequences.

The temporary cease‑fire agreement that expired on Monday was followed by a statement from a senior Iranian official to Reuters indicating that the country was adopting a fully offensive military posture because of the diplomatic deadlock, although no new strikes were reported on Tuesday.

Trump stated on Truth Social on Tuesday that there are no ongoing or planned discussions with the Islamic Republic of Iran.

He added that the naval blockade is in full force and effect, the Hormuz Strait is open for operation, and all naval mines have been cleared or destroyed.

On Monday, Jared Kushner, Trump’s son‑in-law and special envoy, expressed optimism, saying that talks with Iran were still ongoing and likely more robust than ever before.

Shipping Disruption

Despite Trump’s typically exuberant comments on the Gulf, preliminary shipping data on Tuesday indicated that only a handful of vessels transited the Strait of Hormuz on Monday.

UK Maritime Trade Operations reported on Tuesday that a vessel suffered engine‑room damage and a crew casualty after being struck by an unidentified projectile while transiting outbound through the Strait of Hormuz.

The surviving crew members were being assisted by the Omani Coast Guard, according to the report.

Senior Iranian negotiator Mohammad Baqer Qalibaf said in state media comments that the strait would stay closed until the United States fulfills the conditions of the June interim deal with Iran.

These conditions include the United States lifting its blockade of Iranian ports, removing oil sanctions, releasing Tehran’s frozen assets, and ending threats and military operations on all fronts, Qalibaf told parliament.

A memorandum of understanding signed on June 17 established a 60‑day window for a comprehensive agreement on Iran’s nuclear program and sanctions; that period expired on Monday, and Trump said he has no intention of extending it.

The agreement, which declared an immediate and permanent end to military operations on all fronts, quickly unraveled over a dispute concerning control of the Strait of Hormuz—the narrow waterway through which roughly a fifth of global oil and liquefied natural gas passes prior to the war.

Iran Remains Open to Talks

Both Trump and Tehran have repeatedly alternated between threatening language and conciliatory rhetoric as they search for a resolution to the crisis, which began when the United States and Israel launched strikes against Iran on February 28.

Iran remains open to dialogue with the United States but does not equate negotiations with surrender, said Mohammad Mokhber, an adviser to the supreme leader, on Tuesday, according to the semi‑official Fars news agency.

Mokhber asserted that military pressure and sanctions would not break Iran’s resolve, adding that the country would defend its security, dignity and allies while avoiding war.

Even as Iran projects resilience, its leaders worry that additional economic threats could worsen hardships, reignite unrest, and further undermine the Islamic Republic’s legitimacy, according to three Iranian officials.

Thousands of people have been killed in the conflict, primarily in Iran and Lebanon. Iran has bombed U.S. military bases and facilities in several countries, including Oman, Jordan, Kuwait, Israel, the United Arab Emirates, and Saudi Arabia.

Benchmark Brent crude oil futures have surged throughout the conflict, peaking at $126 per barrel—a level about 75% above pre‑war prices. On Tuesday, Brent futures rose 20 cents to just over $91 per barrel.

Source link

Exit mobile version