Strait of Hormuz Iran deal: Strait of Hormuz to be closed again? What is happening with strait that carries nearly a fifth of global crude oil and liquefied natural gas supplies
The strait carried almost a fifth of global supplies of crude oil and liquefied natural gas before it was blockaded by Iran during the war. The body set up by Iran to manage the strait said on Friday that the interim agreement would waive planned fees during the negotiation period.
Israel and Hezbollah agreed to a ceasefire in Lebanon on Friday after an escalation of fighting in Lebanon jeopardized the chances of an interim agreement to end the war in Iran turning into a permanent Middle East peace deal. US President Donald Trump’s special envoy Steve Witkoff is heading to Switzerland for the first round of talks on a possible nuclear deal with Iran, Axios reported on Friday, citing a US official.
The development came a day after Vice President J.D. Vance canceled plans to attend talks in Lebanon, which were canceled due to renewed fighting. This escalation has led to new uncertainties about the fate of negotiations that are critical for reopening the Strait of Hormuz to global shipping.
Trump told NBC News that he met with Israel and asked Israel to agree to a ceasefire.
The memorandum of understanding signed this week by the presidents of Iran and the United States postponed discussion of Iran’s nuclear program and other thorny issues, giving the parties 60 days to reach a permanent agreement or extend the interim agreement.
Preparations for technical talks to begin at the Swiss mountaintop resort of Buergenstock were well advanced on Thursday when the White House said Vance would not attend. The Swiss foreign ministry said the talks had been postponed, that Switzerland was ready to facilitate them and that relevant preparatory work was ongoing.
The sweeping interim agreement requires the United States, Iran and their allies to declare an immediate and permanent end to military operations on all fronts, including Lebanon.
Israel, which was excluded from the talks, says it is not a party to the agreement.
Iranian Foreign Minister Abbas Araqchi said in a telephone conversation with his Pakistani counterpart on Friday that the United States will be responsible for violations of its commitments under the agreement, including ending the hostilities in Lebanon.
