Iran threatens to close Strait of Hormuz if US blockade persists

Iran reopened the Strait of Hormuz on a temporary basis after a ceasefire deal in Lebanon, fueling hopes that diplomacy could gain traction, while warning that the vital shipping lane could be shut again if the recent US Navy blockade of Iranian ports continued.

Foreign Minister Abbas Araqchi said in a social media post that the strait, one of the world’s most sensitive arteries for energy shipments, would remain open to all commercial traffic for the duration of the US-brokered 10-day truce.

The ceasefire was struck on Thursday between Israel and Lebanon, which Israel invaded after the Iran-backed Hezbollah militant group entered the conflict.

US President Donald Trump, whose administration joined Israel in launching the war on Iran on 28 February, a conflict that has killed thousands and effectively closed the strait, hailed the move at a rally in Arizona as “a great and brilliant day for the world”.

But Mr Trump also made clear that a US blockade on ships bound for Iranian ports, unveiled after negotiations with Iran broke down last weekend, would stay in place until “our transaction with Iran is 100% complete”.

Tehran hit back quickly. Parliament speaker and senior negotiator Mohammad Baqer Qalibaf wrote on social media that the strait, which until recently handled roughly a fifth of global oil trade, “will not remain open” if the US blockade persists.

He also accused Mr Trump of making multiple false statements about the peace talks yesterday.

Donald Trump told Reuters the US would remove Iran’s stockpiles of enriched uranium

Iran has also said every vessel must now coordinate with the Islamic Revolutionary Guard Corps, a requirement that did not exist before the war. ‌

The Defence Ministry, in a statement carried by state television, said military ships ⁠and vessels tied to “hostile forces” — the US and Israel — still could not pass.

Shipping data showed about 20 vessels, including tankers, bulk carriers and container ships, heading through the Gulf toward the Strait of Hormuz yesterday evening.

Most of them later turned around, though the reason remained unclear.

Among them were three container ships operated by French shipping company CMA CGM, which declined to comment.

It marked the biggest convoy of ships attempting the passage since the war began.

It also remained uncertain how either side would tackle Iran’s nuclear programme, a central obstacle in negotiations, with Tehran insisting it has the right to pursue what it describes as a civilian nuclear energy programme.

Mr Trump told Reuters the US would take possession of Iran’s stockpiles of enriched uranium.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei, speaking to state TV, said ‌the material would not be moved anywhere.

In a separate development, a senior Iranian official said Tehran hoped a preliminary accord could be reached within days, potentially extending the ceasefire set to expire next week.

The official said that would create more room for talks on sanctions relief and compensation for war damage.

The US proposed a 20-year suspension of all Iranian nuclear ⁠activity at the talks in Pakistan

Markets reacted swiftly. Oil prices dropped about 10% and ⁠global stocks rallied on signs that shipping could resume through the Strait of Hormuz.

Shipping firms responded cautiously to Iran’s announcement, saying they still needed more clarity — including on the danger posed by mines — before sending vessels through the narrow entrance to the Gulf.

The US Navy ‌told mariners that the extent of the mine threat in parts of the waterway was still not fully known and advised them to consider steering clear of the area.

Following a video conference yesterday, Britain said more ⁠than a dozen countries had signaled readiness to join an international effort to safeguard shipping in the strait when conditions allow.

Mr Trump told Reuters that more peace talks could probably take place this weekend.

Some diplomats, however, said that seemed unlikely because of the practical challenge of assembling delegations in Islamabad, the Pakistani capital where the talks are expected to be held.

A Pakistani source involved in the mediation said the next meeting could produce an initial memorandum of understanding, followed by a full peace agreement within 60 days.

A senior Iranian official told Reuters that the deal included an agreement to unfreeze billions of dollars in Iranian assets, though no ⁠timeline was given.

Mr Trump, who has often described a peace agreement as a “deal” or “transaction”, told supporters at his Arizona rally that “no money will exchange hands in any way, shape or form”.

During last weekend’s talks, the US called for a 20-year suspension of all Iranian nuclear ⁠activity, while Iran proposed a pause of three to five years, according to people familiar with the plans.

Two Iranian sources said signs had emerged of a possible compromise that could see part of the stockpile removed.

Mr Trump told Reuters the US may not move quickly.

“We’re going to go in with Iran, at a nice leisurely pace, and go down and start excavating with big machinery,” he said in a phone interview.

“We’ll bring it back to the United States,” he added.

He referred to “nuclear dust”, alluding to the aftermath of US and Israeli bombing strikes on Iran’s nuclear facilities in June last year.

Even as Mr Trump projected confidence, Iranian sources told Reuters that “gaps remained to be resolved” before any preliminary agreement, while senior clerics adopted a sharply defiant tone during prayers.

“Our people do not negotiate while being humiliated,” cleric Ahmad Khatami said.

The US-backed ceasefire between Israel and Lebanon appeared largely intact, though the Lebanese Army reported some Israeli violations.

Paramedics said one person was killed in southern Lebanon in an Israeli drone strike.

The conflict flared again on 2 March when Hezbollah fired on Israel in support of Iran, triggering an Israeli offensive that authorities say has killed nearly 2,300 people.