US-Iran ceasefire and Strait of Hormuz negotiations (with Shery Ahn)

US and Iran agreed to halt tit-for-tat attacks and resume talks in Doha, Qatar, focusing on restoring safe transit through the Strait of Hormuz. Iran seeks leverage via tolls; US and allies reject any tolls. Frozen Iranian assets and Hezbollah remain contentious issues.

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US-Iran ceasefire and Strait of Hormuz negotiations (with Shery Ahn)

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Ceasefire is fragile with tit-for-tat strikes; talks focus on Strait of Hormuz but Iran seeks tolls, creating uncertainty for oil flows.

Oil prices pared opening gains on reports US and Iran agreed to halt attacks before resuming peace talks, after days of strikes threatened a fragile truce.

Shery Ahn
Wendy Benjaminson

Talks took a step backward Thursday when Iran hit ships and Bahrain (where US Fifth Fleet is headquartered); US hit back. Talks resume this week but focus has shifted from Iran's nuclear ambitions to the Strait of Hormuz, and have moved to Doha, Qatar.

The Strait of Hormuz is critical to restoring pre-war oil and gas flows.
Iran's Foreign Minister says Iran is solely responsible for restoring traffic in the Strait of Hormuz, having already charged tolls.

Shery Ahn
Wendy Benjaminson

The aim is for ships to transit the Strait safely and quickly as before the war. Trump says only he decides who goes through. US and allies say any tolls are a no-go. Iran has learned it has tremendous leverage by closing the Strait and wants to make money from it.

Before the war, tolls were never an issue.
Concerns remain around Hezbollah in Lebanon and Iranian frozen funds.

Shery Ahn
Wendy Benjaminson

Frozen assets (Iranian money sent to US before 1979 revolution) are a point of contention. Some was returned in the Obama deal, but not after Trump tore it up. A $300 billion reconstruction fund is also unresolved. Trump insists no US money will go to it. Israel and Hezbollah were not party to the interim deal; Hezbollah hasn't agreed to ceasefire, and Iran says if Israel strikes Hezbollah, the whole deal is off.

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