Iran says Strait of Hormuz cannot be opened due to ceasefire breaches
Iran's chief negotiator says the Strait of Hormuz cannot reopen due to violations of the ceasefire by the US and Israel. The strategic waterway, through which 20% of global oil passes, remains closed, deepening global energy crisis.
Iran uses the Strait of Hormuz closure as economic and strategic leverage, claiming US and Israel violations prevent reopening. The blockade keeps oil prices elevated and disrupts 20% of global crude shipments. Negotiations via Pakistan continue but both sides remain entrenched in their positions.
With the strait closed, shipping costs have surged and alternative routes are riskier. Tanker rates hit records as vessels detour around Africa—adding 40 days to transit times and pushing energy costs higher globally. Insurance premiums for transit have quadrupled. Oil refineries worldwide are struggling with supply uncertainty and elevated feedstock costs, driving up fuel and consumer prices.
Iran's chief negotiator says US and Israel violations—including alleged strikes on Iranian targets—have poisoned confidence. Trump has extended the ceasefire, but Iran wants concrete commitments: US force reductions and Israeli military withdrawal from Gaza. Without these, Iran signals it will keep the strait sealed. Markets price in prolonged disruption, risking stagflation across vulnerable economies.
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