Iran is in the 'process of blinking' over Hormuz, Petraeus says
Former CIA director David Petraeus said an initial successful peace deal with Tehran would see the Strait of Hormuz reopened without any conditions. His remark comes as US-Iran negotiations gather pace.
Former CIA director and retired general David Petraeus said Iran is in the 'process of blinking' over its restrictions on the Strait of Hormuz. According to Petraeus, an initial successful deal with Tehran would see the strait reopened without any preconditions being attached.
Iran has limited shipping through the waterway, one of the world's most critical oil chokepoints, throughout the war. The curbs have pushed up freight costs and added to uncertainty over oil prices. Petraeus made the assessment as indirect talks between Washington and Tehran continued to advance.
Analysts say a reopening would quickly ease pressure on energy markets. Even so, Tehran's leverage over the waterway remains an important bargaining chip in shaping any wider agreement. This content is not investment advice.
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