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Iran — World Affairs

Pakistan Says US And Iran Near Possible Deal On Strait of Hormuz

Defense Minister Khawaja Asif told reporters Tuesday that "things" appeared to be moving in favor of peace, although no final agreement has been announced.

,   and  TIPP Staff
2 min read
Pakistan says US and Iran close to 'some sort' of deal despite attacks on shipping. Pic via(@straits_times)

Pakistan says the United States and Iran are moving closer to an agreement over the Strait of Hormuz, despite continuing incidents involving commercial shipping.

Defense Minister Khawaja Asif told reporters Tuesday that "things" appeared to be moving in favor of peace, although no final agreement has been announced.

According to the report, Iran wants several conditions met before reopening the strategically important waterway.

These include lifting naval blockades around Iranian ports, releasing frozen assets and providing compensation for damages linked to an interim peace agreement reached in June.

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The dispute has already created significant economic pressure. Central bank data reportedly shows Iran's annual inflation reaching 77%, while the cost of hiring supertankers on the Middle East-to-China route has approached $500,000 per day.

Tensions remain despite signs of diplomacy. A container ship incident was reported in the Gulf of Oman, while another cargo vessel was reportedly struck near Yemen's Red Sea coast.

UAE diplomatic adviser Anwar Gargash warned that the region cannot remain indefinitely in a state between war and peace.

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