Iran Says Hormuz Stays Closed Until U.S. Meets Six Sweeping Demands
Iran has effectively rejected expectations of an imminent reopening of the Strait of Hormuz, laying out sweeping conditions that would require the United States to fundamentally change its policy toward Tehran. In a statement issued by Mohammad Baqer Zolghadr, secretary of Iran's Supreme National Se
Source: OilPrice.com
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DW NOTE
Iran has effectively blockaded 18% of global oil supply for four months and is now naming its price: sanctions lifted, frozen assets released, nuclear programme unchallenged. The U.S. is negotiating rather than breaking the blockade because it cannot afford $120 oil in an election year with inflation still above 3.5%. This is what happens when you let a regional power hold energy markets hostage and call it diplomacy.