Trump claims '100% control' of Hormuz, demands Iran pay reparations
President Trump is demanding reparations from Iran for historical damages, while international mediators suggest a potential deal regarding the Strait of Hormuz is nearing. Oil prices fluctuated in response to the conflicting signals of diplomatic progress and heightened rhetoric.
Why it matters
The situation impacts global energy markets and geopolitical stability in the Middle East, reflecting a volatile diplomatic environment.
The U.S. and Iran are close to "some sort of arrangement" over the Strait of Hormuz, a senior Pakistani minister has said.
Pakistan's defense minister, Khawaja Asif, told reporters on Tuesday that "things are shaping up again in favor of a peace arrangement or a deal," per Bloomberg News .
"The signals in the last two to three days are that we are close to some sort of an arrangement," he added, without providing further details.
It follows comments from a Qatari Foreign Ministry spokesperson, who told Al Jazeera that talks between Iran and Oman about opening a shipping channel through the Strait of Hormuz were at a "critical juncture."
The developments came even as Washington and Tehran appeared to harden their negotiating stance.
President Donald Trump said Monday that Iran should pay reparations for what he labeled "the damage they've done" over the past half a century.
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