Iran links Strait of Hormuz reopening to US fulfilling commitments, as leaders acknowledge severe economic toll and push for regional unity.

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The ongoing conditional closure of the Strait of Hormuz maintains high regional tensions. Severe economic pressure on Iran could lead to unpredictable responses, despite diplomatic overtures.

📌 Key developments

• Deputy Foreign Minister Kazem Gharibabadi stated that an understanding with Oman regarding Strait of Hormuz transit is contingent on the US fulfilling its commitments under the June Islamabad MoU; Iran maintains control and is not rushing to reopen the strait.
• Supreme Leader Mojtaba Khamenei, in a message for Government Week, called for national unity, warned against publicizing problems, and urged officials to emphasize Iran's strength amidst the ongoing conflict.
• President Masoud Pezeshkian acknowledged a 35% decrease in Iran's imports and exports due to US sanctions and the naval blockade, while reiterating Iran's willingness for diplomacy if the US abandons its pressure campaign and builds trust.
• Parliament Speaker Mohammad Bagher Ghalibaf advocated for regional security based on cooperation among Muslim nations, cautioning against reliance on external powers.
• Foreign ministers from the UK, Germany, France, Egypt, Saudi Arabia, Pakistan, and Türkiye are expected to meet in Istanbul today to discuss freedom of navigation in the Strait of Hormuz and regional security.

💡 Why it matters

This conditional stance on the Strait of Hormuz maintains high regional tensions and impacts global energy markets, signaling Iran's intent to use its leverage. The public acknowledgment of economic hardship underscores the internal pressures on the government, while the emphasis on national unity and regional cooperation reflects a strategy to counter external pressure and potentially bypass Western influence. The Istanbul meeting indicates ongoing international efforts to de-escalate, though Iran's direct engagement is not explicitly stated.

🎭 People in the news

• Mojtaba Khamenei — Supreme Leader, who issued a message calling for national unity and emphasizing Iran's strength amidst economic hardship and conflict.
• Masoud Pezeshkian — President, who acknowledged a 35% decrease in trade due to sanctions and expressed conditional willingness for diplomacy with the US.
• Kazem Gharibabadi — Deputy Foreign Minister, who explicitly linked the reopening of the Strait of Hormuz to US fulfillment of commitments under the Islamabad MoU.
• Mohammad Bagher Ghalibaf — Parliament Speaker, who advocated for regional security based on Muslim nations' cooperation and warned against reliance on external powers.
• Seyed Abbas Araghchi — Foreign Minister, who stated that resuming diplomacy with the US is 'not impossible' if Washington abandons its pressure campaign, builds trust, and upholds commitments.

👀 What to watch

• Outcomes and statements from the foreign ministers' meeting in Istanbul regarding the Strait of Hormuz and regional security.
• Further statements from Iranian officials on the economic situation and any new measures to mitigate the impact of sanctions.