Iranian International Minister Abbas Araghchi speaks throughout a press convention held on the Ministry of Inside in Tehran, Iran, on Aug. 8, 2026, on the event of Nationwide Journalists’ Day.
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Iranian International Minister Abbas Araghchi stated Tehran is just not at the moment in direct talks with the U.S. to finish the warfare with Iran and open the Strait of Hormuz, regardless of Washington’s assertions {that a} deal is close to.
A quick hiatus in combating between the U.S. and Iran after a June 17 memorandum of understanding has been adopted by weeks of Iranian drone and missile assaults on transport within the strait and neighboring Gulf nations, in addition to counterstrikes by the U.S. on Iranian targets.
Araghchi stated Sunday that his nation is not participating in talks with the U.S., however added that “messages are being exchanged by intermediaries,” in accordance with information company Mehr. Araghchi additionally reportedly stated that if Iran strikes a cope with Oman to safe a commerce route by the strait, the U.S. nonetheless should meet Tehran’s situations to reopen the strait.
“Talks with Oman don’t imply the Strait of Hormuz can be reopened. An settlement could also be reached, however reopening the strait relies on different situations conveyed by intermediaries,” Araghchi was quoted as saying.
Oman has been a key interlocutor, particularly on the thorny difficulty of the strait, an important gateway for a couple of fifth of the world’s power provides.
Iran’s overseas minister stated a day earlier that Tehran and Oman, which border the waterway, had been near reaching an settlement on navigation, “particularly the dedication of a transit route.”
U.S. Treasury Secretary Scott Bessent informed CNBC on Tuesday that an settlement to open Hormuz with freedom of motion might come as quickly as Wednesday. President Donald Trump and Secretary of State Marco Rubio had additionally indicated that an settlement was imminent.
Sweeping calls for
On Saturday, Iran laid out sweeping calls for to the U.S. for reopening the Strait of Hormuz, in accordance with media studies.
The Secretary of Iran’s Supreme Nationwide Safety Council, Mohammad Bagher Zolghadr, stated reopening the strait would require Washington to raise its naval blockade and sanctions, withdraw U.S. army forces from the area, pay warfare reparations, and launch frozen Iranian belongings.
The council additionally referred to as for an finish to U.S. assaults on Iran’s regional allies and to threats in opposition to Iran, in accordance with the studies.
CNBC has not independently verified the calls for. The White Home didn’t reply to a request for remark.
In response to the interim deal signed in June between the usand Iran, a schedule to finish sanctions and a compensation plan could be a part of the ultimate deal, as would negotiations to deal with frozen belongings. The top of a 60-day interval agreed to barter a last deal will are available in simply over per week.
Iran and Oman are engaged on an settlement to outline transit routes by the strait, in accordance with media studies. Inbound site visitors would transit Iranian waters whereas outbound site visitors would undergo Omani waters.
However Iranian state media printed a draft plan Thursday that may prohibit site visitors by Hormuz. The plan is underneath overview by Iran’s parliament, in accordance with the state outlet Fars.
Oil costs rose Friday as traders waited for an settlement. Ship site visitors by Hormuz was down 33% on Friday in comparison with the day prior, with most vessels utilizing the Iranian route, in accordance with the commerce intelligence agency Kpler.
Brent crude futures, the worldwide benchmark, gained greater than 1% to shut at $83.55 a barrel. U.S. West Texas Intermediate superior about 1% to settle at $78.18 per barrel. Costs fell greater than 7% for the week.
JIZAN, SAUDI ARABIA – 26 JULY 2026: A satellite tv for pc view of smoke plumes rising from Saudi Aramco’s refinery advanced and oil terminals in Jazan/Jizan, Saudi Arabia, after coordinated Houthi strikes launched from Yemen. Imaged 26 July 2026. (Picture by Gallo Photos/Orbital Horizon/Copernicus Sentinel Knowledge 2026)
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Houthi assault on Aramco
Firefighters extinguished a blaze at a refinery belonging to Saudi Arabian oil big Aramco early Sunday, the nation’s authorities stated. Iran-backed Houthi rebels in Yemen reportedly claimed accountability for attacking the power.
“The competent authorities are finishing the mandatory procedures to cope with the incident” on the Saudi Aramco refinery in Jazan, Saudi Arabia’s Ministry of Vitality stated in a assertion on X, including that nobody was injured. The assertion didn’t say what brought on the fireplace.
Iran-backed Houthis reportedly stated they carried out a drone strike on the power.
“Yemen’s Armed Forces stated they hit Saudi Arabia’s Aramco refinery in Jizan on Sunday, describing the drone strike as exact and carried out in response to Saudi drone violations of Yemeni airspace,” Iranian state-backed information company Mehr stated in a publish on X.
CNBC has not independently verified the declare. The Houthis have claimed accountability for a variety of assaults on the Saudi Aramco facility because the begin of the warfare.
— CNBC’s Tanaya Macheel contributed to this story.
