Iran conditions reopening of Strait of Hormuz on US acceptance of its demands

Iran has drawn a line in the Persian Gulf’s most critical chokepoint: the Strait of Hormuz stays closed until the United States meets its conditions. Tehran is demanding an end to US naval blockades of Iranian ports and hostile military activities in the region before it will allow full commercial shipping to resume through the narrow passage that handles roughly 20% of the world’s oil and liquefied natural gas trade. How we got here Iran closed the Strait following US and Israeli strikes on February 28, 2026. That single decision sent shockwaves through global energy and shipping markets, effectively bottlenecking a fifth of the world’s petroleum supply. A diplomatic lifeline appeared on June 17, 2026, when the US and Iran signed a memorandum of understanding for a 60-day toll-free reopening. The agreement collapsed in July after attacks on vessels transiting the waterway and a fresh round of US sanctions against Iran. Now, as of early August 2026, Iran and Oman are reportedly close to finalizing new shipping corridors through the Strait. Iran is seeking service fees in the range of 3% to 7% of total cargo value for vessels using the proposed routes. For context, a single supertan...