Iran keeps Hormuz Strait closed until US meets deal conditions

The Strait of Hormuz, the narrow waterway through which roughly one-fifth of the world’s oil and liquefied natural gas supply flows, remains closed to commercial shipping. Iran confirmed on August 18 that it will not reopen the strait until the United States satisfies a list of conditions outlined in a June memorandum of understanding that has since collapsed. What Iran wants Iranian negotiator Mohammad Baqer Qalibaf laid out the terms plainly. Iran is demanding the lifting of the US naval blockade of Iranian ports, the unfreezing of Iranian assets, an end to sanctions, war compensation, and a cessation of US support for attacks on Iranian allies. The US has refused these proposals, making any near-term resolution look unlikely. The closure traces back to February 28, 2026, when Iran shut down the strait following US-Israeli military strikes. In the months since, ceasefires and partial reopenings occurred intermittently from April to August 2026 before disputes pulled the gate shut again. The most promising diplomatic effort was the June 17 interim memorandum of understanding, which established a 60-day window for free commercial passage. That framework fell apart over disagreement...