A post by @FirstSquawk on X.
REZAEI CLARIFIED THAT TEHRAN WILL NOT OPEN THE STRAIT OF HORMUZ BEFORE ITS SEVEN CONDITIONS ARE MET AND THAT IT WILL NOT HOLD ANY NEGOTIATIONS REGARDING THIS DECISION
@FirstSquawk on X
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Iranian official Rezaei said Tehran will keep the Strait of Hormuz closed until seven conditions are met and will not negotiate that decision, according to a First Squawk headline. The statement signals no quick resolution to the disruption affecting the world's most important oil chokepoint, through which roughly a fifth of global petroleum moves in normal times. Traders will watch whether the seven conditions are disclosed and whether shipping traffic, insurance costs and crude prices react to the hardening stance.
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Named in this story
Strait of Hormuz, Rezaei, Tehran