US threatens fresh Iran strikes
Digest more
Iran, Strait of Hormuz and Oil prices
Digest more
The US President also added that Israel has also expressed its commitment to halt strikes and reach a peace deal.
Some experts say the Strait of Hormuz will not return to its pre-war state, so what could the future of this vital shipping lane look like?
By Yasmine Ghania and Menna AlaaElDin CAIRO, August 2 (Reuters) - U.S. President Donald Trump said late on Saturday he would hold off on a fresh attack on Iran as long as a deal could be reached quickly to halt Iran's nuclear ambitions and reopen the Strait of Hormuz.
Recognizing Iran's control over the Strait of Hormuz could set a dangerous precedent, with other countries attempting to claim important waterways, analysts say.
A Qatari-flagged tanker carrying liquefied natural gas through the Strait of Hormuz was reportedly struck by a missile Saturday, while US embassies in the region began urging Americans to leave the Middle East.
For the first time in decades, the Middle East is investing seriously in a future in which the Strait of Hormuz may no longer be indispensable.
As Iran's attacks keep ship traffic through the Strait of Hormuz to a trickle and oil prices surge, Gulf states are planning to invest billions in pipeline alternatives.
Iranian MP calls for closure of the Strait of Hormuz in response to US and Israeli actions. Normal traffic by August 31 at 8.5% YES.