Kremlin Says It Does Not Rule Out Restart of Peace Talks with Ukraine and US

Iran plans to announce a new restricted zone in the Gulf within days and publish maps for an alternative shipping corridor through the Strait of Hormuz, as renewed strikes have sharply reduced tanker traffic and pushed oil prices higher.

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The maps of a new international corridor which lies in Iranian and Omani waters and in which Iran will have management have been agreed and should be signed in the coming days.

Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said the zone would begin where the US blockade of Iran starts and extend into Gulf waters. Ships entering it would be placed on a sanctions list, he said in an interview with state television. Rezaei added that Iran and Oman had agreed on an international corridor through their waters, with Iran overseeing its management. "The maps of a new international corridor which lies in Iranian and Omani waters and in which Iran will have management have been agreed and should be signed in the coming days," he said.

Iran has linked the reopening of the strait to an end to US military pressure. "We will only commit to the Strait of Hormuz being open when they (the Americans) stop the sabotage, threats and attacks on Iran," Rezaei said. The waterway, a key energy route, has largely closed to tanker traffic since the conflict began. Shipping data showed an average of 10 commodity ships crossed it each day over the past 10 days, the lowest level since May. Brent crude rose 0.8% to above $97 a barrel on Monday, extending the previous week’s gains.

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We will only commit to the Strait of Hormuz being open when they (the Americans) stop the sabotage, threats and attacks on Iran.

The confrontation follows US-Israeli strikes on Iran six months ago and a preliminary ceasefire agreement reached in June that later unraveled. After a pause in military action through much of August, strikes resumed. US Central Command said US forces hit three Iranian oil tankers on Saturday, including one near Kharg Island, Iran’s main oil export hub, after attacks by Iran’s Revolutionary Guard Corps on US warships.

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From now on, any attack against Iran’s interests and security will receive a faster, heavier and more painful response.

Iranian officials also described mounting economic strain. Parliament Speaker Mohammad Baqer Qalibaf said any attack on Iran’s interests would receive a faster and heavier response, while identifying currency swings, inflation, unemployment and market management as major domestic challenges. Economy Minister Ali Madanizadeh said Iran would answer US economic pressure with reforms and rejected the idea that sanctions would change the country’s course. Iran says Kharg Island suffered 550 attacks in previous months, while the country had exported 90% of its crude through the hub before the war.

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I have to clarify one point: The responsibility of reforming Iran’s economy is with its government and people, not with the US Treasury.