Rubio: Negotiations on the Strait of Hormuz Progressing
US officials announce imminent breakthrough, while Iran directly denies that negotiations exist at all. Opening the key oil artery could lower global energy prices.
US officials announce imminent breakthrough, while Iran directly denies that negotiations exist at all. Opening the key oil artery could lower global energy prices.
US Secretary of State Marco Rubio said on Tuesday that negotiations to increase the passage of ships through the Strait of Hormuz are progressing and that a deal could be reached "very soon." This statement comes amid intense diplomatic efforts to ease tensions in the Middle East, but it directly contradicts Tehran's denial that any negotiations are taking place at all.
Optimism from Washington was further fueled by US Treasury Secretary Scott Bessent, who told CNBC he believes an agreement on opening the strait could be reached within a day or two. "We are in talks with the Iranians, and I think there is a chance that today or tomorrow we reach a deal on opening the strait," Bessent said.
When asked whether ships would have to pay for passage, Bessent was clear: "I think that would be freedom of navigation." He also emphasized the broader economic implications of a potential deal. "This is not just energy. It's fertilizers, refined products, various industrial gases. We could see a big relief trade as prices fall," he added.
President Donald Trump confirmed over the weekend that he called off a major strike on Iran to allow for negotiations on reopening the strategic strait. On his social media platform Truth Social, he wrote that the proposed deal would include "THE IMMEDIATE, FULL, AND TOTAL OPENING OF THE STRAIT OF HORMUZ and the end of Iran's nuclear threat."
"Based on this request, I agreed... to cancel the strike, provided that a DEAL is reached quickly," Trump wrote, adding that Israel is joining him in this commitment. According to a Middle East Eye source, this move is part of a recurring pattern over the past five months in which Trump announces "massive strikes" on Iran, only to call them off at the last minute.
Qatar's Foreign Ministry, one of the main mediators between Washington and Tehran, confirmed that "a proposed de-escalation resolution is circulating among the parties," as reported by Bloomberg.
However, from Iran come diametrically opposed messages. According to Middle East Eye, Iran on Monday denied that any negotiations with the United States are underway and that there are no plans for any meetings. This statement directly contradicts Trump's claim that talks are ongoing. Iranian citizens have expressed deep distrust of the US, demanding that any future agreement must guarantee Tehran's rights, given what they described as a history of broken promises by Washington.
Iran closed the Strait of Hormuz on February 28, 2026, after the US and Israel killed Supreme Leader Ayatollah Ali Khamenei. Although the two sides signed a memorandum of understanding on June 17 to reopen it, the agreement quickly collapsed due to disagreements over maritime routes. Tehran insisted on passage through its territorial waters, which Washington opposed.
After the collapse of the agreement, Iran bypassed the US naval blockade and attacked tankers off the coast of Oman, prompting the US to respond with 14 consecutive nights of strikes on Iranian targets. US crude oil prices fell about 3% on Tuesday, dropping below $78 a barrel, partly due to hopes for a diplomatic solution that would allow passage for ships stranded in the Persian Gulf.
