Iran to reopen Hormuz Strait in 7 days
Iran has proposed a plan to open the Strait of Hormuz and resume nuclear negotiations with the United States within a week, provided that Washington responds to its demands, based on previous understandings. The initiative comes amid escalating tensions in the region, with ongoing Houthi attacks on Saudi Arabia and a slowdown in maritime traffic through the strait, which handles about one-fifth of the world's oil supplies. This has led to a slight, noticeable decrease in oil prices. International countries, especially China and the United States, are closely monitoring the global diplomatic efforts to reduce escalation, while the fate of the initiative remains dependent on the American response, amid fears that further escalation could impact the oil market and regional stability.
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