Tehran reiterated today that it intends to maintain control of the Strait of Hormuz.
This statement “comes” despite Washington’s announcement that it is proceeding with the suspension of some of its sanctions—particularly those related to oil—as part of the talks aimed at ending the war in the Middle East.
The talks held over the weekend in Switzerland laid “a very solid foundation for successfully reaching a final agreement,” the U.S. Vice President Jay D. Vance, while also announcing the two-month suspension of U.S. sanctions on Iranian oil.
However, the chief negotiator for Iran, Mohammad Bayer Galibaf, stressed yesterday, Monday, that the Strait of Hormuz will not return to its pre-war state, but that it will be his country that continues to “manage” the strategically important waterway, state media reported.
Shipments through the Strait of Hormuz—through which, under normal circumstances, 20% of the oil and liquefied natural gas consumed globally pass— were free from any control before the U.S. and Israel attacked Iran on February 28.
However “the management of the Strait of Hormuz will never be the same as it was before the war”, insisted Mr. Galibaf, emphasizing that Iran will be the one to “manage” it.
Tehran also reported today that it had reached an agreement in Switzerland with the Americans regarding the “immediate” release of Iranian funds worth 12 billion dollars that had been frozen abroad. They will be made available “in two installments of 6 billion”, Kazem Garibabadi, head of the Iranian delegation to the technical talks, clarified to the IRNA news agency .
Mr. Vance, on the other hand, stressed that his country would ensure that any funds that might be released “would not be used to finance terrorism.”
Galibaf in Oman
The round of negotiations that began over the weekend in Switzerland fueled hopes that the war would come to a lasting end and pushed the price ofNorth Sea Brent crude oil below the psychological barrier of $80, well below the $126 it had reached at the height of the armed conflict.
The negotiations, in which Pakistan and Qatar are acting as mediators, are expected to lead to a final agreement within 60 days, which is renewable if the parties deem it necessary.
In this context, Iranian President Masoud Pezeskian is expected to pay an official visit to Islamabad today, according to Pakistani diplomatic sources.
U.S. Secretary of State Marco Rubio, for his part, is expected to be in the UAE from today through Thursday, Bahrain, and Kuwait, his office at the State Department confirmed.
Iran’s negotiating team, led by Mr. Galibaf, traveled to Oman to discuss, specifically, the management of the Strait of Hormuz, according to the official IRNA news agency.
Under pressure to end the war that has eroded Americans’ purchasing power, Washington is stepping up its overtures toward Tehran.
With regard to oil, the Islamic Republic’s main resource, “all transactions” involving the production, sale, and transport of Iranian hydrocarbons “are permitted until August 21,” the U.S. Treasury Department stated.
According to Mr. Vance, in exchange, Tehran agreed to once again invite inspectors from the International Atomic Energy Agency (IAEA, part of the UN system), although this has not been confirmed by the Iranian side.
“First real test”
These inspections, which had begun under the 2015 agreement, were suspended by a decision from Tehran following the U.S.-Israeli airstrikes on these facilities in June 2025.
IAEA inspectors have not been able to visit the bombed facilities since then, which leaves doubts as to what became of the Islamic Republic’s stockpile of highly enriched uranium, an issue that has sparked intense disputes with Washington.
Tehran has consistently denied that it intends to acquire nuclear weapons, but remains uncompromising regarding its right to continue to have a comprehensive nuclear energy program.
