Hopes for Hormuz deal fade as Trump demands Iranian reparations
Trump's proposal, which had not been raised prior, was a response to Iran's demands for compensation
President Donald Trump on Monday demanded that Iran pay reparations for damages and deaths caused during wars, attacks, and protests, complicating hopes for a renewed peace deal over the Strait of Hormuz. Iran's demands for compensation and sanctions relief had been largely aligned with a preliminary peace deal signed in June, but those talks have since stalled.
Trump stated that Iran should pay for the damage inflicted over a 50-year period, citing the deaths of civilians and US forces. He added that Iran should also compensate the families of 17 US sailors killed in the 2000 USS Cole attack, though Iranian authorities blame that attack on Al Qaeda, not Iran. The proposal comes as oil prices rose by 5 percent on Monday, reflecting diminished expectations for reopening the vital waterway.
The US and Iran reached a ceasefire in June, but the US reimposed a blockade on Iranian shipping in July, a move Iran deemed a violation of the truce. Iran has retaliated with missile and drone strikes against allies of Washington, as well as commercial ships passing through the strait without its permission.
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