Mediators place renewed focus on reopening Hormuz

The ongoing conflict between Iran and the United States, which began six months ago, has significantly impacted the Middle East. However, Iranian Foreign Minister Abbas Araghchi suggests that diplomacy could still bring about a resolution, provided the US ends its pressure campaign. Diplomatic efforts, led by mediators such as Pakistan and Qatar, have been ongoing since the war's initiation but have yet to yield a permanent peace deal.

A ceasefire was reached in April and a memorandum of understanding for a final peace agreement was signed in June, yet no final agreement has been reached, and the US continues to impose an "economic warfare" against Tehran.

Recently, Araghchi met with his Qatari counterpart and discussed the closure of the Strait of Hormuz, which started the war. The US has imposed a naval counter-blockade on Iranian ports, disrupting fuel supplies in Iran due to domestic production shortfalls. Both Iran and Oman have been conducting talks about the future of Hormuz, which is crucial to the strait, with Iran insisting it remains closed as long as the US fails to meet its commitments under the June memorandum. This memorandum calls for the lifting of the US counter-blockade and the removal of sanctions.

Iranian lawmaker Esmail Kowsari warned that if the memorandum is not implemented and the US does not respect its commitments, the Strait of Hormuz would not only remain closed but also face Iranian offensive actions in distant places. While Washington aims to economically cripple Iran, experts remain skeptical about the extent of pressure the US can exert.

Iran has proven resilient against decades of international sanctions and analysts doubt the likelihood of unlikely cooperation from trading partners like China, which has pledged support for Tehran and protected its interests. China can still purchase Iranian crude via overland routes, which are not dependent on the Strait of Hormuz.

The US Treasury Secretary, Scott Bessent, has stated that no entity is beyond US sanctions, hinting at possible future sanctions on Chinese banks involved in business with Iran, ahead of Chinese President Xi Jinping's upcoming visit to the US.