Pezeshkian conditions Hormuz access on sanctions relief

Iran's President Masoud Pezeshkian has stated that Iran will not guarantee unrestricted access to the Strait of Hormuz while US sanctions and a naval blockade persist. In his address to the United Nations General Assembly, Pezeshkian highlighted that Iran cannot accept a system where other nations benefit from the strategic waterway while Tehran faces restrictions on shipping.

He emphasized that Iran's security cannot be ensured by undermining the security of coastal states and that the freedom of navigation in its own waters is non-negotiable. This stance emerged following the first known indirect talks between Iranian and US representatives in New York, mediated by Qatar, where Tehran outlined conditions for ending the conflict.

Iran's demands include an end to hostilities, cessation of US military pressure, lifting of the naval blockade, and the release of frozen Iranian assets. Tehran further suggested that the Strait of Hormuz could reopen within seven days if Washington reduces military pressure and removes restrictions on Iranian ports and vessels.

However, a senior Iranian official noted that significant differences persist between the two sides despite ongoing diplomacy. The US, for its part, insists on the Strait remaining open to all international shipping and has rejected Iran's attempts to assert greater control over the passage. US Secretary of State Marco Rubio emphasized that any agreement would necessitate sustained negotiations and reiterated the possibility of military action under President Donald Trump's consideration.

Iran has maintained its stance against acquiring nuclear weapons but has reaffirmed its right to peaceful nuclear technology, arguing that the dispute cannot be resolved through military means and requires an agreement that safeguards Iran's rights while ensuring the peaceful nature of its nuclear program. The Strait of Hormuz has become a critical issue in the ongoing US-Iran conflict, with commercial traffic in the waterway reduced and irregular despite repeated attacks and heightened military activity.

The recent attack on a cargo vessel resulted in injuries to two crew members before the vessel was left burning and adrift. Energy markets continue to be sensitive to developments around the Strait, with oil prices rising as traders assess the implications of Pezeshkian's comments, the status of negotiations, and the potential for further disruption to Gulf exports.

However, some Gulf producers have resumed export volumes by utilizing alternative routes and ship transfers beyond the Strait, while regional crude quantities remain absent from global markets. Pezeshkian's position has also encountered opposition within Iran, with hardline-aligned media criticizing diplomatic contacts with US representatives, arguing that Iran has already communicated its conditions and should not extend further diplomatic openings to Washington.