Pakistan's defense minister says the U.S. and Iran are nearing an arrangement over the Strait of Hormuz, even as Washington and Tehran trade fresh demands for war reparations. Tanker traffic through the strait stays thin, and a suspected Houthi attack in the nearby Bab el-Mandeb Strait has raised fears the conflict could widen.
Pakistan's defense minister, Khawaja Asif, said Tuesday that the U.S. and Iran are nearing some kind of arrangement over the Strait of Hormuz, according to Bloomberg News. He said the signals over the last two to three days point toward a peace arrangement or a deal, without giving further details.
Trump and Iran spar over reparations
The comments came as Washington and Tehran hardened their positions. President Donald Trump scoffed at a fresh list of demands Iran issued over the weekend, including a call for the U.S. to pay reparations for damage caused by the war. He said it was Tehran that must pay compensation for people killed and gravely wounded by roadside bombs and other attacks.
Trump also repeated his claim that the U.S. has 100% control of the Strait of Hormuz. Asked by reporters what action the U.S. would take against Iran next, he replied only: "You'll find out."
Iran's Supreme National Security Council has said the strait won't reopen until Washington lifts its naval blockade and sanctions, withdraws forces from the region, pays reparations and releases frozen Iranian assets. Iran's Foreign Ministry separately pushed back on U.S. Treasury Secretary Scott Bessent's claim that sanctions are suffocating the country's economy.
Shipping through Hormuz stays thin
Tanker traffic through the strait fell to six vessels on Monday, according to shipping data cited by Reuters, against a 10-day average of around 11 vessels. Before the war began in late February, roughly 130 to 140 ships traversed the strait.
Brent crude retreated after briefly touching $90 a barrel, though the disrupted shipping lane continues to weigh on crude oil markets. Even as Asif pointed to progress, three crew members aboard an Egyptian-owned vessel in the Bab el-Mandeb Strait were reportedly killed Tuesday in a suspected attack by Tehran-aligned Houthis, stoking fears the conflict could spread to the Red Sea shipping route.
U.S. forces also fired on a Panama-flagged vessel that tried to bypass the blockade early Tuesday, the Wall Street Journal reported. U.S. Central Command did not immediately respond to a request for comment on the report.
Sources: CNBC, Investing.com
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