Washington and Tehran Face a Difficult Deal as Hormuz Becomes Key to War and Markets
Latest news on WhatsApp أجدد الأخبار على واتساب
Iran is reviewing a U.S. proposal for a temporary agreement aimed at halting the war and opening the door to broader negotiations, while major disputes remain over sanctions, oil exports, the nuclear file, and the future of the Strait of Hormuz.
Recent reports indicate that Tehran has not yet delivered a final response to the proposed text, while Washington says talks are continuing. The United States wants any agreement to include the reopening of the Strait of Hormuz and a reduction in pressure on fuel markets.
The proposal does not appear to be a final peace agreement. Instead, it is being discussed as a temporary truce that would give both sides time to negotiate the most difficult issues. Iran is reportedly seeking a limited interim deal that would ease economic pressure through oil revenue access, sanctions relief, and port-related measures, while avoiding major concessions on its nuclear program. Washington, meanwhile, wants any deal tied to reopening Hormuz and preventing Iran from acquiring a nuclear weapon.
The Strait of Hormuz has become the core of the proposed deal because it is not only a regional waterway, but one of the world’s most important energy arteries. The International Energy Agency says around 25% of global seaborne oil trade moved through the Strait in 2025, along with more than 110 billion cubic metres of liquefied natural gas.
The U.S. Energy Information Administration also says flows through Hormuz in 2024 and the first quarter of 2025 accounted for more than one-quarter of global seaborne oil trade, about one-fifth of global oil and petroleum product consumption, and around one-fifth of global LNG trade. That explains why any disruption can quickly affect fuel prices, shipping costs, inflation, and consumer markets far beyond the Middle East, including Canada.
Shipping data in recent days showed limited movements of oil and LNG tankers through the Strait, but analysts caution that these do not yet signal a full return to normal traffic. Instead, they reflect fluctuating hopes that a broader deal could eventually allow safer transit through the waterway.
The central challenge is political as much as economic. Washington wants a deal that lowers fuel prices and shows it can contain the crisis. Tehran wants sanctions relief and continued leverage in the Gulf. Between them, global markets and Arab and Muslim communities are watching closely, because any breakthrough could ease energy pressure, while failure could trigger a new wave of escalation.
For now, this is not a completed agreement. It is a critical negotiating moment. If the proposal turns into an enforceable understanding, the Strait of Hormuz may become the first gateway to de-escalation. If talks collapse, the same waterway could become a new pressure point for the global economy.
