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American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

Money

Iran demands U.S. concessions before reopening key oil shipping route

A2D News Desk

Iran laid out a broad set of demands to the United States as a condition for reopening the Strait of Hormuz, dampening expectations that talks with Oman would quickly restore commercial tanker traffic through the oil chokepoint.

The demands include lifting a naval blockade, ending sanctions, withdrawing U.S. forces from the region, paying war reparations, releasing frozen Iranian assets and halting threats against Iranian leadership. Iranian officials said navigation talks with Oman are separate from the political conditions for reopening the passage.

The strait handles about 20% of global oil and gas shipments. The continuing impasse threatens to extend energy supply disruptions and keep upward pressure on fuel prices and global inflation.

Read the full story at hellenicshippingnews.com.

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