Iran has vowed the Strait of Hormuz will remain closed until the United States satisfies seven specific conditions outlined in a June interim agreement, Iranian parliament speaker Mohammad Baqer Qalibaf announced.
The closure of the key strait in the Persian Gulf has led to huge spikes in global oil prices, with shortages seeing the cost of diesel rise above £2 for the first time in the UK last week.
G7 leaders, in a bid to curb rising costs and under pressure from US President Donald Trump, agreed to release 100million barrels of diesel and crude oil from their emergency reserves on Friday.
Today Iran’s parliament speaker Mohammad Baqer Qalibaf warned that the strait is set to remain closed until the US agrees to its terms.
He said: ‘The Americans, who say something different in the media, have recently put forward proposals through a mediator.
‘But they must understand that the period of dragging out the process and dictating one-sided demands is over.
‘The position of the Islamic Republic of Iran is completely clear and firm, and the Strait of Hormuz will not be opened until our seven conditions, based on the Islamabad Memorandum of Understanding, are met.’
