Iran has offered to end its chokehold on the Strait of Hormuz without addressing its nuclear program, according to officials with knowledge of the proposal. The offer, communicated to the United States via Pakistan, also calls for Washington to lift its blockade of Iranian ports, two regional officials said on condition of anonymity.
The proposal is unlikely to gain support from US President Donald Trump, who insists on a comprehensive deal that includes Iran's atomic program. Trump stated on Fox News, 'We have all the cards. If they want to talk, they can come to us, or they can call us.'
Oil Prices Rise Amid Ongoing Standoff
Oil prices increased on Monday as the standoff between the US and Iran over the Strait of Hormuz continued despite a ceasefire. Pakistan is attempting to revive stalled negotiations between the two nations. Iran's Foreign Minister Abbas Araghchi traveled to Russia for a meeting with President Vladimir Putin, part of a trip that also included stops in Pakistan and Oman.
Pakistan-led mediators are working to bridge significant gaps between the US and Iran, according to a regional official involved in the mediation. Trump canceled plans for his top envoys to travel to Islamabad for negotiations after Iran insisted on the lifting of the US blockade before new talks.
US Blockade and Regional Casualties
The US military's Central Command reported that it has turned around 38 ships during the blockade since early Monday. Since the war began, at least 3,375 people have been killed in Iran, 2,509 in Lebanon (where Israel-Hezbollah fighting resumed), 23 in Israel, and more than a dozen in Gulf Arab states. Additionally, 15 Israeli soldiers in Lebanon, 13 US service members, and six UN peacekeepers have been killed.
Transavia Cancels Flights Over Fuel Costs
Transavia France announced it is canceling some flights in May and June due to rising fuel costs, citing 'the current geopolitical context in the Middle East and its repercussions on the price of aviation fuel.' The cancellations represent less than 2% of the company's flight program. Affected passengers can choose a voucher, full refund, or free rebooking within 24 hours.
China Opposes US Sanctions on Refinery
China expressed opposition to US sanctions on Hengli Petrochemicals, a refinery in Dalian that purchased Iranian crude oil. The measure blocks the company and others transporting Iranian oil from accessing the US financial system. Foreign Ministry spokesperson Lin Jian stated, 'China always opposes illegal unilateral sanctions that lack a basis in international law and urges the US to stop its wrong practices of abusing sanctions and exercising long-arm jurisdiction.'
Condom Manufacturer Raises Prices
Karex, the world's largest condom manufacturer, has raised prices by up to 30% due to escalating costs from the Strait of Hormuz closure, which is vital for petrochemical supplies. CEO Goh Miah Kiat cited rising costs for nitrile latex, silicone oil, and freight. Karex produces 5 billion condoms annually, with its biggest market in the US, and expects demand to rise at least 30% this year.
Iran's Proposal and Foreign Minister's Visit
Iran's offer to reopen the Strait of Hormuz without addressing its nuclear program was first reported by Axios. Foreign Minister Araghchi, in Russia, said the trip offered an opportunity to coordinate with Moscow after the war. He blamed America's 'excessive demands' for delaying negotiations. Trump has questioned who is in charge in Iran, citing confusion within its theocracy.
