Trump turns down Iran's Hormuz offer as Tehran points to June agreement

Pinned summary · as of 06:03

US President Donald Trump has refused an Iranian offer to reopen the Strait of Hormuz, the narrow sea lane that has been shut since February. Iran's Foreign Minister, Abbas Araghchi, replied that the terms for a settlement were already fixed in a memorandum of understanding (MOU) signed in June.

What we know

• Both The Ghana Report and MyNewsGH said Mr Trump turned down what Tehran offered over the Hormuz waterway and called the deal unacceptable.
• Mr Araghchi maintained that Iran's position was already laid down in the June MOU, and he said the next move now belongs to Washington, as relayed by both The Ghana Report and MyNewsGH.
• Iranian President Masoud Pezeshkian indicated that Tehran remains willing to go forward on the basis of the MOU, with MyNewsGH adding that he spoke of doing so in stages.
• The waterway has stayed shut since February, when the conflict began. In normal times, about one-fifth of global oil and gas cargoes pass along this route.

What's disputed / unconfirmed

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  MyNewsGH reported that Mr Trump wants a deal within seven days, whereas The Ghana Report attributes the seven-day timeframe to Iran's side, quoting Mr Araghchi on restoring normal passage within a week if conditions are met. The two accounts of who set the deadline differ.
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  The Ghana Report said Mr Trump told reporters that Iran is losing badly and wants an immediate deal, and that the US already has total control of the strait. These remarks have not been carried elsewhere.
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  According to The Ghana Report, the Wall Street Journal cited unnamed officials as saying Mr Trump doubts Iran will meet his demands and regards renewed bombing as probable. No other report backs this up.
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  The Ghana Report cited Kpler, via Reuters, as putting recent traffic through the strait at about 18 transits a day over 10 days, dipping to nine vessels on some days. Only that report gives the figure.
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  The Ghana Report said Mr Trump told the UN General Assembly he expects a deal with Iran after the November elections, and quoted Mr Araghchi as saying peace cannot come from threats of annihilation. Neither remark appears in other reports.
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  MyNewsGH reported that Mr Araghchi said Tehran was waiting for mediators to pass on Washington's definitive views before deciding its next step, and that a negotiated agreement was the only way to end the conflict. Mr Pezeshkian also asked for assurances that the US does not aim to topple Iran's government, and Oman urged continued dialogue.
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  The Ghana Report said the Houthis in Yemen have stepped up attacks on Saudi oil facilities and seized parts of Yemen's Red Sea coast, including Mokha, and that a Saudi-led coalition said it intercepted two ballistic missiles and drones. It also relayed US media claims that Saudi leaders asked Mr Trump for military help. These points are not confirmed by other reports.
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  The Ghana Report said the June MOU, meant to secure a ceasefire and partly reopen the strait, collapsed once both sides resumed strikes, and that Iran and the US have each attacked vessels or sites since. This account has not been corroborated elsewhere.
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  MyNewsGH linked the closure to higher oil and fuel prices, while The Ghana Report described wild swings in energy prices. Neither effect has been measured in the reports.

Why it matters for Ghana

Ghana imports refined fuel, so a long shutdown of a route that carries a fifth of world oil and gas can push up pump prices and, in turn, trotro fares and the cost of goods carried to markets in Accra, Kumasi and Tamale. Higher energy costs also complicate the Bank of Ghana's work on inflation and the cedi.