Iran says the Strait of Hormuz stays shut until seven conditions are met
Iran's parliament speaker and chief negotiator Mohammad Bagher Ghalibaf said on Sunday 4 October that the Strait of Hormuz stays closed until seven conditions are met (Gulf News, L'Orient Today, Oman Observer, Qatar Tribune). The conditions link to a June interim agreement and reportedly include ending the US naval blockade and freeing frozen assets. He did not detail them. Reports say Trump rejected an offer to reopen within seven days but left indirect talks open. Qatar is mediating.
About a fifth of the world's oil passes through the strait, and New Zealand imports all its refined fuel.
Expect pump prices to stay high while crude stays near US$100.
Iran says the closure is leverage until its conditions are met.
The US and allies call it an unlawful blockade of a shipping lane.
Details of the seven conditions differ between reports, so treat lists as unconfirmed.
DailyDrop New Zealand edition No. 1 · Morning · MON., OCT. 5, 2026