Iran Locks Hormuz Behind Seven Conditions as Tanker Attacks Continue
Iran will keep the Strait of Hormuz closed until Washington accepts seven conditions tied to the Islamabad memorandum, parliament speaker Mohammad Bagher Ghalibaf said on Sunday. Two more tankers were hit near Oman and inside the strait over the weekend.
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The US rejected Tehran's reopening plan last week, so no deal is on the table. The strait carries about a fifth of global oil and gas in peacetime. For India, a heavy crude importer, it links directly to fuel costs, inflation and the rupee, two days before the RBI rate decision.