Iran Demands "Fair" Deal in Ending Epic Fury

Iran said Wednesday it would accept a peace agreement only if it was “fair,” after US President Donald Trump paused a naval mission meant to reopen the Strait of Hormuz to commercial shipping.

Trump announced Tuesday that Project Freedom, the US Navy operation escorting vessels through the strait, would be paused for a “short period of time” following what he described as “great progress” in negotiations with Iran. He said the pause was reached by mutual agreement, while stressing that the US blockade of Iranian ports would remain in effect.

The mission, launched Sunday, had not led to a major resumption of commercial traffic through the waterway. Instead, it coincided with a renewed wave of Iranian attacks on ships in and around the strait and on targets in neighboring Gulf states.

In the latest incident, a French shipping company said Wednesday that one of its container ships was struck in the strait the previous day and that injured crew members had been evacuated.

Iranian Foreign Minister Abbas Araqchi, speaking during a visit to China, did not directly address Trump’s announcement but said Tehran was seeking “a fair and comprehensive agreement.” He also said he had spoken with Saudi Arabia’s foreign minister and emphasized regional diplomacy to prevent further escalation.

The Strait of Hormuz has been largely closed to non-Iranian shipping since February 28, when the United States and Israel launched airstrikes against Iran. Iran responded by effectively shutting the waterway, one of the world’s most important energy routes. In April, Washington imposed a separate blockade on Iranian ports.

Trump launched Project Freedom after indicating he was likely to reject Iran’s latest proposal, which called for postponing discussion of nuclear issues until after the war ends and the shipping dispute is resolved.

During the three days the mission was active, Iranian drones and missiles struck several ships, including a South Korean cargo vessel that reported an explosion in its engine room. Iran also struck targets in the UAE, including a major oil port outside the strait. The US Navy said it hit several small Iranian boats on Monday.

Following Trump’s announcement that the mission would be paused, Brent crude oil futures fell about 1.7 percent, dropping below $108 a barrel.

The White House did not immediately say what progress had been made in talks or how long the pause would last. Secretary of State Marco Rubio and other senior US officials had said earlier Tuesday that Iran could not be allowed to control traffic through the strait.

Trump told reporters Tuesday that Iran wanted peace and said its military capability had been sharply reduced. The continuing conflict has placed pressure on the administration ahead of November’s midterm elections, as higher fuel prices affect American voters.