U.S. President Donald Trump discussed the Iran crisis with Chinese President Xi Jinping in Beijing on Thursday, while new attacks on vessels near the Strait of Hormuz highlighted the costs of a prolonged stalemate, with peace talks remaining deadlocked. Diplomacy to end the crisis has been on hold since last week when Iran and the United States each rejected the other's latest proposals, sticking to initial demands that each considers "red lines."
After Trump and Xi met, a White House official said the leaders had agreed that the strait should remain open and that Iran must never obtain nuclear weapons. China, which maintains close ties with Tehran, is the main buyer of Iranian oil. U.S. Treasury Secretary Scott Bessent told CNBC in Beijing that he believed China would "do what they can" to help open the strait, calling it "very much in their interest."
Iran has largely closed the Strait of Hormuz to ships apart from its own since the United States and Israel launched their bombing campaign two-and-a-half months ago, causing the biggest ever disruption to global energy supplies. The U.S. paused the bombing last month but added a blockade of Iranian ports. In the latest incident, an Indian cargo vessel carrying livestock from Africa to the United Arab Emirates was sunk on Thursday in waters off the coast of Oman. India condemned the attack and said all 14 crew members had been rescued by the Omani coastguard.
In a separate incident, British maritime security agency UKMTO reported on Thursday that "unauthorized personnel" had boarded a ship anchored off the coast of the UAE's Port of Fujairah and were steering it towards Iran. Security in that area is particularly sensitive, as Fujairah is the UAE's sole oil port on the far side of the strait, allowing some exports to reach markets without passing through it. Iran included that part of the coast on an expanded map it released last week of waters it claimed were under its control.
Nevertheless, Iran appears to be making more deals with countries to allow some ships to pass through the strait if they accept Tehran's terms. A Japanese tanker crossed on Wednesday after Japan's prime minister announced she had requested help from the Iranian president. A large Chinese tanker also crossed on Wednesday, and Iran's Fars news agency reported on Thursday that an agreement had been reached to let some Chinese ships pass. Iran's Revolutionary Guards said 30 vessels had crossed the strait since Wednesday evening, still far short of the approximately 140 that typically crossed daily before the war, but a substantial increase if confirmed.
Key Takeaways:
1. Trump and Xi Jinping agreed that the Strait of Hormuz should remain open and Iran must not obtain nuclear weapons.
2. An Indian cargo vessel was sunk in an attack off Oman's coast; all 14 crew members were rescued by Omani coastguard.
3. Unauthorized personnel boarded a ship anchored off Fujairah and steered it towards Iran in a separate incident.
4. Iran is making deals with countries to allow some ships through the strait; 30 vessels have crossed since Wednesday evening.
5. U.S.-Iran peace talks remain stalled with both sides insisting on their red line demands.
