Hormuz Strait remains closed as US‑Iran talks stall in Switzerland

Iran’s Revolutionary Guard Navy announced that the Hormuz Strait is again closed to all vessel traffic, citing violations of the cease‑fire agreement by the United States and ongoing Israeli attacks in Lebanon. The United States, represented by Vice‑President J.D. Vance, reiterated that no tolls will be levied on ships passing the strait for the 60‑day cease‑fire period and thereafter, unless the agreement is breached.

Negotiations between Washington and Tehran continued on the Burgenstock resort near Lucerne, Switzerland, with mediators from Pakistan and Qatar. The talks aimed to finalize a roadmap for a definitive peace deal, including technical work on nuclear issues, the Lebanon front and the reopening of Hormuz. Iranian chief negotiator Mohammad Bagher Ghalibaf warned of further measures if US promises are not met, while US officials said traffic continues to flow under monitoring.

The diplomatic deadlock affected markets: Brent fell about 0.9 % to $79 per barrel and U.S. WTI slipped 0.7 %, while European and Asian equity indices showed mixed reactions. The closure and the uncertainty around the negotiations underscore the broader regional tension involving the United States, Iran, Israel, Lebanon and their allies.