from HellsBelle@sh.itjust.works to world@lemmy.world on 27 Mar 14:16
https://sh.itjust.works/post/57504251
Four weeks into a war that was going to take four days, and that has so far cost the US about $30-40bn and Israel $300m a day, Washington is further away from a diplomatic agreement with Iran than it was in May 2025.
Not only has the war failed to persuade Iran to agree to dismantle its nuclear programme in the comprehensive and irreversible way the US demanded in a 15-point paper that it tabled on 23 May last year, Washington is now having to negotiate to reopen the strait of Hormuz, a strategic waterway that has been open ever since the invention of the dhow, with a short exception of a tanker war in the 1980s between Iran and Iraq.
This regression is proving to be perplexing for the American high command. Pete Hegseth, the secretary of defence, recently said that “the only thing prohibiting transit in the strait right now is Iran shooting at shipping”, but this was not quite right. Iran has not been shooting at shipping that much in recent weeks. Instead, it is the fear of Iran shooting at shipping that is scaring off insurers and tanker owners.
Still worse from the US perspective, Iran has set up a waterside stall whereby prime ministers and tanker owners can bargain with the Iranian navy over the toll they are willing to pay for their tankers to be given “free passage”. Iran plans to turn the strait into a money spinner, just as Egypt charges for access to the Suez canal. By some calculations, given the massive scale of the traffic that passes through the strait each year, Iran could raise $80bn a year. If a law currently being rushed through the Iranian parliament passes, tankers carrying oil from favoured non-hostile nations such as India, Japan, Pakistan, South Korea and China will be waved through or offered cheaper rates.
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