Middle East war live: Stocks tumble as Trump and Iran threaten retaliation

Iran’s foreign minister Abbas Araghchi said the reopening of the Strait of Hormuz depends on freedom of trade for all countries, as the Islamic republic seeks the lifting of sanctions as part of any deal to end the conflict.

Iran is subject to a wide range of international sanctions which have crippled its economy.

“The Strait of Hormuz is not closed. Ships hesitate because insurers fear the war of choice you initiated — not Iran,” Araghchi said in a post on X. “Freedom of Navigation cannot exist without Freedom of Trade. Respect both — or expect neither.”

Meanwhile, Araghchi wrote to UN Secretary General António Guterres and called for Israel’s nuclear programme to be included in the international Treaty on the Non-Proliferation of Nuclear Weapons, and for its attacks on other countries’ nuclear sites to stop.

Araghchi added that during the current conflict at least three US-Israeli attacks had taken place on the Natanz nuclear facility, with one hitting a spot just 350 metres away from the Bushehr nuclear power plant.