Iran loses money but suddenly raises the stakes
Iran claims full control over the Strait of Hormuz amid a record collapse of the rial and the resignation of the oil minister. Tehran has set seven conditions for restoring shipping, including the cancellation of hostile measures. The US states that Iran did not load crude oil onto tankers in September.
Iranian military and officials have declared full control over the Strait of Hormuz while simultaneously presenting seven conditions for restoring shipping. Brigadier General Aziz Jafari, commander of the Khatam al-Anbiya Joint Air Defense Headquarters, stated that all movements in the strait area are under the control of the Islamic Republic's armed forces. Chief of General Staff Major General Ali Abdollahi warned that a new war against Iran would 'engulf everyone.' Foreign Minister Abbas Araghchi informed foreign ambassadors that the conflict has no military solution and stated the possibility of fully opening the strait and restoring shipping within seven days if Tehran's conditions are met. Parliament Speaker Mohammad Bagher Ghalibaf clarified that Tehran has received proposals from Washington through intermediaries but will not accept unilateral demands—until the seven conditions based on the Islamabad Memorandum are met, the strait will not open. Amid this, Oil Minister Mohsen Paknejad resigned, officially due to 'family and personal circumstances.' US Treasury Secretary Scott Bessent stated that Iran did not load crude oil onto tankers in September. President Masoud Pezeshkian admitted in August that the blockade disrupts supplies. The dollar exchange rate on the unofficial market reached a record 270,000 tomans, and the euro exceeded 300,000 tomans. UKMTO records at least one attack per day in the strait or the Gulf of Aden since October 2.