Iran says final deal still far off as Hormuz Strait shuttered

The Strait of Hormuz remained closed on Sunday in the stand-off between Iran and the United States, with Iran's powerful speaker of parliament signaling a final peace deal was "far" off despite movement in negotiations.

As mediation efforts continued following high-level talks in Pakistan that failed to reach a deal, Iran said it would not reopen the crucial maritime trade route until the United States ended its blockade of Iranian ports.

Mohammad Bagher Ghalibaf, speaker of the Iranian parliament, said in a televised address on Saturday night that there had been "progress" with Washington, but there are many gaps and some fundamental points remain."

"We are still far from the final discussion," said Ghalibaf, one of Tehran's senior negotiators in the talks aimed at ending the war launched by Israel and the United States against the Islamic Republic.

A two-week ceasefire is set to end on Wednesday unless it is renewed.

U.S. President Donald Trump said "very good conversations" were going on with Iran but warned Tehran against trying to "blackmail" the United States.

On Friday, Tehran had declared the Strait of Hormuz, through which a fifth of the world's oil and liquefied natural gas usually transits, open after a temporary ceasefire was agreed to halt Israel's war with Hezbollah in Lebanon.

That prompted elation in global markets and sent oil prices plunging, but Tehran reversed course after Trump insisted the U.S. blockade of Iranian ports would continue until a final deal was struck.

"If America does not lift the blockade, traffic in the Strait of Hormuz will definitely be limited," Ghalibaf said.

Trump accused Iran of getting "a little cute" with its recent moves and warned Tehran not to try to "blackmail" Washington by flip-flopping on the strait.

"We have very good conversations going on," the president told reporters at the White House, adding that the United States was "taking a tough stand."

AFP