Iran insists it controls Hormuz as rial hits record low and exports dry up

AI Summary

Iran says it retains control of the Strait of Hormuz and that the waterway could reopen within seven days if Tehran’s conditions are met. The statements came amid a record-low rial and reports that Iran had not loaded crude onto tankers in September, highlighting pressure on its exports.

Iran’s military insisted it retained full control of Hormuz and the foreign minister said the strait could reopen within seven days if Tehran’s conditions were met, after US Treasury Secretary Bessent said Iran had not loaded a single barrel of crude onto tankers in September. Iran’s military said on Monday it retained full control over ...