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Iran’s Foreign Minister Abbas Araghchi said that responsibility for the Strait of Hormuz lies solely with Tehran and warned that any attempt to bypass its preferred route in the waterway will cause “tension and escalation,” Aljazeera reported on Monday.
Last Sunday, the US and Iran agreed to halt attacks and meet in Doha, Qatar, on Tuesday to resolve their dispute over the Strait of Hormuz, the Axios news site reported. US officials stated that Wasington and Tehran “will stand down for now” following an exchange of fire near the critical waterway over the last several days.
Elsewhere, Hezbollah accused the Israeli military of breaching the ceasefire in Lebanon by launching several attacks across southern areas on Sunday. “We are monitoring and observing these violations [of the ceasefire agreement] and reserve our right to defend our homeland and people,” the statement added.
Lebanese Parliament Speaker Nabih Berri said that the trilateral framework agreement between Lebanon, Israel and the US “will not pass” and “will not be implemented” as it does not guarantee Lebanon’s rights.
Market reaction
At press time, the WTI Oil price trades 0.48% lower at around $69.80.
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