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Iran mission to UN says only viable solution in the Strait of Hormuz is clear: a permanent end to the war, the lifting of the maritime blockade, and the restoration of normal passage.

Iran's latest statement to the UN highlights the ongoing tensions in the Strait of Hormuz and outlines their stance that only a permanent end to the war and the lifting of the blockade will ensure maritime security.

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Iran mission to UN says only viable solution in the Strait of Hormuz is clear: a permanent end to the war, the lifting of the maritime blockade, and the restoration of normal passage.

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Iran and the US are working with mediators to hammer out a one-page, 14-point memorandum of understanding that would lay out a framework for a monthlong period of talks to end the war, via WSJ citing sources

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  • Adds, US is pushing a flawed, politically motivated UN Security Council draft resolution under the pretext of “freedom of navigation” to advance its political agenda and legitimise unlawful actions, not to resolve the crisis.
  • Iran calls on Member States to act on the basis of logic, fairness and principle, not pressure, reject the draft, and refrain from supporting or co-sponsoring it.
Context

This situation could elevate geopolitical risks, impacting oil prices and potentially putting additional pressure on currencies tied to commodity exports, notably in the USD and JPY. Traders should monitor how global assets, especially energy and metals, react to further developments in this high-stakes dialogue.

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