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In September, oil exports from the Gulf region reached levels almost similar to those before the start of the American-Israeli war against Iran. U.S. President Donald Trump promised a price drop as soon as the Iranian threat to the Strait of Ormuz would no longer have as much effect on oil flows. That's not what's going on.
Tehran hopes to obtain on Tuesday an official response from Washington regarding its proposals on the reopening of the Strait of Ormuz. Iran requires, inter alia, a seven-day ceasefire throughout the Middle East, the thawing of its assets held abroad and the lifting of sanctions against its oil sector.
On Monday, a ship was targeted by an "unknown projectile" in the Strait of Ormuz, causing two light injuries, a few hours after the Iranian Revolutionary Guards threatened to use "new weapons" and to target "new targets" in the event of an American attack.
About 12 per cent of world trade in oil by sea through the Bab al-Mandeb Strait. As the Strait of Ormuz is heavily disrupted by the war, Iran's allies threaten to further disrupt world trade by closing this second crucial maritime route in the Middle East.
