Iran says Hormuz could reopen in two days if its demands are met; China backs Tehran, oil prices fall

Iran has said the Strait of Hormuz could be reopened again within two days if the United States meets its demands. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said this at a weekly press briefing in Tehran on Monday.

According to him, the basis for any indirect talks through mediators would be the seven-point plan Iran put forward last September. He said that as a gesture of goodwill, that timeframe has now been shortened to two days. According to Iran's IRNA news agency, Foreign Minister Abbas Araghchi said talks are continuing in Doha, Qatar, but no final agreement has been reached.

Iran has demanded the lifting of sanctions, a reduction in the US military presence in the region, the restoration of exemptions on oil exports, and the release of frozen funds.

Meanwhile, Chinese Foreign Minister Wang Yi met Ali Bagheri Kani, an official of Iran's Supreme National Security Council, in Beijing and voiced support for Iran's sovereignty and security. President Xi Jinping, meeting Oman's Sultan Haitham bin Tariq Al Said, said the Middle East must not become an arena for rivalry among major powers.

According to Reuters, international crude oil prices fell by more than 4 percent on Monday amid hopes of progress in the talks. The talks between Iranian and Qatari officials follow a rise in attacks on oil tankers passing through the Strait of Hormuz.