POOWELJoram Poowel Price

On August 26, Tasnim News Agency reported that Iranian Deputy Foreign Minister Karimi Babadi stated that the memorandum of understanding reached between Iran and Oman regarding the Strait of Hormuz does not mean that the strait will reopen starting tomorrow. He noted that for the past 58 years, vessels have primarily passed through Omani waters, causing significant harm to Iran. The Strait of Hormuz has now become a national security issue for Iran, necessitating adjustments to the entry and exit routes. According to the agreement, routes entering and leaving the Persian Gulf will pass through Iranian and Omani waters respectively, which he described as a 'two-way highway' approximately 7 nautical miles wide. Karimi Babadi pointed out that this waterway is temporary, and both sides will negotiate to determine a permanent route within 30 to 60 days.

On August 26, Tasnim News Agency reported that Iranian Deputy Foreign Minister Karbassian stated that the memorandum of understanding reached between Iran and Oman regarding the Strait of Hormuz does not mean that the strait will reopen starting tomorrow. He noted that for the past 58 years, ships have primarily passed through Omani waters, which has severely harmed Iran. The Strait of Hormuz has now become a national security issue for Iran, and the routes in and out need to be adjusted. According to the agreement, routes entering and leaving the Persian Gulf will pass through Iranian and Omani waters, respectively, which he described as a 'two-way highway' approximately 7 nautical miles wide. Karbassian pointed out that this waterway is temporary, and both parties will negotiate to determine a permanent route within 30 to 60 days.

On August 26, following Canadian Prime Minister Justin Trudeau's announcement of reciprocal measures against new tariffs imposed by the US, the Trump administration is discussing the implementation of further trade sanctions against Canada. A White House official revealed that the potential escalation of measures against its northern neighbor may include increased tariffs and other trade actions, with the US government expected to respond to Canada's latest moves. The official noted that President Trump has a range of tools available to address this dispute after the breakdown of US-Canada trade negotiations. Canada announced yesterday that it would impose tariffs ranging from 15% to 50% on approximately $20 billion worth of US goods; it will raise tariffs on US steel products from 25% to 50%. The Canadian government stated that starting September 8, it will impose counter-tariffs of 15%, 25%, or 50% on about 700 products.