Iran privately weighs letting Europe clear Hormuz mines

Iran is privately considering allowing European nations to participate in removing mines from the Strait of Hormuz, a potential concession that could help broker a broader agreement to normalize shipping through the critical waterway, according to Bloomberg.bloomberg

The reported shift comes as diplomatic efforts intensify ahead of a Tuesday deadline set by President Donald Trump, who has threatened devastating air strikes if Iran fails to reach an agreement to reopen the strait. U.S. Treasury Secretary Scott Bessent told CNBC on Tuesday that the United States could have a deal with Iran "today or tomorrow" to reopen the Strait of Hormuz with freedom of movement for commercial ships.cnbc

A Private Softening

In public, Iran has repeatedly insisted it will not permit foreign countries to assist with demining in the strait. But in private meetings in recent weeks, Tehran has softened that position, according to diplomats familiar with the matter cited by Bloomberg. The potential climbdown could form part of a deal to normalize shipping and ease broader peace negotiations with the United States.bloomberg

Iran's foreign ministry spokesperson Esmail Baghaein said Monday that Tehran is not negotiating directly with Washington. "Our negotiations are with Oman and are focused on reaching an understanding on a route that will ensure the safe passage of shipping through the Strait of Hormuz," he said.cbsnews

Market Reaction

Markets responded swiftly to the growing optimism. Oil prices slid as traders began pricing in a lower probability of further escalation in the Gulf, while U.S. equity futures moved higher and the dollar weakened. The prospect of a reopening encouraged investors to unwind some of the geopolitical risk premium that had built up during months of crisis.investinglive

The Strait of Hormuz, a critical transit point for global oil and liquefied natural gas shipments, has been largely blocked by Iran at various points since February 2026. A June deal between the U.S. and Iran led to a partial reopening, with dozens of ships transiting the waterway, but the demining challenge has remained unresolved. Estimates suggest approximately 80 mines remain in the strait.chathamhouse+2

Deadline Looms

Trump has said the U.S. will hold off on fresh attacks as long as a deal can be reached quickly. Qatar has been circulating draft language for a potential agreement aimed at restoring maritime traffic, while Oman has served as a key intermediary for Iran's negotiations. Whether Tehran's private flexibility on European demining translates into a formal agreement remains uncertain, with Iranian officials continuing to send mixed signals about the scope and pace of any deal.reuters+1