Iran’s parliament speaker Mohammad Bagher Qalibaf said the Strait of Hormuz will remain closed until Tehran’s conditions under a June agreement are met, dimming hopes of a quick reopening. Qalibaf made the remarks through the Nournews outlet on Sunday, saying seven conditions set out in the Islamabad memorandum of understanding must be fulfilled first. Foreign Minister Abbas Araqchi said Iran’s plan could reopen the strait within seven days if it is accepted, but warned that Tehran stands ready if Washington chooses a military option.

The strait, between Iran and Oman, carries roughly a fifth of the world’s oil and gas supplies. It has been shut since the June conflict, pushing shipping costs higher and straining global energy markets. Iranian officials have tied reopening to security guarantees and relief measures.

The United States has pressed for an immediate reopening, and the standoff remains a key driver of volatile oil prices. Analysts say each week of closure adds millions of dollars in rerouting costs for shippers.