Iran temporarily closes Strait of Hormuz during live-fire drills amid indirect US-Iran talks in Geneva

Key facts

• Iran announced the temporary closure of the Strait of Hormuz on Tuesday for live-fire exercises conducted by the Iranian Revolutionary Guard.
• The Strait of Hormuz, through which 20% of the world’s oil passes, was stated to be closed for several hours for safety and maritime concerns.
• Indirect talks between the United States and Iran over Iran’s nuclear programme took place in Geneva on Tuesday, marking the second round of such negotiations.
• US envoys Steve Witkoff and Jared Kushner led the US delegation at the indirect talks held at the residence of the Omani envoy to Geneva.
• Iranian Foreign Minister Abbas Araghchi expressed optimism, stating a new window has opened for reaching a negotiated solution.
• US Vice President JD Vance said the talks went well in some ways but noted Iran had not yet acknowledged US red lines.
• Iran last closed the strait during the Iran-Iraq war in the 1980s by mining the waterway.
• Oil prices fell after the talks, with US oil down 1.3% at $62.06 per barrel and Brent crude down 2.3% at $67.03 per barrel.
• The US has increased its military presence in the region, with aircraft carriers USS Abraham Lincoln and USS Gerald R. Ford deployed towards the Middle East.