Iranian President Masoud Pezeshkian has called for ending the current conflict with the United States, arguing that Iran currently holds strategic leverage and global recognition, according to a report by the semi-official Iranian Students’ News Agency.

This statement aligns with positions previously held by Foreign Minister Abbas Araghchi and other officials advocating for diplomacy following the collapse of a prior ceasefire, while U.S. Treasury Secretary Scott Bessent is reported to be preparing new economic sanctions.

An Arabic-language headline posits that Iran may be preparing for a potential escalation, although this remains an unverified assertion. The reference to ongoing diplomatic efforts suggests a context of continued regional engagement, but specific preparations for conflict have not been independently confirmed.

Iran stated on Tuesday that the Strait of Hormuz "will not be opened" until U.S. commitments, such as lifting sanctions and releasing frozen assets, are fulfilled, while President Trump asserted that the strait remains open and operational under a continued U.

S. naval blockade. Independent reporting from CNN indicates that despite competing official claims, evidence suggests the United States maintains significant control over the waterway via naval patrols.

Hormuz traffic slows as uncertainty over waterway persists Hormuz traffic slows as shipowners avoid Strait amid Iran war uncertainty, with fewer vessel transits and conflicting claims on reopening, impacting global oil and LNG shipments SINGAPORE: Shipping through the Strait of Hormuz slowed, data showed on Wednesday, as most shipowners avoided the key waterway because of a lack of clear signalling on its reopening from a blockade during the Iran war.

Six commodity vessels crossed the strait on Tuesday, Kpler data showed by 0258 GMT, down from nine a day earlier and below the 10-day daily average of 11. Inbound traffic included an empty very large crude carrier that followed the Omani side of the strait, as well as two tankers, one of medium-range and the other intermediate, the data showed.

Two medium-range fuel tankers and a post-Panamax vessel exited the strait. On Tuesday, U.S. President Donald Trump said no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran's assertion that it remained shut to shipping.

The waterway handled a fifth of the world's shipments of crude oil and liquefied natural gas before the war. As security concerns curb oil shipments to the world's largest importer, two Chinese shipping giants that used to carry half its imports of Middle Eastern oil before the war have kept their tankers out of the Strait of Hormuz and Bab al-Mandeb since late July, say tanker tracker Vortexa and a ship broker.

At the Bab el-Mandeb strait on the Red Sea, where Yemeni Houthis declared a naval blockade on Saudi Arabia on July 20, Kpler data showed 30 weekend transits by commodity vessels, up from 19 in the prior week.