Tehran’s new demands for major concessions come days after the White House had signaled a deal to clear commercial passage was within reach.

When Kevin Hassett stumbled to defend himself, CNN’s Jake Tapper hurled his previous comments back in his face.

In June, Iran and the US signed a Memorandum of Understanding (MoU), aiming to stop fighting, reopen the Strait of Hormuz, and reach agreement to end the war within 60 days. The deal quickly fell through, as did diplomatic talks, with tit-for-tat attacks resuming just days after the MoU was signed.

The waterway, crucial to global supplies of oil and natural gas, will not open until the United States “corrects its behavior,” the Supreme National Security Council said.

Treasury Secretary Scott Bessent sits down with 12News journalist Mark Curtis in Arizona for an interview. REPORTER: There are some who have speculated the Strait will never go back to being the way it was before.

The head of Iran’s Supreme National Security Council said that the Strait of Hormuz would remain closed until the United States met certain conditions.

Iran replaced its top security official with another Islamic Revolutionary Guards Corps commander, a spokesman for Iranian Masoud Pezeshkian said.

There are competing routes through the strait and what’s on the table appears to involve merging them – with Iran retaining a level of control that would be at odds with US wishes.

Former JCPOA negotiator and Middle East Institute's Alan Eyre says Iran has gained the strategic advantage in the Strait of Hormuz despite U.S. military dominance, as Washington focuses on reopening the key waterway and preventing further escalation.