Mohammad Bagher Ghalibaf, Iran's chief negotiator and speaker of the Parliament, said that Washington had put forward "some proposals through a mediator" after Tehran had indicated a seven-day timetable for reopening the Strait of Hormuz. However, he emphasized, the US must know "that the era of wasting time and imposing unilateral demands is over," that Iran's position remains "clear and defined," and that "the Strait of Hormuz will not be reopened until our seven conditions based on the Islamabad Memorandum are met."

Meanwhile, the effects of the Hormuz crisis continue to be felt economically.

Since the start of the conflict in Iran, rising energy prices have forced Italian families and businesses to pay €16.5 billion more than the average prices in February. This estimate, updated as of September 30, is from the National Agency for Energy and Natural Resources (CNA). Nearly half of the increase, between €7.4 and €7.6 billion, is related to fuel. Electricity follows, with €5.8-€6 billion, and gas, with €3-€3.3 billion. September alone generated an additional bill of between €4.6 and €5.2 billion.

(Unioneonline)

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