Archive · 5 Aug 2026
US Hopes For Strait of Hormuz Deal 'Today Or Tomorrow'
Countries are fighting, but they might make a deal very soon.
The deal is about a very important waterway called the Strait of Hormuz, where many ships carry oil and energy.
Scott Bessent, a top American leader, said a deal could come 'today or tomorrow.'
This comes after President Trump warned Iran about a very big military attack, one of the largest since World War II.
Bessent also said Iran's air force and navy have been 'wiped out.'
Iran's president, Masoud Pezeshkian, said Iran does not want more conflict but will defend its country.
Trump said countries like Saudi Arabia, the UAE, and Qatar asked the US to try talking before striking.
Mediators in Oman reportedly finished a draft agreement, so the talks are in their final stage.
Meanwhile, a cargo ship from India sank in the Red Sea after an attack, but all 14 crew members were rescued.
US Treasury Secretary Scott Bessent said Washington could reach a deal with Iran to reopen the Strait of Hormuz 'today or tomorrow.'
CNN-News18 reported, citing a top diplomatic source in Oman, that mediators have finalised a draft agreement and indirect US-Iran talks have entered the 'final stage.'
Bessent said President Trump last week threatened what would have been one of the largest military campaigns since World War II against Iran.
Iranian President Masoud Pezeshkian said Tehran is not interested in stoking regional conflict but will uncompromisingly safeguard its sovereignty.
An Indian-flagged cargo vessel sank in the Red Sea after being struck by an explosives-laden boat off Yemen; all 14 crew members, including 13 Indians, were rescued.
- Who
- US Treasury Secretary Scott Bessent, US President Donald Trump, Iranian President Masoud Pezeshkian, and mediators in Oman.
- What
- Negotiations over a possible deal to reopen the Strait of Hormuz amid an ongoing US-Iran conflict.
- When
- Early August 2026 — Bessent spoke on Tuesday, August 4, 2026, with updates published on August 5, 2026.
- Where
- Washington DC and Tehran, with indirect talks mediated through Oman over the Strait of Hormuz.
- Why
- To end the five-month US-Iran conflict and restore shipping through the strategically vital waterway for global energy supplies.
Diplomacy and De-escalation
Ultimatums and Military Pressure
Who pushed for talks
Diplomacy and De-escalation
Iranian President Masoud Pezeshkian said Tehran is not interested in stoking regional conflict and will 'uncompromisingly' safeguard its sovereignty.
Ultimatums and Military Pressure
President Trump said negotiations are happening at Iran's request and were backed by Saudi Arabia, the UAE, and Qatar after Iran was given a 'last chance' to reach an agreement.
State of Iran's military capabilities
Diplomacy and De-escalation
Iran asserts it will firmly safeguard its sovereignty against outside pressure, resisting any compromise on its defense.
Ultimatums and Military Pressure
US Treasury Secretary Scott Bessent claimed Iran's air force and navy have been 'wiped out' and substantial portions of its missile arsenal destroyed.
- Possible deal timeline
- 'Today or tomorrow', per US Treasury Secretary Scott Bessent speaking on Tuesday, August 4, 2026
- Talks status
- Draft agreement finalised; indirect talks in 'final stage' per a diplomatic source in Oman (CNN-News18)
- US Treasury Secretary
- Scott Bessent
- US President
- Donald Trump
- Iranian President
- Masoud Pezeshkian
- Conflict duration
- Five months
- Military readiness concern
- US Army has depleted much of its long-range precision missile stockpile, including ATACMS and PrSM (Reuters)
- Red Sea incident
- Indian-flagged cargo vessel sank off Yemen; all 14 crew rescued (13 Indians, 1 Yemeni)
