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US offered Iran $100 billion to lift blockade on Strait of Hormuz

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Tehran has so far refused the offer, which would have seen part of the $100billion in Iranian funds held abroad unfrozen

10:48, 03 Jul 2026Updated 10:59, 03 Jul 2026

The United States has offered Iran $100 billion to abandon its persistence in charging tolls for ships to pass through the Strait of Hormuz.

This comes as the US and Oman are exploring ways to lessen Iran's insistence, with their main leverage being a promise to unfreeze part of the $100billion in Iranian funds held abroad. Tehran has refused the offer, however, reports The Wall Street Journal.

Yesterday, Kazem Gharibabadi, Iran's negotiator and deputy foreign minister, insisted the strait is "under Iran's command", not the US's. Tehran also warned that any vessel not following a route approved by Iran would face "immediate and powerful" action.

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