Bessent: US-Iran ceasefire deal possible within 48 hours, Strait of Hormuz to reopen
US Treasury Secretary Scott Bessent said a 30-60 day truce could be agreed on 7 or 8 August, with the Strait of Hormuz opened, as Washington maintains economic and military pressure.
US Treasury Secretary Scott Bessent stated in a 12News interview that Washington and Tehran could conclude a ceasefire agreement within one to two days, potentially on 7 or 8 August. The arrangement would last 30 to 60 days and include the reopening of the Strait of Hormuz, a critical global energy transit route.
Bessent said the United States continues to apply both military and economic pressure through operations dubbed “Epic Rage” and “Economic Rage.” He assessed that Iran is under severe economic strain, with food inflation reaching 150–180 percent and an inability to pay its military forces. The secretary added that the Strait of Hormuz “will never be the same” because Iran had used it as a choke point, and that some energy flows may in future be rerouted via alternative corridors. President Donald Trump separately told journalists he was satisfied with the progress of negotiations and expected a swift resolution.
Viewed from Tehran, the diplomatic opening includes specific conditions. The National reported on 7 August that Iran had proposed discussing the lifting of US sanctions in exchange for guarantees of unimpeded commercial passage through the Strait. Those terms could be incorporated into a broader peace agreement to be negotiated after a temporary 60-day transit-regulation deal. On 5 August, Iran’s foreign ministry spokesman said Iran and Oman had agreed on geographical coordinates for a new safe shipping route through the waterway. According to the same report, the United States is at least considering lifting the naval blockade and easing restrictions on Iranian oil exports as part of a possible accord.
A previous memorandum of understanding agreed in June had already envisaged a 60-day truce during which the two sides were to finalise the parameters of a permanent peace settlement. That memorandum, details of which were published by Kommersant, included an immediate cessation of hostilities on all fronts, the lifting of the naval blockade, and the provision of no less than $300 billion for Iran’s reconstruction and economic development. Fighting resumed in early July and continued until the end of the month, after which Trump postponed planned strikes on Iran’s energy infrastructure and announced a return to negotiations.
The prospective ceasefire would be an interim measure, with talks on a lasting agreement to follow. No formal announcement has yet been made, but Bessent’s remarks signal that a short-term truce and the reopening of the Strait of Hormuz are expected imminently.
| Arab Gulf press | −0.40 | critical |
|---|---|---|
| Russian & CIS press | −0.70 | critical |
| Iranian & allied press | −0.20 | neutral |
| Atlantic / Anglosphere press | +0.30 | aligned |
The deal is an economic surrender imposed by the US, which holds Iran by the throat with devastating inflation and an absolute nuclear veto.
A hierarchy of threats is constructed: US economic pressure is presented as the direct cause of Iran's surrender, while the nuclear issue is the non-negotiable red line.
The destruction of Iran's air and naval forces by the US and Israel, cited in the Russian and Atlantic blocs, is not mentioned.
The deal is a forced capitulation: the US boasts of having destroyed Iran's air force and navy and holding Iran by the throat with economic starvation.
Escalation is symmetrized: US and Israeli military force is presented as the sole reason for the ceasefire, denying any Iranian autonomy.
The possibility of a negotiated deal or Iranian willingness to negotiate, present in the Iranian bloc, is not reported.
The deal is a technical, imminent possibility, described in a bureaucratic and neutral tone, without emphasis on external pressure.
The Iranian state is personified as a rational actor evaluating timing and terms, minimizing the dimension of coercion.
The destruction of Iran's armed forces and the 150-180% inflation, central in the Russian and Gulf blocs, are not mentioned.
The deal is a victory of US pressure, which brought Iran to the negotiating table for regional and global stability.
The agreement is reprojected as a positive outcome of the US pressure strategy, emphasizing benefits for all and minimizing the dimension of Iran's defeat.
The destruction of Iran's armed forces and the 150-180% inflation, central in the Russian and Gulf blocs, are not mentioned.
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