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Iranian Foreign Ministry says will not abandon talks with the US; Iran's sovereign rights over the Strait of Hormuz are non-negotiable

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As of July 20, 2026, the Islamabad MoU is strained as Iran asserts non-negotiable sovereignty over the Strait of Hormuz, shifting markets toward a 'managed instability' model with persistent risk premiums.

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Reiterates: "Determined to take the necessary measures and arrangements, in cooperation with Oman, to fully exercise its sovereignty and prevent any security threat in the Strait of Hormuz."

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