WEBVTT

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<v Sarah>Iran <00:00:00.460>has <00:00:00.680>put <00:00:00.840>a <00:00:00.937>public <00:00:01.360>price <00:00:01.787>on <00:00:01.920>Hormuz—and <00:00:03.140>the <00:00:03.253>blockade <00:00:03.730>numbers <00:00:04.140>are <00:00:04.373>still <00:00:04.711>climbing.

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<v Sarah>If <00:00:06.829>you're <00:00:07.001>just <00:00:07.179>joining <00:00:07.609>us: <00:00:07.949>the <00:00:08.313>Hormuz <00:00:08.809>crisis <00:00:09.342>is <00:00:09.495>moving <00:00:09.822>on <00:00:10.009>two <00:00:10.318>tracks <00:00:10.756>at <00:00:10.905>once.

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<v Sarah>Iranian <00:00:12.309>attacks <00:00:12.782>on <00:00:12.942>shipping <00:00:13.409>and <00:00:13.569>a <00:00:13.729>U.S.

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<v Sarah>blockade <00:00:14.937>have <00:00:15.193>disrupted <00:00:15.813>commercial <00:00:16.319>traffic, <00:00:17.236>while <00:00:17.436>negotiators <00:00:18.299>explore <00:00:18.702>separate <00:00:19.198>routes <00:00:19.639>through <00:00:19.939>Iranian <00:00:20.649>and <00:00:21.009>Omani <00:00:21.529>waters.

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<v Sarah>Until <00:00:22.549>now <00:00:22.953>CENTCOM <00:00:23.489>had <00:00:23.657>said <00:00:24.009>44 <00:00:24.619>vessels <00:00:25.017>were <00:00:25.267>redirected

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<v Sarah>while <00:00:26.569>Tehran <00:00:27.109>pressed <00:00:27.569>for <00:00:27.749>transit <00:00:28.249>fees

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<v Sarah>sanctions <00:00:29.518>relief <00:00:30.302>security <00:00:30.802>guarantees

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<v Sarah>and <00:00:32.062>an <00:00:32.289>end <00:00:32.676>to <00:00:32.749>the <00:00:32.889>blockade.

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<v Rich>This <00:00:35.209>is <00:00:35.465>Iran <00:00:35.929>War <00:00:36.262>Daily.

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<v Rich>Tehran <00:00:37.769>has <00:00:38.062>named <00:00:38.369>its <00:00:38.546>asking <00:00:38.982>price.

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<v Rich>Now <00:00:39.982>we <00:00:40.137>find <00:00:40.389>out <00:00:40.599>whether <00:00:40.902>ships, <00:00:41.609>insurers, <00:00:42.449>and <00:00:42.589>the <00:00:42.740>region <00:00:43.389>can <00:00:43.769>live <00:00:44.121>with <00:00:44.269>the <00:00:44.409>bill.

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<v Rich>If <00:00:45.417>this <00:00:45.676>story <00:00:46.079>matters <00:00:46.596>to <00:00:46.729>you — <00:00:47.417>Hormuz-to-Red <00:00:48.489>Sea <00:00:48.800>maritime <00:00:49.434>escalation — <00:00:50.529>hit <00:00:50.729>follow.

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<v Rich>We'll <00:00:51.796>be <00:00:51.929>back <00:00:52.302>on <00:00:52.462>it <00:00:52.665>soon.

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<v Sarah>This <00:00:54.476>one's <00:00:54.708>from <00:00:54.856>The <00:00:54.978>National:

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<v Quote>Iran <00:00:56.483>is <00:00:56.620>looking <00:00:56.883>to <00:00:57.030>further <00:00:57.360>exploit <00:00:57.750>the <00:00:57.934>situation <00:00:58.537>in <00:00:58.610>the <00:00:58.716>Strait <00:00:59.043>of <00:00:59.182>Hormuz <00:00:59.790>by <00:01:00.160>seeking <00:01:00.550>sanctions <00:01:00.967>relief <00:01:01.363>in <00:01:01.523>exchange <00:01:01.990>for <00:01:02.163>agreeing <00:01:02.617>to <00:01:02.734>toll-free

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<v Quote>passage <00:01:03.817>in <00:01:03.910>the <00:01:04.078>strategic <00:01:04.563>waterway

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<v Quote>sources <00:01:05.742>told <00:01:05.890>The <00:01:06.012>National <00:01:06.537>on <00:01:06.652>Thursday.

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<v Quote>The <00:01:08.190>US, <00:01:08.686>Iran <00:01:09.110>and <00:01:09.270>other <00:01:09.526>countries <00:01:10.090>are <00:01:10.321>reportedly <00:01:10.857>in <00:01:10.930>the <00:01:11.043>final <00:01:11.379>stages <00:01:11.817>of <00:01:11.923>discussions <00:01:12.558>over <00:01:12.801>navigation <00:01:13.363>in <00:01:13.490>the <00:01:13.590>strait.

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<v Quote>Iran <00:01:15.030>has <00:01:15.182>been <00:01:15.350>attacking <00:01:15.754>shipping <00:01:16.137>in <00:01:16.210>the <00:01:16.337>waterway <00:01:16.990>in <00:01:17.177>an <00:01:17.280>attempt <00:01:17.657>to <00:01:17.767>create <00:01:18.163>leverage <00:01:18.624>during <00:01:18.850>the <00:01:18.963>peace <00:01:19.283>talks <00:01:19.612>mediated <00:01:20.137>by <00:01:20.270>Pakistan

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<v Quote>Qatar <00:01:21.670>and <00:01:21.859>others.

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<v Sarah>The National's sources put a specific Iranian demand on the table: toll-free Hormuz passage in exchange for immediate sanctions relief.

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<v Sarah>The talks may have an understanding on entry and exit routes, but they still fall short of a broader U.S.-Iran peace deal.

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<v Rich>There it is—the invoice.

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<v Rich>Iran attacks shipping, then offers a route back if sanctions come off.

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<v Rich>Insurers still need to know who guarantees a tanker gets through safely.

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<v Sarah>Pakistan, Qatar, and Oman are all working separate diplomatic channels.

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<v Sarah>One source describes a temporary Oman arrangement first, then renewed U.S.-Iran negotiations.

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<v Sarah>Pakistan has publicly tied a strait agreement to restarting technical talks.

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<v Rich>“Final stages” is a phrase negotiators love because it sounds like arrival without committing to a destination.

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<v Rich>After that, sanctions compliance, verification, and the nuclear file are all still waiting.

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<v Sarah>From <00:02:21.625>IranWire:

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<v Quote>U.S.

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<v Quote>Central <00:02:23.629>Command <00:02:24.239>(CENTCOM) <00:02:25.279>announced <00:02:25.671>that <00:02:25.852>American <00:02:26.348>forces <00:02:26.807>have <00:02:27.056>forced <00:02:27.679>48 <00:02:27.995>commercial <00:02:28.429>vessels <00:02:28.946>to <00:02:29.052>alter <00:02:29.346>their <00:02:29.548>course <00:02:30.026>since <00:02:30.379>the <00:02:30.499>resumption <00:02:31.052>of <00:02:31.179>the

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<v Quote>naval <00:02:31.621>blockade <00:02:32.146>on <00:02:32.269>Iranian <00:02:32.826>ports.

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<v Quote>Additionally, <00:02:35.039>two <00:02:35.212>ships <00:02:35.511>were <00:02:35.701>disabled <00:02:36.259>and <00:02:36.499>two <00:02:36.725>others <00:02:37.031>were <00:02:37.228>seized.

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<v Sarah>CENTCOM’s August 5 update on X puts the count at 48 diverted commercial vessels—up from the 44 we aired—plus two disabled and two seized.

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<v Sarah>Those are CENTCOM’s figures, but the change is clear: four more diversions in roughly two days.

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<v Rich>Tehran is asking for sanctions relief to allow toll-free passage, and the U.S.

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<v Rich>blockade count is still climbing.

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<v Rich>Forty-eight rerouted ships is the number insurers will price, not the word “understanding.”

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<v Sarah>IranWire says the blockade resumed under President Trump’s July 14 order after the temporary ceasefire expired.

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<v Sarah>CENTCOM also released an F-16 refuelling image, a reminder that enforcing this blockade takes sustained U.S.

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<v Sarah>air operations over regional waters.

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<v Rich>Two disabled. Two seized.

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<v Rich>That’s eight ships beyond a simple reroute problem, and it makes every word spoken around Hormuz more expensive.

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<v Sarah>From <00:03:40.550>The <00:03:40.672>Guardian:

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<v Quote>An <00:03:43.307>Israeli <00:03:43.780>airstrike <00:03:44.314>in <00:03:44.434>south <00:03:44.837>Lebanon <00:03:45.361>killed <00:03:45.627>one <00:03:45.876>person <00:03:46.347>and <00:03:46.587>injured <00:03:47.087>11

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<v Quote>the <00:03:47.931>Lebanese <00:03:48.340>ministry <00:03:48.794>of <00:03:48.881>health <00:03:49.151>said

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<v Quote>in <00:03:49.927>one <00:03:50.074>of <00:03:50.184>Israel’s <00:03:50.735>deadliest <00:03:51.220>bombings <00:03:51.687>since <00:03:51.927>the <00:03:52.100>start <00:03:52.394>of <00:03:52.467>the <00:03:52.591>June <00:03:52.903>ceasefire.

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<v Quote>Israel <00:03:54.487>carried <00:03:54.787>out <00:03:54.900>an <00:03:55.060>airstrike <00:03:55.514>in <00:03:55.607>the <00:03:55.775>town <00:03:55.994>of <00:03:56.100>Tebnine, <00:03:57.037>hitting <00:03:57.287>a <00:03:57.389>cemetery, <00:03:58.087>the <00:03:58.251>Lebanese <00:03:58.641>health <00:03:58.891>ministry <00:03:59.311>said.

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<v Rich>As <00:04:00.312>Tehran <00:04:00.790>negotiates <00:04:01.443>a <00:04:01.590>price <00:04:01.963>for <00:04:02.147>Hormuz, <00:04:03.016>southern <00:04:03.493>Lebanon <00:04:03.896>is <00:04:04.043>being <00:04:04.300>pulled <00:04:04.670>in <00:04:04.763>the <00:04:04.936>other <00:04:05.267>direction.

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<v Rich>The <00:04:06.456>Lebanese <00:04:06.917>health <00:04:07.176>ministry <00:04:07.667>says <00:04:08.003>Israel <00:04:08.563>hit <00:04:08.856>Tebnine’s <00:04:09.594>cemetery: <00:04:10.723>one <00:04:11.043>dead, <00:04:11.763>11 <00:04:12.243>hurt, <00:04:12.843>and <00:04:13.034>families <00:04:13.667>fled <00:04:14.003>al-Mansouri.

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<v Sarah>Israel <00:04:16.083>said <00:04:16.243>it <00:04:16.323>gave <00:04:16.603>a <00:04:16.686>displacement <00:04:17.256>order <00:04:17.583>roughly <00:04:18.083>30 <00:04:18.363>minutes <00:04:18.738>beforehand <00:04:19.743>and <00:04:19.963>was <00:04:20.136>striking <00:04:20.619>Hezbollah <00:04:21.176>infrastructure <00:04:22.003>over <00:04:22.393>alleged <00:04:22.947>ceasefire

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<v Sarah>violations. <00:04:24.763>The <00:04:24.927>Guardian <00:04:25.353>reports <00:04:25.896>it <00:04:26.043>was <00:04:26.220>Israel’s <00:04:26.776>first <00:04:27.107>such <00:04:27.428>evacuation <00:04:28.136>order <00:04:28.470>since <00:04:28.823>the <00:04:28.947>June <00:04:29.259>ceasefire <00:04:29.870>began.

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<v Rich>Two <00:04:31.573>Israeli <00:04:31.985>soldiers <00:04:32.515>were <00:04:32.712>killed <00:04:33.183>and <00:04:33.430>seven <00:04:33.823>wounded <00:04:34.296>in <00:04:34.430>an <00:04:34.555>explosion <00:04:35.256>in <00:04:35.416>south <00:04:35.743>Lebanon <00:04:36.183>the <00:04:36.283>day <00:04:36.483>before, <00:04:37.303>and <00:04:37.403>the <00:04:37.592>origin <00:04:38.110>is <00:04:38.376>still <00:04:38.723>unknown.

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<v Rich>So <00:04:40.110>be <00:04:40.383>careful <00:04:40.843>about <00:04:41.093>drawing <00:04:41.523>a <00:04:41.670>clean <00:04:42.070>cause-and-effect <00:04:42.883>line <00:04:43.267>here—but <00:04:44.103>the <00:04:44.227>ceasefire <00:04:44.883>is <00:04:45.123>plainly <00:04:45.750>under <00:04:46.174>severe <00:04:46.803>strain.

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<v Sarah>The <00:04:48.443>immediate <00:04:48.870>facts <00:04:49.223>are <00:04:49.343>clearer <00:04:49.795>than <00:04:49.943>the <00:04:50.053>broader <00:04:50.473>trigger.

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<v Sarah>Lebanese <00:04:51.896>authorities <00:04:52.529>report <00:04:52.876>casualties <00:04:53.623>and <00:04:53.745>displacement; <00:04:55.020>Israel <00:04:55.427>says <00:04:55.731>Hezbollah <00:04:56.234>violated <00:04:56.823>the <00:04:56.947>ceasefire.

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<v Sarah>A <00:04:58.145>cemetery <00:04:58.712>strike <00:04:59.163>and <00:04:59.323>a <00:04:59.413>renewed <00:04:59.812>displacement <00:05:00.470>order <00:05:00.856>raise <00:05:01.143>the <00:05:01.283>stakes, <00:05:02.127>whatever <00:05:02.533>account <00:05:02.934>ultimately <00:05:03.496>bears <00:05:03.863>out.

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<v Sarah>From <00:05:05.361>CNN:

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<v Quote>Iran <00:05:08.453>was <00:05:08.613>ready <00:05:08.866>to <00:05:09.030>attack <00:05:09.413>three <00:05:09.680>sites <00:05:10.066>in <00:05:10.233>Ukraine <00:05:10.717>over <00:05:11.053>a <00:05:11.173>claimed <00:05:11.510>strike <00:05:11.906>on <00:05:12.033>one <00:05:12.120>of <00:05:12.213>its <00:05:12.377>commercial <00:05:12.873>vessels <00:05:13.320>in <00:05:13.393>the <00:05:13.533>Caspian <00:05:14.093>Sea <00:05:14.386>in <00:05:14.525>late <00:05:14.749>July

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<v Quote>a <00:05:15.833>top <00:05:16.057>military <00:05:16.483>adviser <00:05:17.026>to <00:05:17.193>Supreme <00:05:17.659>Leader <00:05:18.013>Mojtaba <00:05:18.613>Khamenei <00:05:19.181>said <00:05:19.442>Monday

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<v Quote>Iran’s <00:05:20.693>state-linked <00:05:21.173>Press <00:05:21.506>TV <00:05:21.835>reported.

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<v Quote>“We <00:05:23.565>were <00:05:23.733>ready <00:05:23.960>to <00:05:24.070>attack <00:05:24.466>three <00:05:24.800>areas <00:05:25.186>in <00:05:25.353>Ukraine,” <00:05:26.153>Mohsen <00:05:26.573>Rezaei <00:05:27.165>said <00:05:27.346>in <00:05:27.480>an <00:05:27.573>interview <00:05:27.965>with <00:05:28.153>Iranian <00:05:28.613>state <00:05:28.864>television.

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<v Sarah>A <00:05:29.808>separate <00:05:30.304>CNN <00:05:30.772>item <00:05:31.024>matters <00:05:31.492>here: <00:05:32.204>Mohsen <00:05:32.644>Rezaei

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<v Sarah>a <00:05:33.581>senior <00:05:33.984>adviser <00:05:34.457>to <00:05:34.644>Iran’s <00:05:35.084>supreme <00:05:35.421>leader

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<v Sarah>told <00:05:36.537>state-linked <00:05:37.177>Press <00:05:37.657>TV <00:05:38.148>that <00:05:38.484>Iran <00:05:38.844>had <00:05:39.008>prepared <00:05:39.424>strikes <00:05:39.924>on <00:05:40.124>three <00:05:40.391>sites <00:05:40.777>in <00:05:40.954>Ukraine

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<v Sarah>then <00:05:42.084>paused <00:05:42.604>after <00:05:42.884>Kyiv <00:05:43.250>called <00:05:43.544>the <00:05:43.684>Caspian <00:05:44.226>incident <00:05:44.804>a <00:05:44.964>mistake.

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<v Rich>“Prepared <00:05:46.994>strikes” <00:05:48.244>is <00:05:48.524>still <00:05:48.764>a <00:05:48.857>claim <00:05:49.156>from <00:05:49.344>Iranian <00:05:49.804>state <00:05:50.055>television

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<v Rich>but <00:05:51.177>it’s <00:05:51.344>a <00:05:51.417>reminder <00:05:51.897>of <00:05:52.044>how <00:05:52.224>quickly <00:05:52.684>a <00:05:52.775>commercial-shipping <00:05:53.764>dispute <00:05:54.444>can <00:05:54.836>turn <00:05:55.012>into <00:05:55.244>a <00:05:55.353>target <00:05:55.844>list.

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<v Sarah>Rezaei <00:05:57.268>also <00:05:57.588>said <00:05:57.913>Tehran <00:05:58.384>was <00:05:58.614>focused <00:05:59.017>on <00:05:59.236>Oman-mediated <00:06:00.388>Hormuz <00:06:00.958>negotiations, <00:06:02.304>not <00:06:02.551>talks <00:06:02.916>with <00:06:03.102>Washington.

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<v Sarah>That’s <00:06:04.564>Iran’s <00:06:04.861>public <00:06:05.284>line.

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<v Sarah>Keep <00:06:06.297>it <00:06:06.448>separate <00:06:06.836>from <00:06:06.984>the <00:06:07.100>sanctions-relief <00:06:07.970>demand <00:06:08.297>we <00:06:08.452>just <00:06:08.694>covered.

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<v Rich>Oman <00:06:10.132>gets <00:06:10.388>described <00:06:11.044>as <00:06:11.244>the <00:06:11.444>diplomatic <00:06:12.324>lane, <00:06:13.151>while <00:06:13.364>Iran <00:06:13.744>signals <00:06:14.244>it <00:06:14.444>can <00:06:14.612>open <00:06:14.854>another <00:06:15.268>lane <00:06:15.570>toward <00:06:15.914>Ukraine.

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<v Rich>Very <00:06:17.544>calming <00:06:18.306>architecture.

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<v Rich>Iran is asking for sanctions relief while also seeking toll-free—or at least guaranteed—passage through Hormuz.

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<v Rich>What would a deal shipping companies could actually use have to contain beyond another political announcement that the strait is open?

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<v Sarah>Start with the basic conflict.

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<v Sarah>Iran has sought transit fees

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<v Sarah>reportedly 5% to 7% of a cargo’s value

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<v Sarah>while AP says collecting tolls in the strait conflicts with the established principle of peaceful navigation.

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<v Sarah>Then there’s the financial side.

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<v Sarah>Treasury’s OFAC warned that payments or guarantees Iran seeks for safe passage can create sanctions risk for U.S.

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<v Sarah>and non-U.S. persons, whether the payment comes in cash, digital assets, swaps, or even purported charitable donations.

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<v Sarah>Reuters also reported that a new war-risk insurance clause would terminate coverage for vessels that pay Hormuz transit fees, and that U.S.

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<v Sarah>sanctions on Iran’s strait authority create further compliance problems.

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<v Sarah>Any reopening deal would need to let shipowners

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<v Sarah>cargo owners banks and insurers operate without making a prohibited payment or losing insurance.

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<v Sarah>It would also need a clearly observed end to threats and attacks.

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<v Sarah>One analysis put it this way: ships have been deterred rather than physically blocked

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<v Sarah>and the morning after a ceasefire announcement

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<v Sarah>most vessels waiting in the Gulf still did not move.

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<v Sarah>A declaration matters only if commercial traffic resumes under conditions insurers and operators judge safe enough to accept.

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<v Rich>But if Tehran simply says ships are safe, how do companies tell a credible guarantee from a promise that unravels after the first transit?

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<v Sarah>They’ll look for behavior they can observe: sustained

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<v Sarah>normal vessel movement and insurance that stays valid

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<v Sarah>rather than a few isolated transits or a diplomatic statement.

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<v Sarah>AP reported that even after a tentative reopening agreement, oil flows could take weeks or months to fully recover.

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<v Sarah>Al Jazeera found traffic still hadn’t picked up four days after a preliminary U.S.-Iran agreement.

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<v Sarah>For commercial operators, the strait is reopened when they decide the risk is manageable.

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<v Host>Have <00:08:39.999>feedback, <00:08:40.870>story <00:08:41.217>ideas, <00:08:41.670>or <00:08:41.764>corrections?

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<v Host>Email <00:08:43.697>us <00:08:43.910>at <00:08:44.124>iranwardaily <00:08:45.270>at <00:08:45.437>lantern <00:08:45.946>podcasts <00:08:46.737>dot <00:08:47.097>com.

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<v Host>Your <00:08:48.390>notes <00:08:48.689>help <00:08:48.849>make <00:08:49.057>Iran <00:08:49.437>War <00:08:49.697>Daily <00:08:50.145>more <00:08:50.390>accurate <00:08:50.857>and <00:08:51.046>useful.

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<v Host>Links <00:08:52.654>to <00:08:52.801>every <00:08:53.054>story <00:08:53.374>we <00:08:53.511>covered <00:08:53.788>today <00:08:54.161>are <00:08:54.308>in <00:08:54.381>the <00:08:54.489>show <00:08:54.761>notes.

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<v Host>If <00:08:55.861>one <00:08:56.087>caught <00:08:56.377>your <00:08:56.505>attention, <00:08:57.529>take <00:08:57.761>a <00:08:57.847>moment <00:08:58.148>to <00:08:58.233>read <00:08:58.381>the <00:08:58.489>full <00:08:58.761>piece <00:08:59.201>and <00:08:59.381>dig <00:08:59.609>into <00:08:59.821>the <00:08:59.929>reporting <00:09:00.418>behind <00:09:00.814>it.

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<v Host>That’s <00:09:01.865>Iran <00:09:02.161>War <00:09:02.334>Daily <00:09:02.641>for <00:09:02.841>today.

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<v Host>This <00:09:03.988>is <00:09:04.081>a <00:09:04.171>Lantern <00:09:04.621>Podcast.