Disagreements persist in US-Iran agreement, Rubio downplays Gulf states' concerns, oil prices fall below pre-war levels

⑴ During his visit to Bahrain, US Secretary of State Rubio downplayed concerns raised by the United Arab Emirates about Iran possibly imposing transit fees on the Strait of Hormuz, calling it “a word game.” Previously, a presidential advisor from the UAE warned against imposing “geopolitical facts” on Gulf countries due to “treacherous acts of aggression,” cautioning that such actions would sow the seeds of division and conflict for the future.⑵ Trump claimed that Iran has informed the US that it does not seek to collect transit fees from ships passing through, and threatened to abandon negotiations if Iran attempted to impose such fees. Brent crude oil fell to $72.24 per barrel on Thursday, below the level prior to the outbreak of the Iran war on February 28. Vessel traffic through the strait doubled in the past 24 hours, reaching the highest level since before the conflict.⑶ Speaking in Kuwait City, Rubio stated that the US would not do anything to jeopardize the security of its long-term allies. However, Iran’s Revolutionary Guard warned that newly declared shipping routes without coordination with Iran are unacceptable and pose security risks, and announced actions would be taken against vessels failing to comply.⑷ In a closed-door meeting, Trump clashed fiercely with Republican senators over the outbreak of the Iran war. Senators demanded an explanation from the government as to why the framework agreement signed last week provided financial incentives to Iran without fulfilling any of the objectives set at the start of the conflict. Polls show that only 24% of Americans believe this war is worth the cost.