US blockade squeezes Iran & Tehran names price to reopen Hormuz

Iran has issued a series of demands to the US in return for reopening the Strait of Hormuz - everything from war reparations to withdrawing regional military assets. Many of them echo the previous peace deal, so will Donald Trump accept?

On today's episode of Iran: the Latest, Venetia Rainey and Sophia Yan look at who is in a stronger position. Trump’s naval blockade has forced Tehran’s primary oil terminal on Kharg Island to grind to a halt and is pushing food inflation above 200 per cent in some cases. But Iran has just appointed a hardline new security council leader who has vowed to retain full control of Hormuz. 

Plus, why Tehran has released an old video of Supreme Leader Mojtaba Khamenei, Houthi attacks on a Saudi oil refinery puts the new Saudi Arabia-Turkey-Pakistan Mecca defence pact to an early test, and Israel’s Benjamin Netanyahu explicitly rejects Donald Trump’s 15-point Gaza peace deal.

Highlights

• US blockade squeezes Iran as main oil terminal goes dark
• Tehran names price to reopen the Strait of Hormuz

CONTRIBUTORS:

Venetia Rainey, co-host and executive producer @venetiarainey

Sophia Yan, co-host and senior foreign correspondent @sophia_yan

WATCH US ON YOUTUBE: https://www.youtube.com/playlist?list=PLJnf_DDTfIVAif-vifC6F2aoPB8GIw6dk

CONTENT REFERENCED:

Iran names price to reopen Strait of Hormuz

https://www.telegraph.co.uk/world-news/2026/08/09/iran-names-price-to-reopen-strait-of-hormuz/ 

As one oil chokepoint calms, Houthis threaten another

https://www.telegraph.co.uk/world-news/2026/08/08/war-yemen-threatens-drag-middle-east-deeper-crisis/

Israel rejects Trump’s Gaza plan

https://www.telegraph.co.uk/world-news/2026/08/09/benjamin-netanyahu-israel-donald-trump-gaza-plan-hamas/

Winner Best News and Analysis Podcast - Publisher Podcast Awards 2026

Nominated Podcast of the Year - Society of Editors News Podcasts Awards 2026

Nominated Best News, Politics and Current Affairs - British Podcast Awards 2026

The Telegraph, Winner Podcast Publisher of the Year 2026 - Publisher Podcast Awards 2026

Producer: Max Bower

Video Producer: Peter Shevlin

Researcher and Social Producer: Anna Hindmarsh

Studio Operator: Andy Watson

Executive Producer: Venetia Rainey 

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