Trump's Hormuz deadline looms but Asian nations have already struck deals with Iran

Trump's Hormuz deadline looms but Asian nations have already struck deals with Iran17 minutes agoShareSaveAdd as preferred on GoogleOsmond ChiaBusiness reporterGetty ImagesAn Indian tanker that passed through the Strait of HormuzOn Monday, US President Donald Trump threatened to take out Iran "in one night" if it failed to make a deal reopen the Strait of Hormuz by 20:00EDT (01:00GMT) on Tuesday.But even before his latest threat some countries had already secured deals with Tehran for their vessels to use the key shipping route.Asian nations - most recently the Philippines - have been particularly keen to reach agreements as their economies are heavily reliant on energy from the Gulf.The critical route has become a global flashpoint after Tehran retaliated to US and Israeli airstrikes by threatening to attack ships in the strait.Oil prices have surged since the disruption to shipping in the narrow waterway, through which a fifth of the world's energy shipments usually transits.Last week, Trump said the US did not need the Gulf's oil. He has repeatedly urged countries reliant on the region's energy to send warships to the strait and to take the lead to ensure shipments can resume.In recent weeks - several Asian countries including Pakistan, India and the Philippines - have made agreements with Tehran to let some ships pass through the strait safely. China has also acknowledged that their vessels have also used the channel. Questions remain over the scope of these assurances and just how lasting these agreements with Iran will be.We still don't know whether the guarantees apply only to some ships or all vessels flagged under a certain country, said Dimitris Maniatis from shipping consultancy Marisks.Nevertheless, countries that need the Gulf's energy are now recognising that they must engage with Iran if they want to resume shipments, said Roc Shi from the University of Technology Sydney.The fruits of diplomacyThe Philippines is...