A significant debate is unfolding inside Iran over the true strategic worth of the strait of Hormuz, a waterway that Tehran has long treated as a source of major geopolitical leverage, according to the Guardian.

The office of the Iranian supreme leader recently described the strait as “the pillar of Iran’s new security order” and characterised it as transformative as possessing a nuclear weapon. That framing positions the waterway as central to Iran’s security thinking and its approach to negotiations.

However, the Guardian reports that some within Iran are questioning whether the strait’s value as a chokehold on the world economy is in fact declining. Those voices warn that the asset is fast-diminishing and that Iran could be left increasingly vulnerable to a new planned wave of US economic sanctions.

Central to the concern is the risk to Iran’s foreign exchange reserves. According to the report, those who see the strait’s leverage eroding argue that Tehran’s negotiators should seek a deal soon rather than assume the waterway will continue to provide sustained bargaining power.

Adding to the pressure, Gulf neighbours are planning alternative pipelines designed to cut their reliance on the waterway, according to the Guardian. Such infrastructure would reduce the strait’s importance as a transit route and, by extension, weaken the leverage Iran can derive from it.

The Guardian also notes that internal calls to end the war are getting louder, a dynamic that feeds directly into the wider argument over Tehran’s negotiating strategy. Different conclusions are being drawn inside Iran, leaving the country’s approach to talks contested.