Qatar has stated that a US-Iran hotline is necessary for the reopening of the Hormuz waterway. The reopening of Hormuz is also linked to the resumption of normal liquefied natural gas production in Qatar, which is expected to happen within a few weeks. The situation in Hormuz is being closely watched, with a recent ship attack testing the fragile understanding between the US and Iran, amid reports of a potential settlement and a reviewed memorandum of understanding.