Iran offers to reopen Strait of Hormuz within seven days, says minister

Iran has offered to reopen the Strait of Hormuz within seven days if the United States meets conditions set out in a June memorandum of understanding, Iranian Foreign Minister Abbas Araghchi said. Speaking at the United Nations in New York, Araghchi said the necessary steps were already contained in the memorandum and that the decision now rested with Washington. He did not specify the conditions.

The June agreement was intended to support a ceasefire and partly reopen the waterway. It included provisions that Iran would not develop a nuclear weapon, that the parties would end military operations on all fronts, and that the United States would provide sanctions relief and end a naval blockade. The memorandum also required Iran to make its best efforts to ensure the safe passage of commercial vessels and hold talks with Oman about future shipping arrangements.

The agreement later broke down when the parties resumed attacks. The closure has caused sharp fluctuations in oil prices. Before the war, about 20% of the world’s oil and liquefied natural gas passed through the strait, according to the report.

Iran has attacked vessels it said crossed without authorisation, while the United States has targeted Iranian sites and tankers. A US official told Reuters that positive discussions were taking place through mediators, including on nuclear issues. The report does not say whether Washington has accepted Iran’s proposal.

The offer comes after President Donald Trump threatened to “annihilate” Iran if no agreement was reached. Araghchi said Iran did not accept coercion or intimidation and argued that peace could not be built through threats. The Houthis, allied with Iran, have also intensified attacks affecting Saudi oil exports through the Red Sea.