Iran proposes seven-day timetable to reopen Strait of Hormuz

Iran has proposed a deal that would end the fighting and reopen the Strait of Hormuz within seven days, but the United States has not indicated that it accepts Tehran’s conditions. The proposal was presented during a week of Iranian diplomacy in New York, where President Masoud Pezeshkian and Foreign Minister Abbas Araghchi attended a United Nations gathering. Iran’s conditions include an end to the US military blockade of its ports, the release of frozen Iranian assets and a waiver of sanctions on oil sales.

The terms largely repeat provisions included in a June agreement that collapsed within days of being signed. What differs in the latest proposal is the faster timetable for reopening the strategic waterway. The United States and Iran held three hours of indirect talks through mediators on Tuesday, according to the US.

Secretary of State Marco Rubio said the discussions were good and that Washington was open to further talks. The White House later described conversations with mediators as positive and constructive. The diplomatic signals have been accompanied by sharp rhetoric.

US President Donald Trump threatened to “annihilate” Iran in a United Nations speech, while Pezeshkian said Tehran would fight until its last breath before reaffirming that diplomacy remained possible. Reopening the Strait would ease pressure on global markets and on US forces guiding commercial ships through the waterway. For Iran, lifting the blockade and oil sanctions would allow greater crude exports as its currency weakens and inflation rises.

Iranian officials have said the decision now rests with Washington. Analysts cited in the source material said both sides may be calculating how the conflict affects the US midterm elections, while Trump has said he is not in a hurry to reach a deal.