Iran proposes deal to reopen Strait of Hormuz in 7 days if US meets its conditions

Iran has put forth a proposal to reopen the Strait of Hormuz and restart negotiations on its nuclear program within seven days, contingent upon the United States lifting its naval blockade of Iranian ports, waiving sanctions on Iranian oil sales, and observing a ceasefire that would encompass Lebanon. Foreign Minister Abbas Araghchi divulged the proposal during an off-the-record meeting on Thursday, held during the U.N.

General Assembly in New York. According to Trita Parsi, executive vice president of the Quincy Institute think tank, Araghchi proposed that a prompt resolution would benefit U.S. President Donald Trump ahead of the November midterm elections. The agreement would also alleviate significant economic strain on Tehran, as the U.S. continues to impose additional sanctions.

The disruption of the strait, through which a fifth of the world's traded oil and gas passed prior to the war, has proven to be Iran's most potent leverage. The ramifications have been felt beyond the Middle East. There was no immediate response from Iran's U.N. mission or other Iranian officials.