Iran proposes deal to reopen Strait of Hormuz within seven days FAST-MOVING

Iranian Foreign Minister Abbas Araghchi has proposed a deal to the United States that would reopen the Strait of Hormuz to global shipping within seven days. The proposal, delivered via mediator Qatar, stipulates that the reopening can occur “if the necessary conditions are met,” referring to the terms outlined in a Memorandum of Understanding (MOU) signed in June.

The MOU includes a 14-point plan where Iran commits to not pursuing nuclear weapons and restarting nuclear inspections in exchange for an end to military strikes, the lifting of economic sanctions, and increased investment in the country. The conflict escalated following US and Israeli air strikes on Iran on 28 February, which prompted Iranian retaliation against Israel, US bases, and Gulf allies, as well as the closure of the strategic waterway.

While US officials have confirmed positive discussions are occurring through mediators, reports indicate President Donald Trump has expressed skepticism regarding Iran’s commitment to the deal and has privately considered the possibility of renewed bombing campaigns. The closure of the Strait, which handles approximately 20% of the world’s oil and liquefied natural gas, has caused significant fluctuations in global energy prices.