Iran Offers Deal to Reopen Strait of Hormuz for Nuclear Talks

Iran has proposed a deal to reopen the Strait of Hormuz and resume talks on its nuclear program in seven days if the US meets certain conditions, according to Iranian Foreign Minister Abbas Araghchi.

The proposal involves lifting the US naval blockade of Iranian ports, waiving sanctions on Iranian oil sales, and observing a ceasefire that would include Lebanon.

Araghchi said initial steps would take about four to five days to complete, and the strait would be open on the sixth day. The talks with the US would start for the final deal on mutually agreed subjects on the seventh day.

The proposal resembles a June deal that quickly crumbled. It's unclear if it would include the Yemen conflict, which has put even more pressure on global markets.