Iran Offers Deal to Reopen Strait of Hormuz in Exchange for US Concessions

Iran's Foreign Minister Abbas Araghchi proposed a deal to reopen the Strait of Hormuz and restart talks on its nuclear program, provided the US lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales, and observes a ceasefire that includes Lebanon. This proposal closely resembles an earlier agreement reached in June but fell apart after Iran resumed attacks on shipping.

Araghchi said the seven-day timeline for the deal would start as soon as the US accepts it, with initial steps taking about four to five days to complete and the strait reopening on the sixth day. On the seventh day, talks with the US on a final nuclear deal would begin. He also mentioned that over 5,000 people in Iran have been killed in nearly seven months of war.

The proposal comes as the Strait of Hormuz has emerged as a major point of leverage for Iran, with its disruption affecting global markets and posing political problems for US President Donald Trump ahead of November's midterm congressional elections. Trita Parsi from the Quincy Institute think tank noted that 'if Trump calculates this arrangement is worthwhile and can bring political benefit before the midterms and reduce gas prices, perhaps we'll see flexibility not seen in previous weeks.'

Hamidreza Azizi, senior Iran analyst at the International Crisis Group think tank, said the Iranians already know that the chances of this deal being accepted by Trump are higher than it not being accepted. They want to show that they were ready for diplomacy and that it was the US that attacked in the middle of a diplomatic track.