Iran Offers Deal to Reopen Strait of Hormuz in Seven Days

Iran has proposed a deal to reopen the Strait of Hormuz in seven days if the US lifts its naval blockade, waives sanctions on Iranian oil sales, and observes a ceasefire that includes Lebanon. The proposal was made by Iran's foreign minister Abbas Araghchi at a private gathering on Thursday on the sidelines of the UN General Assembly in New York.

The deal would also relieve enormous economic pressure on Tehran as the US piles on additional sanctions. According to Trita Parsi, executive vice president of the Quincy Institute think tank, Araghchi suggested that a speedy agreement would help US President Donald Trump ahead of November's midterm elections.

Parsi noted that Iran's current push for speed reflects Tehran's suspicion that Washington is 'using this diplomacy to make it harder for Iranians to launch pre-emptive strikes before the midterms'. The proposal strongly resembles the so-called Memorandum Of Understanding reached in June, but with an accelerated timetable.