Iran Offers Deal to Reopen Strait of Hormuz in Seven Days
A potential deal to reopen the Strait of Hormuz and resume talks on Iran's nuclear programme has been proposed by Tehran, according to a private gathering at the UN General Assembly in New York. The proposal involves lifting the US naval blockade, waiving sanctions on Iranian oil sales, and observing a ceasefire that would include Lebanon.
The offer was made by Iranian Foreign Minister Abbas Araghchi, who suggested that a speedy agreement could help US President Donald Trump ahead of November's midterm elections. This deal closely resembles the Memorandum Of Understanding reached in June, but with an accelerated timetable.
Trita Parsi, executive vice president of the Quincy Institute think tank, who attended the gathering, noted that there is 'deep suspicion' around Iran merely buying time to ease its economic pain. However, 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.