Iran Offers Deal to Reopen Strait of Hormuz in Seven Days
Iran has proposed a deal to reopen the Strait of Hormuz and resume talks on its nuclear program in seven days. The proposal, conveyed by Qatar, requires the United States to lift its naval blockade of Iranian ports, waive sanctions on Iranian oil sales, and observe a ceasefire that includes Lebanon.
The strait, through which a fifth of the world's traded oil and gas transits, has been closed due to Iran's disruption. The effects have been felt globally, posing political problems for President Donald Trump and his Republican Party ahead of November's midterm congressional elections.
Iranian Foreign Minister Abbas Araghchi detailed the proposal outside the U.N. Security Council on Friday, saying it would restart stalled talks with the U.S. on Iran's nuclear program within seven days.