Iran Offers Last-Ditch Deal to Reopen Hormuz Strait
Iran has proposed a deal to reopen the Strait of Hormuz and resume talks on its nuclear program within seven days, contingent upon the US lifting its naval blockade and waiving sanctions on Iranian oil sales.
The proposal was made by Iran's Foreign Minister Abbas Araghchi at a private gathering in New York, according to Trita Parsi, executive vice president of the Quincy Institute think tank.
Araghchi suggested that a swift agreement would benefit US President Donald Trump ahead of November's midterm elections, with gas prices and inflation concerns potentially influencing his decision-making.
The proposal bears resemblance to the Memorandum of Understanding reached in June, but with an accelerated timeline. However, high oil prices and concerns about Iran merely buying time to ease its economic pain have sparked skepticism.