Iran Offers Last-Ditch Deal to Reopen Strait of Hormuz Amid Economic Crisis
Iran's Foreign Minister Abbas Araghchi has proposed a new deal to reopen the Strait of Hormuz and resume talks on its nuclear program. The proposal would take effect in seven days if the US meets certain conditions.
The main conditions include lifting the naval blockade of Iranian ports, waiving sanctions on Iranian oil sales, and observing a ceasefire that includes Lebanon. This move is seen as an attempt to alleviate economic pressure on Tehran, which has been facing immense strain due to US-imposed sanctions.
Araghchi's proposal closely resembles a previous deal reached in June, but with an accelerated timetable. However, this agreement quickly collapsed as Iran resumed attacks on shipping in the strait.
The US has expressed skepticism about the new proposal, with President Donald Trump stating that he is not in a hurry to reach a deal. Meanwhile, Saudi Arabia remains skeptical of the offer, citing concerns over Iran's intentions and its potential impact on global markets.