Iran Offers Seven-Day Deal to Reopen Strait of Hormuz
Iran has proposed a deal to reopen the Strait of Hormuz and resume talks on its nuclear program in seven days, according to an attendee at a private gathering with Iranian Foreign Minister Abbas Araghchi. The proposal includes lifting US naval blockade, waiving sanctions on Iranian oil sales, and observing a ceasefire that would include Lebanon.
The deal is similar to the Memorandum of Understanding reached in June but has an accelerated timetable. If accepted, it would relieve significant economic pressure on Tehran as the US piles on additional sanctions.
Trita Parsi, executive vice president of the Quincy Institute think tank, who attended the gathering, said Araghchi suggested that a speedy agreement would help US President Donald Trump ahead of November's midterm elections. However, suspicion is high on both sides, and it's unclear if Iran's hardliners will accept compromises championed by moderates like President Masoud Pezeshkian.
The proposal reflects Tehran's concern that Washington is using diplomacy to make it harder for Iranians to launch pre-emptive strikes before the midterms. The deal would also include Lebanon, where a ceasefire has been observed between Israel and Iran-backed Hezbollah.