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 if the US lifts its naval blockade, waives sanctions on Iranian oil sales, and observes a ceasefire that includes Lebanon.

The proposal was made by Iran's foreign minister, Abbas Araghchi, during a private gathering at the UN General Assembly in New York. It closely resembles the so-called Memorandum Of Understanding reached in June but with an accelerated timetable.

Araghchi suggested that a speedy agreement would help US President Donald Trump ahead of November's midterm elections and relieve economic pressure on Tehran as the US piles on additional sanctions.