Iran Offers Seven-Day Plan to Reopen Hormuz Strait in Exchange for US Concessions
A seven-day plan to reopen the Hormuz Strait and resume nuclear talks has been proposed by Iran, contingent on several conditions from the United States. According to Trita Parsi, executive vice president of the Quincy Institute think tank, Iranian Foreign Minister Abbas Araghchi suggested the proposal at a private gathering in New York. The terms include lifting the US naval blockade, waiving sanctions on Iranian oil sales, and observing a ceasefire that includes Lebanon.
The plan closely resembles a memorandum of understanding reached in June but with an accelerated timetable. That earlier agreement called for a 60-day interim period but quickly collapsed as Iran resumed attacks on shipping in the strait.
US President Donald Trump has expressed no urgency to reach a deal, even as high oil prices fuel inflation and add to cost-of-living concerns. Questions remain over whether hard-liners who dominate Iran's security forces will accept compromises supported by relatively moderate figures such as President Masoud Pezeshkian.
Trump may see flexibility from his administration if he calculates that the arrangement is worthwhile and can bring political benefit before the November midterms, Parsi noted. However, there are deep suspicions over concerns that Iran could use the arrangement to buy time to sell more of its oil and ease economic pressure.