Iran Offers Strait Reopening Deal to US in Exchange for Naval Blockade Lift
Iran's foreign minister Abbas Araghchi has proposed a deal to reopen the Strait of Hormuz and resume talks on Iran's nuclear program in seven days, provided that the US lifts its naval blockade and waives sanctions on Iranian oil sales.
The proposal, which is similar to the Memorandum Of Understanding reached in June but with an accelerated timetable, would also include a ceasefire in Lebanon and the observation of a current de facto ceasefire between Israel and Hezbollah.
Trita Parsi, executive vice president of the Quincy Institute think tank, who attended the private gathering where Araghchi made the proposal, said that Iran's current push for speed reflects Tehran's suspicion that Washington is 'using this diplomacy to make it harder for Iranians to launch pre-emptive strikes before the midterms.'
The Strait of Hormuz is a critical waterway through which a fifth of the world's traded oil and gas transited before the war, and its disruption has had far-reaching effects on global markets.