Iran Offers to Reopen Strait of Hormuz in Exchange for US Easing Military Pressure
Brent crude prices plummeted below $100 a barrel on Tuesday as Iran offered to reopen the Strait of Hormuz within seven days if the US takes initial steps toward easing military pressure.
A senior Iranian government official, speaking to Kyodo News, said Tehran plans to use the UN General Assembly gathering in New York this week to consult with countries acting as intermediaries. The official ruled out a meeting between Iranian President Masoud Pezeshkian and Donald Trump on the fringes of the gathering.
The proposal calls for renewed talks aimed at reaching a permanent end to hostilities between the two countries, with Iran seeking signs from Washington that it is prepared to return to negotiations and take steps toward ending the US military blockade of Iranian ports. If such steps are taken, Iran is prepared to reopen the strategic waterway within seven days.
The official said there was a possibility of moving toward an agreement if Washington demonstrates 'seriousness and commitment'.