Iran Offers US Deal to Open Strait of Hormuz in Seven Days
Iran's Foreign Minister Abbas Araghchi and President Masoud Pezeshkian made a high-stakes pitch to the US, proposing a deal that would end fighting and open the Strait of Hormuz within seven days. The proposal, presented during the UN gathering in New York, requires the US to lift its military blockade on Iranian ports, release frozen assets, and waive sanctions on oil sales.
The latest talks between the two sides' envoys via mediators were described as 'good' by Secretary of State Marco Rubio. However, Trump's speech at the UN gathering threatened to 'annihilate' Iran, followed by Pezeshkian's vow to fight 'until our last breath.' Despite this tension, Pezeshkian still expressed openness to diplomacy.
The Strait of Hormuz is a crucial waterway that would ease global markets and relieve pressure on the US military if opened. Lifting the naval blockade and waiving sanctions could help Iran's battered economy as its currency hits record lows and inflation soars. Analysts believe Tehran's new push for a deal reflects its focus on the midterms, while Washington may be waiting to reassess after the elections.