Iran proposes deal to reopen Hormuz in 7 days if US meets its conditions

Iran has offered to reopen the Strait of Hormuz and resume talks on its nuclear program in seven days if the United States lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales and observes a ceasefire that would include Lebanon.

Iran's Foreign Minister Abbas Araghchi detailed the proposal in a private gathering on the sidelines of the UN General Assembly in New York, according to one attendee.

Trita Parsi, executive vice president of the Quincy Institute think tank, said Araghchi suggested that a speedy agreement would help US President Donald Trump ahead of November's midterm elections. The arrangement would also relieve enormous economic pressure on Tehran as the U.S. piles on additional sanctions.

Iran's disruption of the strait — through which a fifth of the world's traded oil and gas transited before the war — has emerged as its main point of leverage. The effects have been felt far beyond the Middle East.

There was no immediate comment from Iran's UN mission or other Iranian officials. A person familiar with the matter told The Associated Press that Saudi Arabia was sceptical of the latest push for a deal.

The proposal, conveyed to the US by mediators, strongly resembles the so-called Memorandum of Understanding reached in June, but with an accelerated timetable. The earlier agreement, which called for a 60-day interim period, quickly collapsed as Iran resumed attacks on shipping in the strait.

Trump has said he is in no rush to reach a deal, even as high oil prices fuel inflation. On the Iranian side, there are questions as to whether the security forces would accept compromises championed by moderates like President Masoud Pezeshkian.

"If Trump calculates this arrangement is worthwhile and can bring political benefit before the midterms and reduce gas prices, perhaps we'll see flexibility not seen in previous weeks,” Parsi said. But he noted "deep suspicion,” especially around the prospect of Iran merely buying time to ship out more of its oil and ease its economic pain.

In the latest sign of diplomatic movement, Pezeshkian hosted the prime minister of Qatar early on Friday. Qatar has been a key mediator, including during hours of indirect Iran-US talks at the UN this week.

It was not clear how long Pezeshkian and Araghchi would stay in the US after Pezeshkian addressed the annual UN gathering of world leaders on Wednesday, ending his speech by saying Iran remained open to diplomacy.

US Secretary of State Marco Rubio, on the same day, said "if there’s an opportunity to exchange ideas and messages, we will.”

Maj. Gen. Yahya Rahim Safavi, a military adviser to Iran's new supreme leader, told state television that the Americans "face a new problem called the Bab Al Mandeb Strait.”

He added: "I think the process that is unfolding is in our favor, and the Americans will be forced to accept Iran’s conditions.”

Associated Press