Iranian Foreign Minister Abbas Araghchi has presented a proposal to the United States offering to reopen the strategically vital Strait of Hormuz within seven days if Washington lifts its naval blockade, eases petroleum sanctions, and halts regional hostilities.
Speaking to reporters on the sidelines of the United Nations General Assembly in New York, Araghchi explained that the initiative was transmitted through intermediaries to facilitate an immediate de-escalation of the conflict. Under the terms of the plan, a comprehensive cessation of military operations would take effect across the region, including in Lebanon, for a seven-day period. In exchange for restoring maritime access through the chokepoint on the seventh day, Tehran demands relief from the American naval embargo, waivers allowing Iranian crude exports, and the release of roughly $12 billion in frozen assets.
The foreign minister noted that the proposal builds upon an earlier memorandum of understanding established in June, which briefly paused fighting before collapsing amid maritime skirmishes. Araghchi indicated that formal negotiations regarding Iran's nuclear program could also resume immediately following the reopening of the transit corridor. Iranian officials, including President Masoud Pezeshkian, emphasized a desire to reach a lasting diplomatic resolution prior to the upcoming U.S. midterm elections.
Back-channel communications have continued through regional mediators, with Qatari diplomats helping convey messages between the Iranian delegation and U.S. representatives. Despite the offer, American officials have remained guarded, reiterating concerns that any future agreement must directly incorporate verifiable constraints on Iran's nuclear activities. Global energy markets reacted swiftly to the diplomatic overture, prompting benchmark crude prices to soften slightly after weeks of heightened volatility driven by restricted commercial transit.