Iran offers US deal to reopen Strait of Hormuz within seven days

Iran has offered the United States a deal that could see the Strait of Hormuz reopened and normal maritime traffic restored within seven days, provided that certain conditions are satisfied. Foreign Minister Abbas Araghchi said the conditions were already detailed in a memorandum of understanding signed by Iran and the United States in June and that the proposal had been communicated to Washington through Qatar. A U.S. official told the BBC that constructive discussions are underway, including on nuclear-related matters, and that the U.S. is in a strong position with control of the strait. The memorandum, signed on 18 June, aimed to establish a ceasefire and facilitate a partial reopening of the strait and contained 14 points, including a commitment by Iran not to develop nuclear weapons and a halt to military operations by all parties. The agreement collapsed after both sides resumed military strikes, but the current offer signals a potential shift in the diplomatic approach to the conflict that began with U.S. and Israeli airstrikes on 28 February. The strait has historically carried about 20 percent of the world’s oil and liquefied natural gas supplies, and its closure has caused significant fluctuations in global energy prices.