Iran proposes deal with US to reopen Strait of Hormuz within a week
News Source
β’Sat, 26 Sep 2026 00:36:06 +0000
π° What Happened
Iran's foreign minister, Abbas Araghchi, told the United Nations that Iran has sent the United States a plan to reopen the Strait of Hormuz. Under the plan, the strait would reopen within seven days of both sides agreeing.
Reports say the plan asks for a seven-day stop to fighting in the Middle East and the release of frozen Iranian assets. It also asks for an end to oil sanctions and the US naval blockade of Iran.
Araghchi said the choice now rests with the United States.
π The Backstory
The Strait of Hormuz is a narrow passage that carries a large share of the world's oil by tanker. Iran says ships must get permission before passing through it.
The US and Iran signed a memorandum of understanding in June to end the war and reopen the strait. That deal broke down soon after, when Iran fired on commercial ships it said had left the approved route. The US has bombed Iranian coastal areas in return.
π― Why It Matters
Oil shipped through the strait helps set fuel prices around the world. A deal would ease costs for drivers, airlines and shops that depend on transport.
Iran's foreign minister, Abbas Araghchi, told the United Nations that Iran has sent the United States a plan to reopen the Strait of Hormuz. Under the plan, the strait would reopen within seven days of both sides agreeing.
Reports say the plan asks for a seven-day stop to fighting in the Middle East and the release of frozen Iranian assets. It also asks for an end to oil sanctions and the US naval blockade of Iran.
Araghchi said the choice now rests with the United States.
The Strait of Hormuz is a narrow passage that carries a large share of the world's oil by tanker. Iran says ships must get permission before passing through it.
The US and Iran signed a memorandum of understanding in June to end the war and reopen the strait. That deal broke down soon after, when Iran fired on commercial ships it said had left the approved route. The US has bombed Iranian coastal areas in return.
Oil shipped through the strait helps set fuel prices around the world. A deal would ease costs for drivers, airlines and shops that depend on transport.