Iran Proposes Seven-Day Strait of Hormuz Reopening Deal to US via Qatar
Iranian Foreign Minister Abbas Araghchi announced a proposal to reopen the Strait of Hormuz within seven days if conditions from a June memorandum are met. The offer, delivered through Qatar, comes amid ongoing tensions following February air strikes and recent threats from President Trump.
Iranian Foreign Minister Abbas Araghchi has announced that Tehran has proposed a deal to the United States to reopen the strategically vital Strait of Hormuz within seven days. The proposal was delivered to Washington via Qatar and is contingent upon meeting necessary conditions outlined in a memorandum of understanding (MOU) signed in June.
The conflict originated on February 28, when the US and Israel launched air strikes on Iran. In response, Iran attacked Israel and US bases, subsequently blocking the strait. Before the war, approximately 20% of the world's oil and liquefied natural gas passed through this waterway. Recent shipping data from Kpler indicates significant disruption, with a 10-day average of about 18 transits per day and daily numbers dropping as low as nine.
Araghchi stated that the reopening depends on fulfilling the terms of the MOU signed on June 18. That agreement included provisions for ending military operations, lifting the US naval blockade, providing sanctions relief, and ensuring safe passage for commercial vessels. However, the MOU collapsed shortly after its signing when both sides resumed strikes.
While a US official told the BBC that positive discussions are occurring through mediators, including regarding nuclear issues, they also noted that the US is in a "very strong position" with control of the Strait of Hormuz and is not in a rush. This stance contrasts with Iranian demands for rapid action based on previous agreements.
Tensions remain high, with President Donald Trump recently threatening to "annihilate the Islamic Republic." Speaking at the UN General Assembly in New York, Trump stated his belief that an Iran deal would come right after November's elections. Meanwhile, Araghchi rejected coercion, emphasizing Iran's willingness to engage only under specific conditions.
Regional instability continues to impact global energy markets. Yemen's Houthis, allied to Iran, have intensified attacks on Saudi oil exports via the Red Sea, seizing stretches of the coast including the port of Mokha. US media reported that Saudi Crown Prince Mohammed bin Salman requested military support from Trump due to these Houthi attacks. The closure of the strait and disruptions in the Red Sea have led to wild fluctuations in energy prices.