Iran offers US deal to reopen Strait of Hormuz in seven days
Iran's Foreign Minister Abbas Araghchi has proposed a deal to the United States that could reopen the Strait of Hormuz within seven days, provided certain conditions are met as outlined in a June memorandum of understanding. This offer was delivered to the US via Qatar. A US official confirmed to the BBC that "constructive discussions" are underway through mediators, which also include nuclear issues. The Strait of Hormuz, a vital shipping route for approximately 20% of global oil and LNG, was previously blocked by Iran following air strikes launched by the US and Israel. The closure has significantly impacted energy prices and increased pressure on the US administration, especially with upcoming Congressional elections.