Iran Urges US to Accept Proposal to Reopen Strait of Hormuz
Iran's foreign minister, Abbas Araghchi, said on Sunday that Tehran's proposal to reopen the Strait of Hormuz within seven days remains on the table. Iran presented the proposal in mid-September after an interim ceasefire collapsed, and its conditions include lifting the US blockade on Iranian ports, lifting US sanctions on oil exports and ending hostilities on all regional fronts. Araghchi said the strait could reopen within six days if Washington accepts the conditions, while the US has insisted on addressing Iran's nuclear program from the outset.
Why it matters: The stalled proposal bears on energy security because the Strait of Hormuz carried about a fifth of global oil and LNG trade before the war.