Summary

Iran offers to reopen Strait of Hormuz – media The Strait of Hormuz could reopen within seven days if the US eases military pressure and lifts its blockade of Iranian ports, according to media reports citing a senior Iranian official. The strait is one of the world’s most important energy routes, normally carrying around a fifth of global oil and liquefied natural gas shipments. Shipping has largely stopped since the US-Israeli war with Iran began in late February, disrupting supplies and driving energy prices higher. Tehran has proposed that Washington declare its readiness to resolve the conflict through diplomacy and agree on a timeline for further steps, the official told Reuters on Tuesday. The proposal was conveyed to the US through mediators last week as world leaders gather in New York for the UN General Assembly. The event is a “golden opportunity for the US to return to diplomacy,” the official said, adding that the Iranian delegation had full authority to revive negotiations. US Secretary of State Marco Rubio told NBC that the administration was prepared to speak with Tehran if negotiations had the prospect of producing a positive outcome. The official noted that there were no plans for Iranian President Masoud Pezeshkian and US President Donald Trump to meet directly at the General Assembly, although Trump signaled on Sunday that he would be open to such a meeting. Iran has set broader conditions for ending the conflict. Supreme National Security Council Secretary Mohsen Rezaei said on Saturday that Tehran had conveyed seven demands to Washington through mediators, including an end to hostilities, the release of frozen Iranian assets, and the lifting of the naval blockade. Previous attempts to halt the fighting have been fruitless. A memorandum of understanding agreed by the US and Iran in June was followed by renewed hostilities, while no face-to-face talks are known to have taken place since July. US government data show that oil flows through Hormuz fell from 21.6 million barrels per day in the final quarter of 2025 to 4.9 million in the second quarter of this year. Tensions rose again this week after Trump said he was in “deciding mode” over Iran and weighing further military action, economic pressure, or a deal. Iran’s Islamic Revolutionary Guard Corps responded by warning that another US attack would prompt Tehran to expand the scope of the conflict and use different weapons. Washington has also threatened further economic pressure. Treasury Secretary Scott Bessent said on Monday that companies providing Iranian airlines with fuel, airport services, or ticketing could be denied access to the US dollar system.