Iran offers to reopen Strait of Hormuz without nuclear deal

A standoff continues in the Strait of Hormuz, the narrow entrance to the Persian Gulf through which one-fifth of the world's oil and natural gas is transported, as Iran has limited access and the United States has imposed a blockade on Iranian ports.

Iran is willing to lift its restrictions on the Strait of Hormuz without addressing its nuclear ambitions, according to two regional officials familiar with the proposal who spoke on Monday.

Additionally, Iran is requesting that the US lift its blockade on the nation as part of this proposal, the officials, who wished to remain anonymous due to the confidential nature of the discussions, revealed.

This new proposal, conveyed to the United States by Pakistan, is unlikely to gain the support of US President Donald Trump, who insists that Iran’s nuclear programme must be resolved as part of a comprehensive agreement to reopen the Strait of Hormuz and establish a lasting ceasefire.

“We hold all the cards. If they wish to negotiate, they can come to us or reach out by phone,” Trump stated on Sunday during an interview with Fox News Channel.

The closure of the strait has intensified pressure on Trump, as oil and gasoline prices have surged ahead of critical midterm elections, also affecting his Gulf allies who rely on the waterway for their oil and gas exports.

Moreover, the closure has had significant repercussions on the global economy, driving up the costs of fertilizer, food, and other essential commodities.

The proposal would defer discussions regarding Iran’s nuclear programme to a later time.