Iran has offered to reopen the Strait of Hormuz within days and to resume nuclear negotiations immediately, provided Washington lifts its blockade and returns to the June ceasefire framework before the November midterm elections, Iranian officials announced at the United Nations on Thursday.
Under the proposal, Tehran would restore navigation through the waterway in exchange for the lifting of the economic blockade, the easing of restrictions on Iranian oil exports and the release of frozen assets. President Masoud Pezeshkian said the deal must be concluded before Americans vote, adding that Tehran does not wish the matter to reach the midterms.
Foreign Minister Abbas Araghchi said the plan largely follows the terms of the June memorandum and that Iran is awaiting Washington's response. He confirmed the proposal was transmitted through mediators during talks in New York this week.
In a related development, Iranian officials said they have begun charging a toll to every vessel passing through the strait, with the proceeds going into a fund for the reconstruction of ports damaged during the conflict. Shipping companies have reportedly started budgeting for the new fee, and insurers in London have adjusted their rates accordingly.
President Trump, speaking to reporters, said he would consider the offer only if Iran agreed to name the strait after him, adding that he had already instructed the Navy to paint his name on every buoy from the Gulf of Oman to the Persian Gulf.