The Strait of Hormuz could reopen within seven days under a proposal from Iran, potentially easing pressure on one of the world's most important oil shipping routes.

Iranian Foreign Minister Abbas Araghchi said on Thursday, September 24, that Tehran had sent the United States a proposal through intermediaries. Under the plan, Iran would reopen the Strait of Hormuz at the end of seven days if Washington met specified conditions, while nuclear negotiations would also restart.

The development matters far beyond Iran and the United States. Hormuz is a major route for global oil shipments, meaning continued disruption can affect energy prices, transportation costs and household expenses in countries far from the Middle East.
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“We have introduced a plan to the United States through the intermediaries that if certain conditions are met, the Strait of Hormuz would be open on the end of the seventh day and talks would restart,” Araghchi said.

The proposal has not yet become an agreement. The United States has not accepted the terms publicly, and questions remain over whether all sides can reach a deal and whether the proposed reopening would hold.

For millions of people watching fuel and living costs, what happens in the Strait of Hormuz could have consequences far beyond the region.