Tuesday, 02 January 2024 12:17 GMT

Iran Proposes Reopening Hormuz If US Lifts Blockade, Ends War, Pushes Nuclear Talks To Later Phase: Report


(MENAFN- Live Mint) Iran has proposed easing tensions in the Gulf by offering to lift its chokehold on the Strait of Hormuz in exchange for the United States removing its blockade and bringing the ongoing conflict to an end, according to a report by the Associated Press.

Citing two regional officials familiar with the matter, the news outlet reported that the proposal was discussed during closed-door talks between Iranian and Pakistani officials over the weekend.

The news outlet further reported that Iran suggested separating the broader and more contentious issue of its nuclear programme from the immediate conflict.

The strait, located at the mouth of the Persian Gulf, is a vital route through which roughly one-fifth of global oil and gas trade passes during peacetime. Its disruption has sent shockwaves through global energy markets and contributed to rising oil and fuel prices worldwide.

Diplomatic activity intensifies

The proposal comes amid heightened diplomatic engagement by Tehran. Iran's Foreign Minister Abbas Araghchi arrived in St. Petersburg on Monday for talks with Russian President Vladimir Putin, according to Iran's state-run IRNA news agency.

Speaking in a video shared by IRNA, Araghchi said the visit presented“a good opportunity” to consult with Russia on recent developments in the war and ongoing regional dynamics.

Russia has long been a key ally of Iran, though it remains unclear what role Moscow might play in the current phase of the conflict or whether it would actively support Tehran's latest proposal.

US stance on Iran's nuclear ambitions

Despite the diplomatic overtures, the proposal is unlikely to gain immediate traction in Washington. US President Donald Trump has signalled a hardline stance, particularly on Iran's nuclear ambitions - one of the primary drivers behind the conflict, which began on February 28.

Accepting Iran's offer without addressing the nuclear issue could leave core disagreements unresolved. The US and Israel have both maintained that preventing Iran from developing nuclear weapons remains a key objective.

The proposal was reportedly passed to US officials through Pakistan, which has been playing a mediating role between the two sides. However, Trump recently called off a planned visit by American envoys to Islamabad, suggesting instead that any talks could be conducted remotely.

Economic and geopolitical fallout

The closure has stranded oil tankers in the Persian Gulf and pushed global crude prices sharply higher. The resulting surge in fuel costs has placed political pressure on the Trump administration, particularly ahead of upcoming midterm elections.

The disruption has also driven up the cost of essential goods, including food and fertilisers, amplifying inflationary pressures worldwide.

At the same time, US blockade measures have aimed to choke off Iran's oil revenues, potentially forcing Tehran to curtail production due to storage constraints.

Fragile ceasefire, uncertain path ahead

The proposal comes against the backdrop of a fragile ceasefire between the US and Iran, which Trump extended indefinitely last week. While the truce has largely halted active fighting, a lasting resolution remains elusive in a conflict that has already claimed thousands of lives.

Also Read | Trump says Iran can still call US for talks, reiterates no-nuclear-weapons

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