Speaking to reporters on the sidelines of the UN General Assembly in New York, Araghchi said the strait could be reopened and normal passage restored within seven days if Washington meets the conditions set out in a memorandum of understanding (MoU) agreed between the two countries in June.   “If the necessary conditions are met, the strait can be reopened, a normal maritime passage restored within seven days. The choice now rests with the United States,” Araghchi said. He did not detail all of Tehran’s demands, but said the required US actions were not new and were already contained in the June MoU. The agreement had provided for a cessation of military operations, the lifting of the US naval blockade of Iranian ports, measures to facilitate commercial shipping through Hormuz and further negotiations over Iran’s nuclear programme.   Iran’s latest proposal was reportedly conveyed to Washington through mediators. A US official said positive discussions were taking place through intermediaries, including on nuclear issues.   The Strait of Hormuz has remained a major flashpoint since the conflict escalated. Iran has attacked vessels it says attempted to transit the waterway without authorisation, while the United States has carried out strikes on Iranian positions and maintained pressure on Iranian maritime and oil infrastructure.   The disruption has had significant consequences for global energy and shipping markets. The Strait of Hormuz is a critical route for international oil and LNG shipments, and restrictions on traffic have contributed to sharp volatility in energy prices.   The latest diplomatic initiative comes amid heightened pressure for a settlement. US President Donald Trump has publicly threatened further military action against Iran while also indicating that he expects negotiations to resume following the US congressional elections.   Araghchi rejected negotiations under threat, saying Iran would not accept “coercion, threats or intimidation” and that “peace cannot be built through threats of annihilation.”

For the shipping industry, any agreement that restores unrestricted and predictable navigation through Hormuz would have significant implications for vessel movements, energy supplies, freight markets and global trade flows. The proposed seven-day timeline, however, remains conditional on agreement between Washington and Tehran.