US, Iran said to be exploring phased deal to reopen Hormuz

Fiona MacDonald / Bloomberg09-25

Iranian President Masoud Pezeshkian used his UN speech to stress Tehran wouldn't allow freedom of navigation through the Strait of Hormuz while sanctions and a US naval blockade remain in place.(Sept ...

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Qatari officials are mediating the negotiations. \nA sequenced deal would be similar to the memorandum of understanding that the US and Iran struck in mid-June, which led to a fragile ceasefire that collapsed just weeks later. \nA White House official said President Donald Trump remains open to talking with Iran but stressed the US didn't need to negotiate because it was in a strong position as a result of an escalating sanctions campaign and an ongoing naval blockade pressuring Iran's economy. \nTalks about a potential phased deal were reported earlier Thursday by Reuters.\nIranian Foreign Minister Abbas Araghchi told a group of journalists and academics in New York that his country offered the US a new seven-day proposal to reopen the Strait of Hormuz if certain conditions were met, the Financial Times reported. \nOil fell on reports that US and Iranian negotiators were exploring a phased deal, with global benchmark Brent sliding towards US$106 ($136) a barrel after rising more than 7% over the previous two days.\nOff-and-on negotiations between Washington and Tehran have broken down numerous times since the war began, mostly over disagreements related to the Strait of Hormuz and when Iran would get access to billions in funds frozen by the US.\nIranian President Masoud Pezeshkian, who was in New York for the UN summit, used his speech to stress Tehran wouldn't allow freedom of navigation through the Strait of Hormuz while sanctions and a US naval blockade remain in place. \nAraghchi represented Tehran in the talks and outlined its \"firm positions\" on reopening Hormuz, according to Iranian state media. Those conditions include the US immediately lifting a naval blockade, unfreezing Iranian assets and ending the war \"on all fronts\", according to Iranian reports, an apparent reference to Israel's campaign against Iran-backed Hezbollah militants in Lebanon.\n\"We have not closed the Strait of Hormuz,\" Pezeshkian said in an interview with Fox News broadcast on Thursday evening. \"It was open without any legal justification or framework. They attacked us.\"\nTrump told reporters on Tuesday that US and Iranian officials had spoken in New York amid the flurry of UN meetings. His comments lifted stocks and pushed down oil prices. \nThe American president has repeatedly said the US and Iran were close to a deal with no results. He's also threatened Tehran with military escalation multiple times - including a threat to \"annihilate\" the country earlier this week - without following through.\nWhite House special envoy Steve Witkoff said on social media this week that mediators had spent much of the day shuttling between US and Iranian officials during extended discussions.\nUploaded by Tham Yek Lee","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.50.1","shortVersion":"4.50.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2670295774","isCrawlerRequest":true}