U.S. and Iran Explore Phased Plan to Reopen Strait of Hormuz
The proposal would pair restored shipping with eased U.S. economic restrictions and potential partial access to frozen Iranian assets.
U.S. and Iranian negotiators are exploring a phased arrangement to restore shipping through the Strait of Hormuz, a move that could ease pressure on oil markets and broader risk assets.
The discussions in New York center on reopening the waterway while the United States relaxes economic restrictions on Iran. A possible first step would restore shipping, followed by limited access to frozen Iranian assets as part of a wider agreement.
The two sides have not resolved how to divide the concessions. Iran is prioritizing relief from the economic restrictions and may move any demand for transit fees into a supplemental document, while maintaining its position on managing the strait.
The Strait of Hormuz has become a central bargaining issue as Washington and Tehran seek a phased path out of a conflict that has lasted nearly seven months. Gulf states are pressing for free navigation and a diplomatic de-escalation.
Any progress would be closely watched across oil markets, inflation expectations, risk assets and crypto markets. An agreement remains uncertain, with both sides reluctant to give up leverage first.
