Araqchi tells Iranian cabinet US has sent a proposal
Iran's foreign minister briefed the cabinet on the proposal's arrival, a government spokesperson said, as talks over the Strait of Hormuz drag on
Published
Map: The Gulf and Hormuz, marking Strait of Hormuz
Iran's foreign minister Abbas Araqchi told the Iranian cabinet that the United States has sent a proposal, a government spokesperson said.
Qatari mediators had floated terms that would let traffic move freely through the Strait of Hormuz in exchange for the US easing its blockade of Iranian ports. Optimism over that framework unraveled after President Trump denied offering Tehran anything, then said Iran is doing very poorly and that he is uncertain whether the country will capitulate.
Iran's own deadline for a US reply on reopening the Strait passed unanswered on Tuesday, the Financial Times reported. Iran has repeated that it will not compromise on its nuclear rights even as mediators reported progress on a Hormuz-for-blockade swap.
A cabinet briefing on a proposal is a procedural step, one of several in a mediation cycle that has produced repeated claims of progress followed by contradictions from Trump within hours. With Washington showing no stated urgency and Iran continuing to sequence its demands, the briefing alone does not confirm substance behind any deal. Traders are likely to keep the Hormuz-linked risk premium in crude intact rather than move it, leaving oil markets little changed until a signed outcome emerges.