Iran has formally handed the United States, through intermediaries, a new seven-day plan to unblock the Strait of Hormuz. The initiative was announced by Iranian Foreign Minister Abbas Araghchi, according to infohub.kz.
"If the necessary conditions are met, the strait can be reopened and normal shipping can be restored within seven days," the head of Iran's foreign ministry said.
According to statements from the Iranian side, as well as reports by The Financial Times and The Washington Post, the clock will start ticking the day after Washington accepts the proposed memorandum.
It was previously reported that Iran is prepared to fully reopen the strait by the end of the seventh day if the American side fulfills a series of conditions.
The first is a cessation of hostilities: a complete halt to the active phase of military operations in the region, including Lebanon.
The second is the lifting of the blockade: an end to the US naval blockade of Iranian ports and tankers.
The third is financial concessions: the unfreezing of Iran's foreign bank assets, valued at a minimum of 12 billion dollars.
The fourth is oil sanctions: the removal of American restrictions on Iranian oil exports.
Earlier, Kursiv reported that US President Donald Trump threatened to "destroy" Iran if a peace agreement is not reached.