Iran Proposes Reopening Strait of Hormuz Within Seven Days, Conditional on US Talks

Iran's chief diplomat Abbas Araghchi proposed to US envoy Steve Witkoff in New York that the Strait of Hormuz could reopen within seven days if certain conditions are met, signaling a potential de-escalation in the Middle East conflict. The proposal marks a notable shift from Iran's previous posture of disrupting maritime traffic, though conditions remain unspecified and talks have not yet begun. Reopening the strait would ease global energy supply concerns, but uncertainty over terms and implementation tempers the market impact.