Iran offers to reopen Hormuz within 48 hours – if Washington takes first step

Since late February, the Strait of Hormuz has operated at a small fraction of its usual traffic. A standoff between Washington and Tehran has held tankers back from the chokepoint that typically carries a major share of the world’s seaborne crude, turning the passage into the central lever in a long diplomatic standoff between Tehran, Washington and Gulf exporters.

On Monday, Tehran compressed its demands into a tighter timeline. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said at a press briefing that the country is prepared to restore shipping within 48 hours of Washington implementing an agreed set of initial steps, down from an earlier seven-day proposal floated through Qatari mediators.

“The possibility of implementing this plan in two days is another indication of Iran’s good-faith approach,” Baghaei said, as reported by anews.

What Iran wants in return

Foreign Minister Abbas Araghchi laid out the mechanics in an interview with Al Jazeera, carried by Middle East Eye. He told the broadcaster the plan now cuts implementation to two days: on day one, the US carries out an agreed set of measures; on day two, the strait reopens and navigation is restored to its earlier pattern.

Tehran’s conditions, as Araghchi set them out to Al Jazeera, include formal recognition of a new Iran-Oman shipping route, the lifting of sanctions reimposed earlier this year, a reduced US military footprint in the Gulf, reinstatement of oil export waivers, and the release of Iranian funds frozen abroad, some held in Qatar.

Trump signals, markets move

President Donald Trump told reporters the talks were going “fine” and that Iran “wanted a deal,” though he added that Washington was “not in a hurry.” Secretary of State Marco Rubio said the administration had not yet decided on fresh strikes against Iranian nuclear facilities.

Oil markets reacted at once. WTI crude dropped 4.42% and Brent fell 4.25% as the two-day timeline reached traders, Investing.com reported, citing Trump’s remarks and Baghaei’s briefing.

Shipping still near a standstill

Before hostilities, roughly 140 vessels a day passed through the strait, Al Jazeera reported in August. By summer traffic had fallen about 95%, and transits have remained in the single digits per day since late February.

Qatari mediators continue to shuttle between the two sides. Araghchi said the two-day proposal is now the version on the table.

This article is made and published by Jens Asbjørn Bogen, who may have used AI in the preparation