Iran offers US deal to reopen Strait of Hormuz in seven days

September 26, 2026

Iran has proposed a deal through Qatar to reopen the Strait of Hormuz within seven days if certain conditions outlined in a June memorandum of understanding are fulfilled. The strait, which previously handled 20% of global oil and liquefied natural gas shipments, has been blocked since Iran closed it following US-Israeli airstrikes in February and subsequent Iranian counterattacks. According to reports, President Trump has privately rejected the Iranian proposal and views renewed bombing as the more likely outcome, though official discussions continue through mediators.

Who is affected

Iran
United States
Israel
US bases in the Gulf
Arab Gulf allies of the US
Qatar (serving as mediator)
Oman (mentioned in shipping negotiations)
Yemen's Houthis
Saudi Arabia
UN nuclear inspectors
Global energy consumers dependent on oil and liquefied natural gas transit
The Iranian economy

What action is being taken

Positive discussions are taking place through mediators, including Qatar
The US is maintaining a blockade of Iranian ports
The US is attacking Iranian sites in the strait and Iranian tankers off the coast
Iran is attacking vessels attempting to cross the Strait of Hormuz without authorization
Some vessels are transiting through the strait (approximately 18 per day on a 10-day average)
Yemen's Houthis are intensifying attacks on Saudi Arabian oil exports via the Red Sea

Why it matters

The Strait of Hormuz previously handled 20% of the world's oil and liquefied natural gas shipments, so its closure has caused wild fluctuations in energy prices globally. The situation has created significant economic disruption to Iran through the US naval blockade and increased political pressure on President Trump to resolve the conflict, particularly as the US approaches Congressional elections in November. The ongoing military conflict and closure of this critical chokepoint threatens global energy security and regional stability.

What's next

Iran says if the US accepts the deal, the ceasefire process "will begin from the very day they accept it"
Iran will allow UN nuclear inspectors into the country
Iran and the UN can reach accords and agreements on inspections within the negotiations
The US is expected to deliver its official response to the proposal
Iran would hold talks with Oman over future shipping arrangements (if the deal proceeds)

Read full article from source: BBC