US and Iran explore phased Hormuz deal, no agreement reached

The United States and Iran are exploring a phased arrangement that could pair Iran’s reopening of the Strait of Hormuz with Washington’s lifting of its economic blockade, according to accounts from people familiar with the discussions. No agreement has been reported, and the proposed terms remain exploratory. A senior Iranian official said the first stage could involve ending the blockade and restoring shipping through the strait. The official also raised the possibility that Iran could regain access to frozen assets. The comments were made on the sidelines of the United Nations General Assembly in New York, where the negotiations are taking place, according to the accounts. The discussions seek to address competing priorities: Tehran wants relief from US economic pressure, while Washington wants unrestricted maritime traffic through a route important to global oil shipments. The talks remain difficult, with both sides reluctant to relinquish leverage before securing concessions, people familiar with them said. The sources did not provide an agreed text or confirm that either government had accepted the proposed sequence.