Iran has offered to relinquish its tight grip on the Strait of Hormuz without making any concessions on its nuclear program, according to officials familiar with the proposal. The offer comes as part of a broader initiative that also calls on the United States to end its naval blockade of the country, with Tehran accusing Washington of derailing previous diplomatic efforts in Pakistan.
Diplomatic Efforts Continue
Iranian Foreign Minister Abbas Araghchi is currently in Russia for talks with President Vladimir Putin, following stops in Pakistan and Oman—the latter sharing control of the strategic waterway with Iran. Araghchi described his visit to Moscow as an opportunity to coordinate with Russian allies on recent developments related to the ongoing conflict. 'It is a good opportunity for us to consult with our Russian friends about the developments that have occurred in relation to the war during this period and what is happening now,' he stated.
Blame Game Over Failed Talks
Araghchi attributed the collapse of negotiations planned in Islamabad to Washington's approach, claiming that 'the previous one, despite the progress that had been made, could not achieve its goals' due to what he termed America's 'excessive demands.' The US, for its part, had canceled plans for senior envoys to travel to Islamabad for talks after Iran insisted that the US must first lift its blockade of Iranian ports before any new negotiations could commence.
Oil Markets React
Meanwhile, oil prices rose on Monday as the standoff between the US and Iran over the Strait of Hormuz persisted, despite a ceasefire in the region. Pakistani mediators are working to bridge the significant gaps between the two nations, according to a regional official involved in the mediation who spoke on condition of anonymity. The official noted that Pakistan-led efforts aim to revive stalled talks, though substantial differences remain.
