Iran submits plan to US for reopening Strait of Hormuz within seven days based on June MoU - report

Araghchi added that this deal would build on June's Memorandum of Understanding between the two countries, and would only be implemented if certain conditions were met.

Iran has offered the United States a proposal to reopen the Strait of Hormuz in seven days, Iranian Foreign Minister Abbas Araghchi told reporters at the United Nations General Assembly in New York on Thursday

Araghchi added that this deal would build on June's Memorandum of Understanding between the two countries and would be implemented only if certain conditions were met.

“I think it would be much better if it is done before the midterm election, but it depends on the US administration to decide," Araghchi said, adding that Iran didn't care about the timing and was in no hurry.

Once the US accepted the deal, according to Araghchi, "from the next day, this timetable can start, and after seven days, the strait will be open.”

White House not in a rush for Strait of Hormuz deal

Following the briefing, a White House official told the Financial Times that the US and Iran were having positive discussions through mediators, but refused to comment on the plan Araghchi mentioned.

“The United States is in a very strong position with control of the Strait of Hormuz, so we are not in a rush,” the official said. “Nearly 22 million barrels of oil left the Strait last night.”