Iran has renewed its call for the United States to accept a proposal to reopen the Strait of Hormuz, with Foreign Minister Abbas Araqchi saying on Sunday, October 18, that the offer remains available.
Speaking in Baghdad, Araqchi said Tehran was reviewing comments received from Washington. Reuters reported that Iran’s conditions include ending the US blockade of its ports, lifting sanctions on Iranian oil exports and stopping hostilities across regional fronts.
Under the proposed timetable, shipping could resume within six days of US acceptance, with talks restarting the following day. The announcement describes a conditional offer, rather than an agreement to reopen the route.
The two sides remain divided over the order of negotiations. Washington wants Iran’s nuclear programme addressed at the outset, while Tehran wants the initial focus to be on shipping and security in the waterway, according to Reuters.
The economic stakes extend well beyond the Gulf. Historical data from the US Energy Information Administration show that about one-fifth of global liquefied natural gas trade passed through Hormuz in 2024, largely from Qatar. Most of those cargoes went to Asian markets.
The agency’s August 2026 energy-security assessment estimated that oil flows through the strait had fallen to 4.9 million barrels a day in the second quarter of this year, compared with 21.6 million barrels a day in the final quarter of 2025. Those figures describe earlier periods, not current daily shipping traffic.
For now, Araqchi’s latest remarks leave the reopening timetable dependent on a diplomatic breakthrough. The six-day period would begin only if Washington accepts Tehran’s conditions.
