By Vaughn Cockayne (The Washington Times)
UNITED NATIONS — Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran proposed a seven-day plan to U.S. negotiators this week to end the war, one that would reopen the Strait of Hormuz, ease sanctions and begin talks on his country’s nuclear program.
Speaking at a press conference on the sidelines of the U.N. General Assembly in New York City, Mr. Araghchi said the Iranian proposal appeared very similar to the Islamabad memorandum of understanding, which both countries signed in June.
The memorandum mandated a comprehensive ceasefire “on all fronts,” ended the U.S. naval blockade of Iran and opened the door for 60-days worth of comprehensive negotiations over sanctions and the Iranian nuclear program.
The agreement fell apart in July after fighting broke out over control of the Strait of Hormuz, which Iran has kept effectively closed since March.
Unlike the memorandum, the new seven-day plan would have a much faster pace, Mr. Aragchi said.
“We have introduced a plan to the United States through the intermediaries that if certain conditions are met, the Strait of Hormuz would be open at the end of the seventh day and talks would restart,” Mr. Araghchi said.
The conditions to reopen the strait, according to Mr. Araghchi, would be a complete ceasefire, including in Lebanon, the release of over $12 billion of Iran’s frozen assets, the lifting of the U.S. blockade and waivers on oil sanctions.
The proposal comes after U.S. and Iranian diplomats held a three-hour discussion through mediators at the U.N. earlier this week. While President Trump described the talks as productive and said the two parties would meet again soon, very little has been confirmed about what was discussed during the meeting.
Secretary of State Marco Rubio told reporters Wednesday that the discussions with Iran did not result in any major developments on the peace front.
Additionally, both Mr. Trump and Iranian President Masoud Pezeshkian delivered harsh and defiant speeches before the General Assembly this week, with both insisting they would not back down when challenged.
Mr. Trump launched the war with Iran with Israel in late February, promising to eliminate Iran’s nuclear program and help foster regime change.
While the nuclear issue has remained a stated priority for U.S. officials in talks with Iran, the Strait of Hormuz has emerged as the key negotiating issue and the most important leverage point for both nations.
Nearly one-fifth of the world’s oil and natural gas supply comes through the strait each year, and Iran’s decision to close the waterway has had massive implications for global energy prices.
Brent crude, the international benchmark for crude oil, has hovered around $100 a barrel for most of September.
Higher crude oil prices have translated to higher prices on gasoline in the U.S. The U.S. national average price for a gallon of regular gasoline is $4.49, according to AAA Fuel Prices.
High gas prices have put a damper on the prospects for Republicans to maintain control of the House of Representatives and the Senate in November’s midterm elections.
The U.S. military’s own counter-blockade on Iran has put tremendous pressure on Tehran’s economy as well. Iran’s currency, the rial, has faced significant devaluation over the past few months, and the blockade has made it increasingly difficult for Iranians to access basic medical supplies and food items.
This article was made available to WMAL via The Washington Times.
