United States and Iranian negotiators are exploring a phased agreement that would see Tehran reopen the Strait of Hormuz in exchange for Washington lifting its blockade of Iranian ports, according to a person familiar with the discussions.
The two sides were making a push for a breakthrough on Thursday on the sidelines of the United Nations General Assembly in New York, with Qatari officials mediating the negotiations. The person spoke on condition of anonymity, saying they were not authorised to discuss private matters.
A sequenced arrangement would resemble the memorandum of understanding the US and Iran struck in mid-June, which produced a fragile ceasefire that collapsed just weeks later.
### Conditions on both sides
The talks remain fragile. Iran's foreign minister, Abbas Araghchi, told journalists and academics in New York that Tehran had offered Washington a new seven-day proposal to reopen the strait if certain conditions were met, according to the Financial Times.
Iran's conditions include an immediate end to the US naval blockade, the unfreezing of Iranian assets and an end to the war "on all fronts" — the last an apparent reference to Israel's campaign against Iran-backed Hezbollah in Lebanon, according to Iranian state media reports.
A White House official, meanwhile, said President Donald Trump remained open to talking with Iran but stressed that the United States did not need to negotiate from a position of weakness, given an escalating sanctions campaign and the ongoing naval blockade pressuring Iran's economy.
### Markets react, oil eases
Oil prices fell on the reports. Global benchmark Brent slid toward $106 a barrel after climbing more than 7% over the previous two days, reflecting relief at the prospect of one of the world's most critical shipping lanes reopening.
Off-and-on negotiations between Washington and Tehran have broken down repeatedly since the war began, mostly over disagreements about the strait and when Iran would regain access to billions of dollars in frozen funds.
Iranian President Masoud Pezeshkian, who was in New York for the UN summit, used his speech to stress that Tehran would not allow freedom of navigation through Hormuz while sanctions and the US blockade remain. "We have not closed the Strait of Hormuz," he told Fox News in an interview broadcast on Thursday. "It was open without any legal justification or framework. They attacked us."
Trump told reporters on Tuesday that US and Iranian officials had spoken in New York, and special envoy Steve Witkoff said mediators had spent much of the day shuttling between the two delegations.
Sources: [US, Iran said to be exploring phased deal to open Hormuz | BusinessMirror](https://businessmirror.com.ph/2026/09/25/us-iran-said-to-be-exploring-phased-deal-to-open-hormuz/) | [US and Iran discuss phased deal to reopen Hormuz and end US blockade, sources say | LA Post (Reuters)](https://www.lapost.com/content/us-and-iran-discuss-phased-deal-to-reopen-hormuz-and-end-us-blockade-sources-say)
The two sides were making a push for a breakthrough on Thursday on the sidelines of the United Nations General Assembly in New York, with Qatari officials mediating the negotiations. The person spoke on condition of anonymity, saying they were not authorised to discuss private matters.
A sequenced arrangement would resemble the memorandum of understanding the US and Iran struck in mid-June, which produced a fragile ceasefire that collapsed just weeks later.
### Conditions on both sides
The talks remain fragile. Iran's foreign minister, Abbas Araghchi, told journalists and academics in New York that Tehran had offered Washington a new seven-day proposal to reopen the strait if certain conditions were met, according to the Financial Times.
Iran's conditions include an immediate end to the US naval blockade, the unfreezing of Iranian assets and an end to the war "on all fronts" — the last an apparent reference to Israel's campaign against Iran-backed Hezbollah in Lebanon, according to Iranian state media reports.
A White House official, meanwhile, said President Donald Trump remained open to talking with Iran but stressed that the United States did not need to negotiate from a position of weakness, given an escalating sanctions campaign and the ongoing naval blockade pressuring Iran's economy.
### Markets react, oil eases
Oil prices fell on the reports. Global benchmark Brent slid toward $106 a barrel after climbing more than 7% over the previous two days, reflecting relief at the prospect of one of the world's most critical shipping lanes reopening.
Off-and-on negotiations between Washington and Tehran have broken down repeatedly since the war began, mostly over disagreements about the strait and when Iran would regain access to billions of dollars in frozen funds.
Iranian President Masoud Pezeshkian, who was in New York for the UN summit, used his speech to stress that Tehran would not allow freedom of navigation through Hormuz while sanctions and the US blockade remain. "We have not closed the Strait of Hormuz," he told Fox News in an interview broadcast on Thursday. "It was open without any legal justification or framework. They attacked us."
Trump told reporters on Tuesday that US and Iranian officials had spoken in New York, and special envoy Steve Witkoff said mediators had spent much of the day shuttling between the two delegations.
Sources: [US, Iran said to be exploring phased deal to open Hormuz | BusinessMirror](https://businessmirror.com.ph/2026/09/25/us-iran-said-to-be-exploring-phased-deal-to-open-hormuz/) | [US and Iran discuss phased deal to reopen Hormuz and end US blockade, sources say | LA Post (Reuters)](https://www.lapost.com/content/us-and-iran-discuss-phased-deal-to-reopen-hormuz-and-end-us-blockade-sources-say)
