US and Iran discuss phased deal to reopen Hormuz and end US blockade, sources say
USO•US and Iranian negotiators are exploring a phased arrangement in which Tehran reopens the Strait of Hormuz and Washington lifts its economic blockade. Former US negotiator Dennis Ross put the chance of an agreement before the November 3 midterm elections at 30%.
1. Phased proposal under discussion
US and Iranian negotiators in New York are exploring a phased path out of the nearly seven-month conflict, sources close to the talks said. A senior Iranian official described a possible first step as reopening Hormuz in exchange for the US ending its blockade, with Tehran potentially gaining access to frozen assets.
2. Leverage complicates talks
Sources said neither side wants to surrender its leverage without securing something tangible. Regional sources said Tehran may move its demand for transit fees to a side attachment, while Gulf states reject Iranian control of the strait and have called for freedom of navigation.
3. Midterm timing uncertain
Ross estimated a 30% chance of an agreement before the November 3 midterms, while saying both sides may have stronger reasons to reach a deal before than after the vote. A White House official said Trump remained open to talks under the right circumstances.
