Iran outlines deal to reopen Strait of Hormuz within seven days

<p>Iran has offered to reopen the Strait of Hormuz and resume talks on its nuclear program in seven days if the United States lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales and observes a ceasefire that would include Lebanon.</p> <p>Iran's Foreign Minister Abbas Araghchi detailed the proposal in a private gathering on Friday on the sidelines of the UN General Assembly in New York, according to one attendee.</p> <p>Trita Parsi, executive vice president of the Quincy Institute think tank, said Araghchi suggested that a speedy agreement would help US President Donald Trump ahead of November's midterm elections. The arrangement would also relieve enormous economic pressure on Tehran as the US piles on additional sanctions.</p> <p>Iran's disruption of the strait — through which a fifth of the world's traded oil and gas transited before the war — has emerged as its main point of leverage.