Iran has presented a draft memorandum to the United States proposing the reopening of the Strait of Hormuz in exchange for the lifting of American oil sanctions, according to Iranian state media.
The draft version of the proposed memorandum of understanding explicitly outlines a U.S. commitment to remove oil sanctions alongside a Tehran pledge to restore unrestricted shipping through the critical chokepoint, Iranian state media reported Friday.
The proposal marks a significant diplomatic shift, moving from verbal posturing to a concrete, albeit unverified, framework for de-escalation.
If validated by Washington, the deal would directly address the primary supply risk currently underpinning energy markets.
Reopening the strait would immediately alleviate the physical bottleneck that has been driving freight rates higher and forcing rerouting around the Cape of Good Hope.
Market participants are closely monitoring the development for signs of official U.S. engagement.