Iran has submitted a draft memorandum to the United States proposing the immediate reopening of the Strait of Hormuz in return for a temporary lifting of American oil sanctions, according to Iranian state media.
The disclosure marks a significant shift in diplomatic posture, offering a potential mechanism to reduce the geopolitical premium currently embedded in global energy markets.
The proposal, which includes the restoration of safe passage through the critical chokepoint, aims to address the persistent shipping disruptions that have kept freight rates elevated and oil prices volatile.
While the terms suggest a willingness to negotiate, the plan remains a draft and has not been endorsed or confirmed by US authorities.
Market participants are treating the report with caution, noting that previous diplomatic overtures have not always translated into immediate operational changes on the water.
The Strait of Hormuz remains a focal point for global energy security, with approximately one-fifth of the world's oil consumption passing through the narrow waterway.