NEW YORK — American and Iranian negotiators are discussing a phased arrangement under which Iran would reopen the Strait of Hormuz and the United States would lift its economic blockade. Iran could also regain access to some frozen assets, but both sides remain reluctant to surrender their main bargaining leverage first.
Hormuz has become the central issue in efforts to end the nearly seven-month conflict. Officials caution that major disagreements and questions about enforcing any new arrangement remain unresolved.
Why it matters: Restoring safe navigation through Hormuz could stabilize oil supplies, reduce shipping costs and create an opening for ending the wider conflict.
