Iran has offered to reopen the Strait of Hormuz and resume talks on its nuclear programme within seven days, provided the United States lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales and observes a ceasefire that would include Lebanon.
The proposal follows a series of diplomatic overtures aimed at easing tensions in the region. If accepted, the reopening would restore a vital shipping lane that carries roughly a fifth of the world's oil traffic.
Under the conditions set by Tehran, the U.S. would need to remove its blockade of Iranian ports, which has restricted the country's ability to export oil. It would also have to lift sanctions that limit Iranian oil sales, and agree to a ceasefire that extends to Lebanon.
Iran’s offer is part of a broader attempt to revive stalled negotiations over its nuclear programme, which have been a source of international concern for years.
<small>Source: PBS NewsHour — read the original story there.</small>