US and Iranian negotiators are exploring a phased agreement as of September 25, 2026, under which Tehran would reopen the Strait of Hormuz and Washington would lift its blockade of Iranian ports. The negotiations took place on the sidelines of the UN General Assembly, with oil prices declining on news of the potential breakthrough.
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Diplomacy will be challenged by both sides’ unwillingness to surrender leverage.
The two countries — which have refused to make similar deals before — were pushing for a breakthrough on the sidelines of the U.N. General Assembly.
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US and Iranian negotiators are exploring a phased deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports, similar to the memorandum of understanding struck in mid-June. Charles Gorrivan reports on Bloomberg Television. (Source: Bloomberg)
Oil prices declined as US and Iranian negotiators explored a plan that would see Tehran reopen the Strait of Hormuz. The two countries were pushing for a breakthrough on the sidelines of the United Nations General Assembly, a person familiar said. With geopolitics at the forefront as UNGA nears its end, we hear from Carolyn Rodrigues Birkett, Permanent Representative of Guyana to the UN & Cuba's D