Iran offers to reopen Strait of Hormuz, but Trump seems unlikely to accept

U.S. President Donald Trump seems unlikely to accept the offer, which was passed to the Americans by Pakistan and would leave unresolved the disagreements that led the U.S. and Israel to go to war on Feb. 28.

With a fragile ceasefire in place, the U.S. and Iran are locked in a standoff over the strait, through which a fifth of the world’s traded oil and gas passes in peacetime. The U.S blockade is designed to prevent Iran from selling its oil, depriving it of crucial revenue while also potentially creating a situation where Tehran has to shut off production because it has nowhere to store oil.

The strait’s closure, meanwhile, has put pressure on Trump, as oil and gasoline prices have skyrocketed ahead of crucial midterm elections, and it has pressured his Gulf allies, which use the waterway to export their oil and gas.

The closure has also had far-reaching effects throughout the world economy, raising the price of fertilizer, food and other basic goods.

The Iranian proposal would push negotiations on the country’s nuclear program to a later date. Trump said one of the major reasons he went to war was to deny Iran the ability to develop nuclear weapons.

The two officials with knowledge of the proposal spoke on condition of anonymity to discuss the closed-door negotiations between Iranian and Pakistani officials this weekend. Iran’s proposal was first reported by the Axios news outlet.

The offer emerged as Iran’s foreign minister visited Russia, which has long been a key backer of Tehran. It’s unclear what, if any, assistance Moscow might offer now.

Strait of Hormuz is still blocked

Iran’s ability to choke off traffic in the Strait of Hormuz, the narrow mouth of the Persian Gulf, has proved one of its biggest strategic advantages in a war that has often boiled down to which side can take more pain.

Oil prices have risen steadily since the war began, and tankers full of crude became stranded in the Gulf, unable to safely pass through the strait to reach global distribution points.

On Monday, the spot price of Brent crude, the international standard, was trading at around $108 per barrel, nearly 50% higher than when the war began.

Top Iranian diplomat meets Putin in Russia

Trump last week indefinitely extended the ceasefire the U.S. and Iran agreed to on April 7 that has largely halted fighting. But a permanent settlement remains elusive in the war that has killed thousands of people.

Iranian Foreign Minister Abbas Araghchi met with Russian President Vladimir Putin on Monday in St. Petersburg, Russian state news agency Tass said. Putin praised the Iranian people as “bravely and heroically fighting for their sovereignty,” and said Russia would do everything possible to bring peace to the Middle East, Tass reported.

Araghchi said before the meeting in a video interview posted by Iran’s state-run IRNA news agency that it was “a good opportunity for us to consult with our Russian friends about the developments that have occurred in relation to the war during this period and what is happening now.”

The meeting came as Pakistan has been seeking to revive stalled talks between Iran and the U.S., and negotiations had been expected in Islamabad over the weekend. Instead, Trump called off a trip by his envoys and suggested the talks could take place by phone instead.

Over the weekend, Araghchi made two stops in Pakistan and a visit to Oman, which shares the strait with Iran. He also spoke by phone with counterparts in Qatar and Saudi Arabia on Sunday.

Iran wants to persuade Oman to support a mechanism to collect tolls from vessels passing through the strait, according to a regional official who spoke on condition of anonymity because he was not authorized to discuss the matter.

Oman’s response was not immediately clear.

The official, who is involved in mediation efforts, also said Iran insisted on ending the U.S. blockade before new talks and that Pakistan-led mediators are trying to bridge significant gaps between the countries.

Trump says Iran has offered a ‘much better’ proposal

Trump told journalists Saturday that after he called off a trip by his envoys to Pakistan, Iran sent a “much better” proposal.

He did not elaborate but stressed that one of his conditions is that Iran “will not have a nuclear weapon.” Iran insists its program is peaceful, but the U.S. wants to remove Tehran’s stockpile of highly enriched uranium, which could be used to build a bomb, should Tehran choose to pursue one.

Since the war began, at least 3,375 people have been killed in Iran and at least 2,521 people in Lebanon, where fighting between Israel and the Iran-backed Hezbollah militant group resumed two days after the Iran war started. Another 23 people have been killed in Israel and more than a dozen in Gulf Arab states. Fifteen Israeli soldiers in Lebanon, 13 U.S. service members in the region and six U.N. peacekeepers in southern Lebanon have been killed.

The ceasefire between Israel and Hezbollah has been extended by three weeks. Despite the truce, both sides continue to strike each other, and Israeli forces have been occupying a buffer zone in Lebanon, demolishing some neighborhoods.

Hezbollah has not participated in the Washington-brokered diplomacy.

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Gambrell reported from Dubai, United Arab Emirates, and Becatoros reported from Athens, Greece. Associated Press writer Munir Ahmed in Islamabad contributed to this report.