Iran says it has given the US a "concrete" seven-day plan to reopen the Strait of Hormuz.
Under the proposal, Tehran would reopen the waterway and resume talks on its nuclear programme in seven days if the US lifts its naval blockade, waives oil sanctions and observes a ceasefire that includes Lebanon.
Iranian foreign minister Abbas Araghchi told reporters at the United Nations: "The choice now rests with the United States."
"If the necessary conditions are met, the strait can be reopened and a normal maritime passage restored within seven days," he added.
"The actions that the United States should take are not new. They are all already in the MOU," he said, referring to the memorandum of understanding that Iran and the US agreed in June.
US President Donald Trump has stated he is in no rush to reach a deal, even as inflation is going up amid high oil prices.
But the White House said on Friday that US officials were having positive and constructive conversations with mediators and it was helping to get significant oil exports through the strait.
Iran's main point of leverage has been its disruption of the key waterway where, before the Iran war, 20% of the world's oil and gas passed through, with the effects being felt far beyond the Middle East.
Mr Araghchi said initial steps would take about four to five days to complete and the strait would be open on the sixth day.
"And on day seven, the talks with the US will be started for the final deal on mutually agreed subjects," he said, referring to the nuclear programme.
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The proposal was discussed by the Iranian foreign minister at a private gathering on the sidelines of the UN General Assembly.
The proposal, given to the US by mediators, strongly resembles the memorandum of understanding reached in June, but with an accelerated timetable.
The earlier agreement, which called for a 60-day interim period, quickly collapsed as Iran resumed attacks on shipping in the strait.
On the Iranian side, there are questions as to whether the hardliners who dominate the security forces would accept compromises pushed by moderates such as President Masoud Pezeshkian.
"If Trump calculates this arrangement is worthwhile and can bring political benefit before the midterms and reduce gas prices, perhaps we'll see flexibility not seen in previous weeks," said Trita Parsi of the Quincy Institute thinktank.
But he noted "deep suspicion", particularly around the prospect of Iran merely buying time to get out more of its oil and ease its economic pain.
(c) Sky News 2026: Iran says it has given US 'concrete' seven-day plan to reopen Strait of Hormuz
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