Iranian Foreign Minister Abbas Araghchi has said that the country has reduced the timeline for implementing its proposed plan to reopen the Strait of Hormuz to two days during negotiations.
Araghchi said on Saturday, October 31, that Iran wants ships to pass through only the shipping route agreed upon with Oman in the Strait of Hormuz, while other routes remain closed.
The Iranian foreign minister said reopening the Strait of Hormuz under Iran’s terms could pave the way for the resumption of negotiations with the United States on unresolved issues.
The Strait of Hormuz is one of the world’s most important oil transit routes, and a significant share of the region’s oil and liquefied natural gas exports passes through this waterway.
Any restrictions on vessel traffic through the strait could affect global energy markets.
