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Iran's Foreign Minister Abbas Araghchi has confirmed that Tehran and Washington are engaged in "indirect negotiations" through mediators, as part of a seven-day ceasefire proposal presented by Iran in September. The discussions focus on lifting the U.S. naval blockade in the Strait of Hormuz and releasing frozen Iranian assets.
Araghchi emphasized the need for the U.S. to demonstrate a sincere desire for diplomacy by lifting the blockade. In an op-ed in the Financial Times, he stated, "Iran is prepared to give diplomacy another chance if we see strong evidence of a sincere desire on the part of the U.S. to achieve a just and honorable solution to permanently end this conflict." He reiterated this stance in an interview with Iraqi media, urging the U.S. to return to the Islamabad Memorandum of Understanding, which had previously collapsed.
The U.S. has shown little interest in returning to the June memorandum, instead increasing economic pressure on Tehran and focusing on Iran's nuclear program. President Donald Trump has frequently threatened new strikes on Iran, suggesting military action could resume after the November 3 midterm elections.
Iranian President Masoud Pezeshkian expressed distrust towards the U.S., stating, "Our nation today does not trust the United States and believes that if we negotiate, they will attack us again," during a meeting with Pakistan's Army Chief Asim Munir, one of the main mediators.
The ongoing tension has led to disruptions in the Strait of Hormuz, impacting global oil prices. Brent crude rose above $110 per barrel as attacks on shipping continued to affect traffic through the waterway.
Iran has warned that the Strait of Hormuz will remain closed until the U.S. meets its conditions. Araghchi stated, "Until an agreement or understanding is reached regarding this strait, it will not be open to everyone," as reported by The National News.
The situation remains tense, with both sides preparing for potential military action. The U.S. has developed strike plans, and Iran has threatened retaliation against regional infrastructure if attacked.