In brief

• Iran has told Washington it could reopen the Strait of Hormuz within about two days if its demands are met.
• Qatar is mediating a package that ties shipping access to UN nuclear inspections at bombed sites.
• Trump signals progress while attacks in the strait continue and oil prices have fallen sharply.

Iran lays out a two-day reopening timetable

Tehran has told the United States it could reopen the Strait of Hormuz within roughly two days and resume nuclear talks, a process that had earlier been expected to take about a week (Iran has a 2-day plan to reopen Strait, resume nuclear talks with US, and other Mideast news – Newsday). Iran's foreign ministry said the timeline reflected progress in talks mediated by Qatar (Iran says it could reopen strait soon – Reuters). The reopening would be conditional on Washington meeting Tehran's demands.

Conditions that could prove hard for Washington

Foreign Minister Abbas Araghchi said indirect exchanges with Washington are under way through intermediaries (Iran engages US in 'intensive' negotiations to avert fresh war outbreak – France 24).

Qatar's proposal links the strait to nuclear inspections

Qatar, the lead mediator, is trying to persuade Tehran to admit UN nuclear inspectors to bombed nuclear sites, including those holding Iran's stockpile of highly enriched uranium (Strait of Hormuz could reopen as part of Qatari plan for Iran nuclear inspections – The Guardian). The plan would not require Iran to commit to moving that stockpile out of the country, and options such as diluting the uranium remain under discussion. Under the Qatari proposal, the waterway would reopen on the second day after implementation of the deal begins.

Trump points to progress amid continuing attacks

Trump has signaled progress toward a peace deal, even as attacks in the strait threaten the talks (Trump signals Iran peace progress as Hormuz attacks threaten talks – Investing.com). Iran's Revolutionary Guards said four oil tankers had been destroyed after hitting naval mines in the strait, but that claim has not been independently verified (Four tankers destroyed by naval mines in Strait of Hormuz, Iran's IRGC says – BBC News). Iran's president, Masoud Pezeshkian, warned that no side would gain if fighting with the US and Israel resumed.

Shipping risk and oil markets

Global oil prices fell sharply after Iran's announcement, but the situation around the strait remains dangerous. Attacks on ships there last month reached 35, the highest monthly count since the war began.

Read also

• Iran says it is negotiating with mediators on a seven-day plan to end the war and reopen the Strait of Hormuz