Iran has reportedly offered to end its blockade of the Strait of Hormuz in exchange for the United States lifting its own naval blockade on the Islamic Republic, a proposal that would set aside discussions on Tehran’s nuclear programme for now. The offer was conveyed to Washington through Pakistan, according to multiple media reports, as diplomatic efforts remain stalled.
The development comes as Iran’s Foreign Minister Abbas Araghchi visited Moscow on Monday, seeking support from Russia, a key backer of Tehran. The trip followed the cancellation of potential ceasefire talks between the US and Iran that had been scheduled for the weekend in Pakistan. US President Donald Trump called off the planned visit by his envoys and suggested the negotiations could instead take place by phone.
The Trump administration appears unlikely to accept the Pakistani-mediated offer, which would leave unresolved the core disagreements that led the US and Israel to strike Tehran on 28 February, killing Iran’s top leadership in the opening salvo of the war. “We can’t let them get away with it,” US Secretary of State Marco Rubio told US media on Monday. “We have to ensure that any deal that is made, any agreement that is made, is one that definitively prevents them from sprinting towards a nuclear weapon at any point.”
Dual blockade and rising energy costs
Despite an ongoing ceasefire, the US and Iran remain locked in a standoff over the Strait of Hormuz, through which roughly one-fifth of the world’s oil and gas trade passes under normal conditions. A US blockade that came into force in mid-April has created a dual blockade: Washington aims to prevent Tehran from selling its oil, depriving it of crucial revenue, while also potentially forcing Iran to shut down production due to a lack of storage capacity. The closure has also put pressure on Trump, as oil and gasoline prices have surged ahead of crucial midterm elections, squeezing his Gulf allies who rely on the waterway to export their energy. On Monday, the spot price of Brent crude closed above $108 per barrel, about 50% higher than when the war began.
The standoff has disrupted global energy flows and stranded thousands of seafarers, as detailed in our earlier report on the Strait of Hormuz Standoff Strands 20,000 Seafarers, Disrupts Global Energy Flows. European fuel prices remain elevated, with some countries like Latvia and Sweden seeing surges of over 20% after the blockade, as noted in our analysis of EU Fuel Prices Surge Over 20% in Latvia and Sweden After Strait of Hormuz Blockade.
European leaders voice frustration
In a joint statement led by Bahrain, dozens of nations repeated calls to reopen the critical waterway on Monday, just as United Nations Secretary-General António Guterres told the Security Council that the humanitarian toll is mounting. “These pressures are cascading into empty fuel tanks, empty shelves — and empty plates,” he said.
Across Europe, leaders also voiced their frustration. German Chancellor Friedrich Merz criticised Washington for entering the war without what he described as a clear strategy. “The problem with conflicts like these is always the same: It’s not just about getting in. You also have to get out,” Merz said.
In Paris, French Foreign Minister Jean-Noël Barrot criticised all sides but emphasised that the crisis only began after the US and Israel struck Iran without clear goals “in a manner that flouts international law.” Barrot also condemned Tehran for closing the passageway. “Straits are the arteries of the world. They are not the property of any individual,” he said.
The standoff has also drawn in European leaders meeting in Cyprus to tackle the broader crisis, as reported in EU Leaders in Cyprus Tackle Ukraine, Hormuz Crisis, and Mutual Defence Clause. Meanwhile, the US and Iran have traded ship seizures, deepening the crisis further, as covered in US and Iran Trade Ship Seizures as Strait of Hormuz Crisis Deepens.
