Iran proposes opening Strait of Hormuz and deferring nuclear talks
Updated
Updated · CNBC · May 2
Iran proposes opening Strait of Hormuz and deferring nuclear talks
4 articles · Updated · CNBC · May 2
Trump said on Friday he was dissatisfied, as Tehran formally sent the plan through mediators after blocking most Gulf shipping for more than two months.
The proposal would reopen the strait, end the US blockade and halt the war with guarantees against renewed US or Israeli attacks, leaving nuclear limits and sanctions relief to later negotiations.
The disruption has choked 20% of global oil and gas supplies, lifted US gasoline prices and followed a four-week pause in US-Israeli bombing without a broader settlement.
With Iran's peace offer rejected, is a wider military conflict in the Gulf now inevitable?
Beyond oil, how is the Hormuz crisis choking the global supply of materials for electric vehicles and modern technology?
Iran's 2026 Strait of Hormuz Proposal Rejected by U.S., Deepening Global Energy Crisis
Overview
In late April 2026, Iran proposed reopening the Strait of Hormuz and lifting the U.S. naval blockade in exchange for postponing nuclear talks, but the U.S. rejected this, insisting on resolving nuclear issues first. This disagreement deepened the diplomatic stalemate, while the Strait's closure since February 2026 has caused a global oil supply crisis, driving up prices and threatening recession. Efforts by regional mediators like Pakistan and consultations with allies aim to break the deadlock. The crisis highlights urgent needs for energy diversification and stronger international maritime governance, as the prolonged impasse risks sustained economic disruption and potential escalation.