US and Iranian negotiators in New York are exploring a phased path out of their nearly seven-month war, under which Tehran would reopen the Strait of Hormuz and Washington would lift its economic blockade of Iran, sources close to the talks said. Iran may defer its demand for transit fees, making an end to the blockade its priority. Any arrangement would be temporary.
US, Iran Weigh Phased Deal to Reopen Strait of Hormuz
Source: Reuters