Iran Offers to Reopen Strait of Hormuz Within Seven Days

Tehran has signaled readiness to reopen the strategic waterway if the US eases pressure, according to reports in the Guardian and financial media.

Iran has expressed readiness to reopen the Strait of Hormuz within seven days, provided the United States takes reciprocal steps to ease pressure on the country, according to reports by The Guardian and Global Banking & Finance Review.

Traffic through the crucial energy transit corridor has recently dwindled to a trickle. The announcement indicates an apparent easing of Tehran's stance, after it had previously demanded seven preconditions, including a complete halt to warfare across all fronts and the lifting of US sanctions.

The potential breakthrough prompted an immediate reaction in financial markets, where major currencies steadied as fears over global crude supply disruptions eased.