Araghchi Proposes Seven-Day Plan to Reopen Hormuz, Meets Saudi FM as Iran Seeks Deal Before Midterms

Foreign Minister Abbas Araghchi presented a seven-day plan to reopen the Strait of Hormuz and restart wider peace negotiations, as President Pezeshkian said Tehran wants a deal with the US 'before November's midterm elections' — contradicting Trump's claim that Iran would stall until after the vote. A US official called the talks 'positive and constructive' but said Washington was not rushing, citing its strategic advantage; technical-level talks between envoys Witkoff and Kushner and Iranian officials have progressed beyond initial contacts, with Qatar continuing to mediate. Araghchi separately met Saudi Foreign Minister Prince Faisal bin Farhan Al Saud on the UN General Assembly sidelines. Brent crude eased about 1.2% to roughly $105.30/bbl, retreating from Thursday's four-month intraday high near $108, as markets reacted cautiously to the diplomatic overtures; the US military said it had redirected 122 commercial vessels since reinstating its Hormuz blockade July 14, adding 7 vessels over the prior two days, with nearly 40 million barrels transiting under military escort in 48 hours.