Fresh diplomatic efforts to end the war between the United States and Iran are expected to resume this week, with Qatari mediators set to hold separate talks with Iranian Foreign Minister Abbas Araqchi and US representatives.
A senior official briefed on the negotiations told Reuters that the talks could take place in New York on Monday or Tuesday and would centre on an amended version of Iran’s seven-day proposal presented last week on the sidelines of the United Nations General Assembly.
The development is being closely watched by the global oil market because Iran’s proposal links any reopening of the Strait of Hormuz to the resolution of broader issues surrounding the conflict, sanctions and Iranian oil exports.
Iran’s seven-day plan calls for an end to hostilities in Iran and Lebanon, the unfreezing of billions of dollars in Iranian assets, the removal of sanctions on Iranian oil and the lifting of the US blockade on Iranian ports.
In return, Tehran would allow the Strait of Hormuz to reopen and resume negotiations with Washington over its nuclear programme.
The Strait of Hormuz is a critical energy corridor through which a significant share of global crude oil and petroleum product supplies moves, making any sustained disruption a major concern for refiners, traders and consuming countries.
US President Donald Trump said on Saturday that he had rejected Iran’s proposal, arguing that Tehran was seeking a quick agreement because of the economic pressure it was facing. However, he subsequently told Axios that US negotiators were expected to hold further talks this week.
Iran, meanwhile, maintains that Washington has not formally communicated a rejection of the proposal.
Araqchi said on Sunday that Iranian mediators were still awaiting the US position before determining Tehran’s next move.
“Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met,” Araqchi said, adding that only a negotiated solution could resolve the impasse.
The latest diplomatic activity comes as the conflict continues to inject uncertainty into the outlook for crude supplies, shipping and energy costs. For oil market participants, the immediate focus remains on whether negotiations can produce an arrangement that reduces the risk of prolonged disruption around the Strait of Hormuz and eases restrictions on Iranian oil exports.
Araqchi remained in New York after attending the UN General Assembly, although Iran’s Foreign Ministry spokesperson, Esmaeil Baghaei, later said the minister’s stay had not been extended and that he would return to Tehran according to his original schedule.
The proposed talks therefore represent another diplomatic channel between the two sides, but the key issues remain unresolved: the war, sanctions on Iranian oil, access to Iranian assets, the status of the Strait of Hormuz and negotiations over Iran’s nuclear programme.