The Strait of Hormuz could reopen to commercial shipping within a month under a draft framework agreement reported by Iranian state media on Wednesday, potentially easing one of the largest energy supply disruptions in modern history.
According to the reported framework, Iran would restore full commercial transit through the strategic waterway — which previously handled around 20% of global oil shipments — while the US would withdraw its naval blockade from the region.
Iranian state television also claimed the draft document proposes that any final agreement reached within 60 days could be formally endorsed by the United Nations Security Council, potentially giving the deal international legal backing.
The developments come as Donald Trump prepares to meet senior cabinet officials at the White House later on Wednesday to discuss the next phase of US strategy toward Iran.
Officials expected to attend include Tulsi Gabbard, amid continued tensions following Iranian accusations that Washington violated a ceasefire agreed earlier this year.
The latest escalation followed US strikes on Iranian naval vessels in the strait after American officials accused Tehran of attempting to deploy naval mines across the shipping route.
Markets have been closely monitoring developments around Hormuz given its critical role in global energy exports. Oil prices remain elevated despite recent diplomatic progress, with traders weighing the likelihood of a sustained reopening against the risk of renewed military escalation.
The cabinet meeting had originally been scheduled to take place at Camp David before being moved to Washington because of adverse weather conditions.
