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US and Iran discuss phased Strait of Hormuz deal as talks stall
A first phase would pair Iran reopening the Strait of Hormuz with US lifting of an economic blockade and access to frozen Iranian assets, but both sides are holding leverage ahead of the US midterms.
US and Iranian negotiators are discussing a phased agreement aimed at ending the conflict, according to Reuters, with a first step centered on reopening the Strait of Hormuz.
Under the proposed initial phase, Iran would reopen the waterway in exchange for the US lifting its economic blockade and granting Iran access to frozen Iranian assets.
Talks are stalling, Reuters reported, as neither side wants to give up leverage.
US President Donald Trump said he expects the US and Iran could reach a deal after the November 3 US congressional midterm elections, Reuters added.