Iran has sent Washington a proposal through mediators to cease hostilities, reopen the Strait of Hormuz within seven days and begin comprehensive nuclear talks, Foreign Minister Abbas Araghchi said Thursday. The plan could take effect the day after US acceptance, and Tehran is awaiting a response. Iran’s terms include lifting the US blockade, releasing frozen Iranian funds and ending Israel’s war in southern Lebanon, with Hormuz reopening on terms established with Oman.

President Masoud Pezeshkian also offered to give up uranium enriched to 60% under Iran’s treaty obligations. Asked about the material by Fox News, he replied: “Yes, within the framework of international law, based on the Nonproliferation Treaty. Whatever we are supposed to adhere to, we will.” He said Iran was willing to dilute the material and accept International Atomic Energy Agency verification as part of an agreement.

The proposal draws on the June Islamabad memorandum of understanding, which covered sanctions relief, frozen assets and an end to military operations. Pezeshkian said Tehran wanted to revive that framework before November’s US midterm elections: “We wish Americans to return to the MOU before the midterms.” Reuters reported that negotiators in New York were discussing a phased arrangement, but remained divided over sequencing, with neither side willing to relinquish its leverage first.