US President Donald Trump seems unlikely to accept the offer, which was passed to the Americans by Pakistan and would leave unresolved the disagreements that led the US and Israel to go to war on Feb 28.
With a fragile ceasefire in place, the US and Iran are locked in a standoff over the strait, through which a fifth of the world’s traded oil and gas passes in peacetime.
The US blockade is designed to prevent Iran from selling its oil, depriving it of crucial revenue while also potentially creating a situation where Tehran has to shut off production because it has nowhere to store the oil.
The strait’s closure, meanwhile, has put pressure on Trump, as oil and gasoline prices have skyrocketed ahead of crucial midterm elections, and it has pressured his Gulf allies, which use the waterway to export their oil and gas.
The closure has also had far-reaching effects throughout the world economy, raising the price of fertiliser, food and other basic goods
