United States and Iran Consider $8 Billion Agreement to Reopen the Strait of Hormuz

According to an Israel Hayom report on November 9, the U.S. and Iran are exploring an $8 billion agreement centered on restoring freedom of navigation through the Strait of Hormuz. The proposal—originated by Iran—calls for the U.S. to unfreeze $8 billion in previously frozen Iranian assets in exchange for Iran’s commitment to guarantee unimpeded passage through the strait. President Trump is scheduled to meet with Qatar’s Prime Minister this Monday to discuss the plan. If finalized, the deal would end Iran’s attacks on commercial vessels in the Gulf and prompt the U.S. to lift sanctions targeting Iranian shipping. However, the report explicitly states that the agreement would not cover Iran’s nuclear program. Vice President Vance is reportedly spearheading efforts to advance the deal, though several senior administration officials remain opposed.