Iran has delivered a new proposal to the United States through Pakistani mediators, offering to reopen the Strait of Hormuz to international shipping in exchange for the US lifting its naval blockade, while postponing nuclear negotiations to a later stage. The development was reported by Axios, citing US officials and sources familiar with the matter.

The Strait of Hormuz remains a critical global chokepoint, with shipping largely disrupted for weeks amid the ongoing US-Iran tensions. Iran initially restricted traffic, prompting the US to impose a counter-blockade targeting vessels bound for Iranian ports. This "dual blockade" has severely impacted oil exports, costing Iran's economy hundreds of millions of dollars daily.

President Donald Trump has maintained pressure, emphasizing that no full deal is possible without reopening the strait and addressing Iran's nuclear program. However, he has also expressed openness to talks, extending a fragile ceasefire multiple times. Iranian officials, including Foreign Minister Abbas Araghchi, have engaged in regional diplomacy, including meetings in Russia.

The proposal comes as both sides face economic and strategic costs from the prolonged standoff, with analysts noting that de-escalation could help stabilize global energy markets.

This is a developing story with potential implications for oil prices worldwide, including in Nigeria where fuel costs are closely tied to international crude markets.