Iran offers to reopen Strait of Hormuz if U.S. lifts sanctions, releases assets

Iran has offered to reopen the Strait of Hormuz under conditions including the lifting of U.S. sanctions and release of frozen assets, as President Trump signals openness to military action against Tehran after the November midterm elections. Iranian Foreign Ministry spokesperson Esmail Baghaei said Monday that implementing Iran's demands could restore security to the strait within two days, adding that the outcome depends on Washington's decision. The strait, carrying about 20 percent of global oil daily, has been closed since U.S. and Israeli strikes in late February, raising energy prices. The offer follows Qatari-mediated talks, including a letter from Vice President Vance to Iranian official Mohsen Rezaei, which Iran's foreign minister called a "positive step." Trump said Saturday he wants to avoid conflict but warned "at some point we're going to have to give them the hammer."