Iranian Foreign Minister Presents U.S. Proposal to Tehran Cabinet

Iranian Foreign Minister Abbas Araghchi presented the latest U.S. peace proposal to Tehran's Cabinet on Wednesday, according to an Iranian government spokesperson. Spokesperson Fatemeh Mohajerani said Araghchi briefed the Cabinet on the proposal, delivered Tuesday via mediators, and on his bilateral meetings at the U.N. General Assembly last week. Iran's own proposal had offered a gradual lifting of its Strait of Hormuz blockade in exchange for sanctions relief, a ceasefire, and unfreezing of $12 billion in assets. The U.S. has not officially responded to Iran's ceasefire offer, which President Trump publicly rejected over the weekend. Both sides have not held direct talks since June, and the U.S. has relied on economic pressure since the Islamabad Memorandum broke down in July.