U.S. and Iran explore phased deal to reopen Strait of Hormuz

The United States and Iran are exploring a phased deal to reopen the Strait of Hormuz in exchange for Washington lifting its blockade of Iranian ports, according to a person familiar with the discussions. Negotiators pushed for a breakthrough Thursday on the sidelines of the U.N. General Assembly, with Qatari officials mediating. Both countries had previously refused similar deals in recent months, the source said, speaking anonymously about private matters. The proposed sequenced agreement resembles a memorandum of understanding from mid-June, which produced a fragile ceasefire that collapsed within weeks.