Iran proposes nuclear inspections in return for sanctions relief amid economic crisis
Iranian Foreign Minister Abbas Araghchi told UN diplomats that Tehran would permit nuclear inspectors if sanctions were eased, underscoring severe economic pain.
During meetings at the United Nations General Assembly, Iranian Foreign Minister Abbas Araghchi proposed that Iran allow nuclear inspectors if the United States relaxed sanctions, signaling deep economic distress. He highlighted inflation approaching 90% year-over-year and a 30% depreciation of the rial against the dollar. The offer comes as a US naval blockade in the Strait of Hormuz has stopped Iranian crude exports, even as US gasoline and diesel prices remain elevated before the November midterm elections.
The United States previously claimed a June memorandum of understanding permitted inspectors, a claim Iran denied and that later fell apart. Recent US-Iran negotiations in New York achieved little, with US officials insisting on firm commitments to reopen the strait and nuclear concessions. Tehran has previously said it would reopen Hormuz within seven days if the US lifted the blockade and sanctions, a proposal the US rejected.
Why it matters
The offer links Iran's dire economy to nuclear talks, affecting regional security and global oil markets.
How this story developed
- Sep 14 US claims Hormuz traffic improving as oil prices surge amid regional attacks
- Sep 23 Indirect negotiations between U.S. envoys and Iran’s foreign minister began in New York.
- Sep 24 Iran’s president publicly rejected any surrender to the United States at the UN.
- Sep 24 US and Iranian negotiators in New York are discussing a step-by-step plan that would see Iran reopen the Strait of Hormuz while the United States ends its economic blockade, though both sides cling to leverage.
- Sep 25 Iranian President Masoud Pezeshkian arrived in New York, the first Iranian head of state to set foot in the United States.
- Sep 25 President Donald Trump signaled interest in a deal before the midterm elections.
- Sep 26 Iran awaited an official U.S. reply to its UN‑transmitted peace initiative.
- Sep 26 US President Donald Trump says he rejects Iran’s proposal of a seven‑day roadmap to end the war, reopening the Strait of Hormuz.
- Sep 27 Iranian President Masoud Pezeshkian said Iran will remain resolute and not retreat despite President Donald Trump's rejection of Iran’s seven‑day ceasefire and Strait of Hormuz reopening proposal.
- Sep 27 President Trump dismissed Iran's proposal and no formal U.S. reply has been transmitted through mediators.
- Sep 29 Trump turned down Iran’s peace proposal at the United Nations.
- Sep 29 Brent crude rose about 4% to just over $107 a barrel after Donald Trump’s contradictory statements and the US announced the final withdrawal of its forces from Iraq.
- Sep 29 Araghchi announced he will depart for Tehran within hours after the New York meeting.
- Oct 2 The administration emphasized managing public expectations about a rapid settlement with Iran.
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