Shea Levin — text status

U.S. and Iranian negotiators in New York are discussing a phased agreement to end the war that could see Tehran reopen the Strait of Hormuz in exchange for Washington lifting its economic blockade and potentially releasing frozen Iranian assets. Reuters reports. The main obstacle is reportedly which side gives up its leverage first. A senior Iranian official said the crisis could be resolved in stages, beginning with ending the blockade and reopening Hormuz, while negotiators seek guarantees to prevent any agreement from collapsing.