Hormuz and Yemen: Iran offers de-escalation at a price others will pay

Tehran made an offer at the United Nations General Assembly, proposing a seven-day ceasefire across the region, the release of at least $12 billion in frozen Iranian assets, the lifting of sanctions on Iranian oil, and an end to the US naval blockade. In return, the Strait of Hormuz would reopen through a new route determined by Iran and Oman, indicating Iran's aim to establish control over international shipping through the strait. Iran seeks to turn the leverage it has created into a new reality where passage is conditional on an agreement set by Iran.