Iran's Foreign Minister Abbas Araghchi said on Saturday that a proposal discussed with Qatari mediators could reopen the Strait of Hormuz within two days, but only if the United States meets Tehran's conditions. Araghchi said Qatar had proposed shortening the implementation period to five days, and that consultations had produced a proposal reducing it to two days. An Iranian delegation was in Doha on Saturday, after a Qatari visit to Tehran.

The conditions, as Araghchi set them out, include lifting sanctions imposed after the Islamabad memorandum, reducing United States military deployments in the region, restoring oil waivers and releasing all frozen funds, including money held in Qatar. Tehran also wants recognition of shipping routes it discussed with Oman, and the closure of other routes. Araghchi said Tehran had reviewed a letter from US Vice President JD Vance and regarded the effort to open dialogue positively, but that there were no current plans for meetings with US officials.

A proposal, not an agreement

The distinction matters. No agreement has been announced, and there has been no public White House response to the two-day plan. US Secretary of State Marco Rubio has said President Donald Trump prefers diplomacy but has not decided whether to launch new strikes, and an earlier Iranian proposal was rejected. The two-day timetable therefore describes Tehran's position, reached with mediators, rather than a countdown to a confirmed reopening. Brent crude settled on Friday at 117.64 dollars a barrel, with US crude at 104.12 dollars, both their highest since late April, according to Reuters.

What happens next depends on whether Washington accepts any part of the conditions, and on whether mediation can turn a timetable into terms both sides will sign. Until then, the strait remains the risk to oil markets, and the two-day figure should be read as Iran's offer, not as a date on which shipping resumes.