The United States and Iran are exploring a potential framework to wind down their nearly seven-month war, with the Strait of Hormuz emerging as the central issue in negotiations taking place around the United Nations General Assembly in New York.

Under the proposal described to Reuters, Iran would restore navigation through the strategic waterway while the United States would lift its economic blockade of Iran. Tehran could also seek access to frozen Iranian assets as part of a broader arrangement.

A senior Iranian official told Reuters that a phased approach could break the current deadlock, with reopening Hormuz and ending the blockade serving as the first stage. The official said Iran's economic situation has made a prolonged confrontation increasingly costly.

The Strait of Hormuz is a critical global energy route, and its closure has placed pressure on oil markets and international shipping. Washington is seeking unrestricted passage for vessels, while Tehran has used control over the waterway as leverage in negotiations.

The discussions remain complicated because neither side wants to surrender its negotiating leverage first. Iranian officials have sought guarantees that any U.S. concessions would be durable, while Washington has continued pressing for the strait to reopen.

The latest talks follow an earlier understanding that collapsed in July. President Donald Trump has previously said he believes an agreement could eventually be reached, but has also indicated that Washington is not prepared to rush into a settlement.

Iran had already signaled this week that it could reopen the strait if Washington eased military pressure and lifted its blockade. A senior Iranian official said Tuesday that Tehran could restore passage within seven days if the necessary conditions were met.

For now, the reported discussions represent negotiations rather than a completed agreement. Both governments continue to weigh the potential economic and strategic costs of making concessions as they seek an exit from the conflict.