Iran has proposed a seven-day plan to reopen the Strait of Hormuz and resume negotiations with the US to end the wider conflict.

Iran has proposed reopening the Strait of Hormuz and reviving nuclear talks if the US eases sanctions, lifts its naval blockade and honours a ceasefire. The offer revives diplomacy but faces Saudi scepticism, regional war risks and sharp divisions within Iran.

Iran’s disruption of the strait — through which a fifth of the world’s traded oil and gas transited before the war — has emerged as its main point of leverage.

Foreign minister Abbas Araghchi detailed the proposal in a private gathering on the sidelines of the UN General Assembly, according to an attendee.

The Iranian foreign minister also reiterated Tehran’s commitment to diplomacy over its peaceful nuclear programme.