US-Iran talks resume at UN General Assembly as Tehran outlines conditions to reopen Strait of Hormuz

Iranian Foreign Minister Abbas Araghchi met with US Special Envoy Steve Witkoff for high-level diplomatic talks on the sidelines of the 81st United Nations General Assembly, Iranian state media reported on Wednesday.

The three-hour gathering represents the most significant direct engagement between Washington and Tehran since military hostilities began in February.

What are Iran's conditions for reopening the Strait of Hormuz?

During the session in New York, Araghchi conveyed Tehran’s explicit requirements to reopen the Strait of Hormuz, a critical maritime chokehold responsible for a major share of global oil transit. According to Iranian state news agency IRIB and verified reporting by The Guardian, Tehran's core demands include:

• Lifting the Naval Blockade: An immediate termination of the United States naval blockade enforced against Iranian commercial ports and coastal shipping lanes.
• Asset Unfreezing: The prompt release and transfer of all Iranian financial assets frozen under US secondary sanctions.
• Cessation of Military Operations: An end to allied military strikes across all regional conflict zones and Iran's aligned "resistance fronts".

A senior Iranian official separately indicated that Tehran stands prepared to restore commercial passage through the strait within seven days if Washington executes reciprocal steps to ease military and economic pressure.

How did President Trump and global oil markets react?

The meeting coincided with remarks by US President Donald Trump following his address to the General Assembly, where he confirmed that envoys Steve Witkoff and Jared Kushner held "very good" and "very productive" discussions with Iranian leadership.

While Trump warned in his main speech that Washington retains choices between reaching an accord or pursuing intensified military action, he expressed optimism that a diplomatic breakthrough remains achievable in the coming months.

Following initial reports of the diplomatic engagement, global oil prices fell by slightly more than 1 percent on Tuesday as energy traders assessed a potential reduction in supply risks across the Persian Gulf. However, market analysts caution that significant gaps persist between both governments, with Tehran continuing to leverage its military presence around Hormuz during ongoing negotiations in New York.