Iran has presented a diplomatic counter-offer to the U.S. for re-opening the Strait of Hormuz. Iran says, through this it will bring an end to the conflict. However, Regional Gulf insiders say the focus would be on restarting oil flows and restoring markets to their pre-crisis stability. The proposal was discussed at a meeting between U.S. President Donald Trump and his national security team. But administration has given no sign of whether it is giving the offer serious thought.

White House Press Secretary Karoline Leavitt reiterated that offer might be real. However, the US stick to its hardline position and is not going to budge on the issue of the enrichment of Iran’s Uranium. At the same time, the GCC members will be considering the proposal. Continue blocking of the strait have raised oil prices above US$100 a barrel, giving the world economy something else to worry about.

Iranian Foreign Minister Abbas Araghchi has been traveling extensively to try and gather the support of regional and global actors. He visited Pakistan, Russia and Oman and looking for diplomatic support. In Moscow Mr. Araghchi was seen meeting President Vladimir Putin who promised support for Iran and spoke of regional stability. Nevertheless, direct negotiations between Iran and the US have yet to be successfully conducted.

Iran had refused face-to-face talks while Trump has insisted that Iran should consider one to one approach. The deadlock has brought instability in the energy market and strained diplomatic cooperation.