US and Iran Weigh Reopening Strait of Hormuz for $8 Billion in Frozen Funds

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US and Iran Weigh Reopening Strait of Hormuz for $8 Billion in Frozen Funds

US President Donald Trump is expected to meet Qatar's prime minister to discuss an Iranian proposal on the Strait of Hormuz. Iran would reopen the strait in exchange for $8 billion in frozen funds, Israel Hayom reported. The deal would not address Iran's nuclear program.

Trump is expected to meet Qatar's prime minister on Monday to discuss an Iranian proposal to reopen the Strait of Hormuz, Israel Hayom reported. In return, Iran would receive the release of $8 billion in frozen Iranian funds.

The reported proposal would require Iran to stop attacks on Gulf shipping, while the US would lift restrictions on the country. However, the deal would not address Iran's nuclear program.

Vice President JD Vance is reportedly supporting the agreement, despite opposition from senior US administration officials. The proposed deal could help restore shipping through the Strait of Hormuz, a key route for global oil supplies.

Source: Coinpedia Fintech News

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