Bloomberg reported on September 24 2026 that US and Iranian negotiators were exploring a phased deal under which Tehran would reopen the Strait of Hormuz, and a senior Iranian official told Reuters the most realistic path is navigation through the strait in exchange for an end to the US naval blockade - the same exchange the June 17 memorandum agreed before it collapsed into renewed fighting. It is the first concrete reopening framework on the table since the Salalah ministerial was postponed.