Iran has offered the United States a deal that could see the Strait of Hormuz reopened within seven days if Washington meets conditions outlined in a memorandum of understanding signed in June.
Iranian Foreign Minister Abbas Araghchi told reporters at the United Nations in New York that the proposal had been delivered to the US through Qatar.
He said the necessary steps were already contained in the June agreement and that the choice now rested with Washington.
A US official told the BBC that positive discussions were taking place through mediators, including on nuclear issues.
However, the Wall Street Journal, citing US officials, reported that President Donald Trump had rejected the proposal, although the US has not formally responded to the offer.
The Strait of Hormuz is a key global shipping route through which around 20 percent of the world’s oil and liquefied natural gas previously passed.
Its closure following the conflict between Iran, the US and Israel has disrupted energy markets and contributed to sharp fluctuations in oil prices.
Iranian President Masoud Pezeshkian also said the ceasefire process could begin immediately if the US accepts the proposed arrangement.
He added that Iran would allow United Nations nuclear inspectors into the country as part of negotiations.
The June memorandum included provisions for a ceasefire, sanctions relief, an end to military operations and arrangements for the safe passage of commercial vessels through the Strait of Hormuz.
The agreement later collapsed after both sides resumed military action.
Araghchi has rejected what he described as threats or coercion from the US, saying peace cannot be achieved through threats of annihilation.
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