Iran proposal leads to cautious optimism of a deal to end war and open Strait of Hormuz

Iran sent a new proposal for negotiations with the United States, but dampened expectations of rapid progress. The UAE President cautioned that any unilateral arrangement with Iran regarding freedom of navigation in the Strait of Hormuz cannot be trusted. The Strait of Hormuz blockade is disrupting energy markets, causing oil prices to surge, and the US is blocking Iranian crude oil exports and threatening sanctions on ships paying tolls to Iran.