Iran has submitted a fresh proposal to the United States aimed at ending the two-month conflict that has blocked the Strait of Hormuz, a crucial maritime route for global oil trade. This proposal follows US President Donald Trump's assertion that Iran is eager for a deal due to its struggling economy, exacerbated by US sanctions. Details of the proposal remain unclear, but previous negotiations had seen Iran offer to reopen the Strait while postponing discussions on its nuclear program, a condition that Trump rejected. He insisted that any agreement must include commitments regarding Iran's nuclear activities, including a demand that Iran refrain from moving enriched uranium or restarting operations at its nuclear sites during negotiations. The situation has led to a significant spike in oil prices, reaching a wartime high of $114.70 per barrel before settling at $110.40. The Iranian economy is under severe strain, with its currency hitting an all-time low and reports of food and gasoline rationing. US Treasury Secretary Scott Bessent stated that the blockade will persist until navigation freedoms are restored, highlighting the international community's opposition to Tehran's current regime.