U.S., Iran said to be exploring phased deal to open Hormuz

U.S. and Iranian negotiators are exploring a phased deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports, according to a person familiar with the discussions. The two countries — which have both refused to make similar deals in recent months — were making a push for a breakthrough Thursday on the sidelines of the United Nations General Assembly, the person said, declining to be named discussing private matters. Qatari officials are mediating the negotiations, they added.

A sequenced deal would be similar to a memorandum of understanding that the U.S. and Iran struck in mid-June, which led to a fragile ceasefire that collapsed just weeks later.