Iran offers to reopen Hormuz within 7 days and restart nuclear talks

Key Points:

• Iran's Foreign Minister Abbas Araghchi proposed reopening the Strait of Hormuz and resuming nuclear talks with the U.S. within seven days if the Trump administration meets Iran's conditions based on the Islamabad Memorandum of Understanding.
• Iranian President Masoud Pezeshkian responded defiantly to President Trump's "annihilation" threat, stating the U.S. must decide whether to end the ongoing conflict, amid continued missile strikes and regional tensions.
• The Houthis launched multiple missile and drone attacks on Saudi targets, prompting emergency alerts and a planned urgent meeting of Saudi Arabia, Turkey, and Pakistan's military chiefs under the Mecca Joint Defense Agreement.
• Vessel transits through the Strait of Hormuz have dropped significantly, reflecting heightened tensions in the region, while oil prices declined slightly amid the uncertainty.
• The conflict and diplomatic efforts were discussed during Chinese President Xi Jinping's state visit to the U.S., with both leaders emphasizing the importance of reducing tensions in the Middle East, and Trump seeking China's assistance in pressuring Iran toward a settlement.