US, Iran Review 10-Day Truce Proposal to Reopen Strait of Hormuz

The US and Iran are reviewing a 10-day ceasefire proposal put forward by Middle Eastern mediators.

Axios reported on July 20 that the Trump administration is considering a new truce plan proposed by Qatar, Egypt and Pakistan. The plan would temporarily halt fighting, reopen the Strait of Hormuz and restart talks on a memorandum of understanding to end the war.

During the 10-day ceasefire, the US and Iran would set rules for passage through the strait. Options under discussion include allowing Iran to collect what it calls reasonable service fees in the name of maritime security and placing those fees in a joint fund involving the International Maritime Organization.

Separately, the Houthi rebels declared a maritime blockade against Saudi Arabia that day. Houthi spokesman Yahya Saree described it as a response to Saudi blockades of Houthi ports and airports and to last week's airstrike on Sanaa International Airport. A closure of the Bab el-Mandeb Strait, which links the Red Sea and the Gulf of Aden, could affect more than 3% of the global oil market.

Still, the Houthis may struggle to sustain a prolonged blockade of the Bab el-Mandeb Strait. Julian Pawlak, a maritime security specialist at the German Institute for International and Security Affairs, said it is relatively easy to disrupt navigation temporarily but difficult to keep the strait closed for a long period.

Lee Hye-in, Hankyung.com reporter hey@hankyung.com