US, Iran discuss phased deal to reopen Hormuz and end US blockade, sources say

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• 01US, Iran discuss phased deal to reopen Hormuz and end US blockade, sources say.
• 02The strait has become the central bargaining chip in efforts to end the nearly seven-month U.S.-Iran conflict, with Iran seeking relief from the U.S. blockade that is choking its economy and Washington seeking free passage for ships on the global oil supply route now blocked by Tehran.
• 03The talks face a big obstacle as neither side wants to be the first to surrender its leverage, according to comments to Reuters by two Iranian sources, two regional officials and two Western diplomatic sources, but behind Iran's stance is a recognition of the economic cost of prolonged confrontation.
• 04A senior Iranian official said the most plausible way to end the impasse would be a phased arrangement, with Iran allowing navigation through Hormuz in return for the U.S. lifting its economic blockade and Tehran pot.
• 05U.S. and Iran discuss phased deal to reopen Hormuz and end U.S. blockade, U.S. and Iranian negotiators in New York are exploring a phased path out of war that would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran, sources close to the talks said.