Iran’s Deputy Foreign Minister Kazem Gharibabadi says Tehran is studying the US response to its latest proposal for ending the US-Israeli aggression against the country.

In comments to reporters on Sunday, Gharibabadi said mediators had delivered the US response to a proposal presented by Iranian Foreign Minister Abbas Araghchi during his stay in New York earlier this month to attend the United Nations General Assembly.

“Americans have also conveyed their views … and these views are being examined inside the country and through the relevant path and channel,” he said.

Iran proposed to the US that it would reopen the Strait of Hormuz within seven days in return for the US lifting its sanctions and blockade on Iran and releasing part of the country’s blocked funds.

Iran FM outlines seven-day plan for conditional reopening of Strait of Hormuz

Foreign Minister Abbas Araghchi outlines a seven-day plan for reopening the Strait of Hormuz, saying implementation would begin immediately if the US accepts Iran’s conditions.

The proposal came amid a standstill in diplomatic efforts aimed at permanently ending the US-Israeli aggression against Iran that began in late February and ended with a ceasefire in mid-April.

The aggression prompted Iran to impose restrictions on transit through the Strait of Hormuz, a key waterway carrying a fifth of global oil supplies.

Iran and the US signed a memorandum of understanding (MoU) in June, which allowed for a gradual reopening of the Strait of Hormuz under Iranian arrangements in return for an easing of US sanctions on the country.

However, the MoU unraveled after the United States sought to undermine Iran’s control over the Strait.

Gharibabadi said Iran will take appropriate action after considering US replies to its proposal, adding, however, that the country is making the necessary preparations for any other scenario, including renewed aggression.