Iran has given the US a new proposal that would reopen the Strait of Hormuz and restart talks over an end to the broader war within seven days, Iranian Foreign Minister Abbas Araghchi said Thursday, The Washington Post reports.

The proposal was delivered to US officials when the sides met through mediators this week, Araghchi said during a meeting with a group of journalists and experts on the sidelines of the UN General Assembly session in New York.

As per the Iranian foreign minister, the new proposal is similar to the memorandum of understanding that the parties had agreed on in June.

According to him, the US must fulfill certain conditions within seven days for the talks to resume and the Strait of Hormuz to reopen.

The seven-day period during which the US must fulfill these conditions will begin the day after Washington agrees to Iran's proposal, CNN reports.

The Iranian foreign minister said that they are waiting for Washington's response.

Araghchi noted that Iran is in no hurry, but believes that it would be better if the US agreed to this proposal and the talks resumed before the midterm elections in the US Congress in early November.

Separately, an anonymous US official told reporters that the US was conducting positive and constructive talks with the mediation of third parties.

The US is in a very strong position—overseeing the Strait of Hormuz; so, it is not in a hurry. Last night, nearly 22 million barrels of oil passed through the strait, the US official added.