The US and Iran are considering a phased agreement to ease months of conflict, with Iran reopening the Strait of Hormuz to maritime traffic and the US lifting its economic blockade on Iran. Talks in New York also include possible access to some Iranian assets frozen abroad. The main obstacles are disagreement over which side should act first, the reluctance of both governments to surrender leverage without reciprocal concessions, and concerns that any new commitments may not be permanent or enforceable after a provisional understanding collapsed in July. US President Donald Trump previously said an agreement could be reached after the November 3rd midterm congressional elections, while diplomatic sources say both sides have economic and political reasons to seek a deal before then. The strait remains below pre-war traffic levels, and reduced regional tensions could ease concerns about oil supplies and energy prices. No final agreement has been reached.