Under the proposal, Iran would reopen the waterway at the end of the seven-day period, after which Tehran and Washington would resume negotiations, Araghchi said.
The proposal, as reported by The New York Times, calls for a seven-day halt to hostilities across the Middle East, including in Lebanon. It also seeks the release of at least $12 billion in frozen Iranian assets, the lifting of sanctions on Iranian oil and an end to the U.S. naval blockade of Iranian ports.
Araghchi said Iran had conveyed the proposal to Washington through intermediaries and was awaiting a response.
He also said China supports the proposal.