The United States presented a 15-point peace plan to Iran through Pakistan, Israel's Channel 12 reported on March 24, but the next day, Iranian state media said Tehran rejected the plan. Separately, an Iranian letter circulated among International Maritime Organization members on March 24 saying that "non-hostile vessels" could transit through the Strait of Hormuz if coordinated with Iranian authorities; some vessels have reportedly paid up to $2 million to safely transit the strait.

Under the 15-point plan, Washington said it would lift all U.S. sanctions on Iran in return for guarantees that Iran would cease domestic uranium enrichment, decommission its nuclear facilities, only use its ballistic missiles for defense, open the Strait of Hormuz and end support for regional proxies. The United States was also reportedly considering a month-long ceasefire to discuss the 15-point plan. However, Iranian sources have noted hesitancy to reengage in negotiations with the United States after the United States attacked Iran twice during previous talks.