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President Donald Trump has rejected an Iranian proposal to reopen the Strait of Hormuz, a crucial waterway for global oil and gas transit. On Saturday (September 26), Trump told reporters on the White House lawn that Iran wants to make a deal to open the strait immediately because "they're losing so badly." The proposal reportedly included a seven-day plan to lift the U.S. naval blockade of Iranian ports, waive sanctions on Iranian oil sales, and observe a ceasefire that would include Lebanon.
Iranian Foreign Minister Abbas Araghchi announced the plan on Friday, stating that it would restart stalled talks on Iran's nuclear program. The proposal was conveyed to the U.S. through Qatar, a key mediator. However, Trump dismissed the offer, saying it was "totally unacceptable" and accusing Tehran of "playing games" with the U.S. for nearly 50 years.
The NBC4 reported that the U.S. military has blockaded Iranian ports since April, turning back commercial vessels and striking Iranian oil tankers attempting to breach the blockade. Iran's Revolutionary Guard has warned of a "heavy assault" on U.S. bases if their vessels are attacked.
The proposal's rejection comes amid high tensions, with both sides accusing each other of violating previous agreements. The U.S. News noted that Iran's response included demands for war reparations and full sovereignty over the Strait of Hormuz. As the situation remains unresolved, global oil prices have surged, impacting economies worldwide.