Iran has stated it will await an official response from US negotiators following President Donald Trump’s rejection of a proposal to reopen the Strait of Hormuz to commercial shipping within seven days, a move that has intensified existing tensions between the two countries. In a post on Telegram, Iranian Foreign Minister Abbas Araghchi acknowledged Trump’s rejection, but accused the president of making contradictory statements. Earlier, Trump told reporters at the White House that Tehran’s proposal was not "acceptable" and that they wanted to make a deal to open the strait immediately because "they’re losing so badly" – a statement that reportedly fueled further distrust. On Friday, Araghchi told reporters that an agreement could be reached if ‘necessary conditions are met’ between the two countries, referencing a memorandum of understanding signed in June. Iran asserted that it had raised reopening the strait and ending hostilities during negotiations on the sidelines of the UN General Assembly in New York this past week. The vital waterway, which typically carries approximately a fifth of the world’s oil and gas supply, has been effectively closed since the February war. The situation has been exacerbated by the US ambassador to Nato, Matthew Whitaker, who stated that Iran had offered ‘half measures’ and ‘illusory deals’ to make themselves look good on the world stage. Trump responded by saying, ‘I’m rejecting their deal,’ adding that the US already possessed ‘total control’ of the strait, with ‘massive amounts of oil’ passing through it. Oman, acting as a mediator between the US and Iran, called for all parties to continue having open dialogue to resolve the crisis. Oman’s foreign minister, Sayyid Badr bin Hamad bin Hamood Albusaidi, informed the UN General Debate that ‘all parties’ should cooperate with Oman in efforts to safeguard navigation in the strategic waterway. Trump’s rejection was supported by the US ambassador to Nato, Matthew Whitaker. Trump also posted on X, stating that Iran had offered ‘half measures’ and ‘illusory deals’ to make themselves look good on the world stage, and that the US had halted flights from various Iranian airlines, and some banks in the UAE and Turkey had stopped transactions with Iran. Treasury Secretary Scott Bessent announced that economic pressure from the US was taking a toll on Tehran, stating that Turkey, Oman, and the United Arab Emirates had halted flights from various Iranian airlines, and some banks in the UAE and Turkey had stopped transactions with Iran. The Trump administration has dubbed an economic blockade on Iran as ‘Operation Economic Outcast’ and is using sanctions to pressure Tehran to stop attacks on vessels in the Strait of Hormuz. Economists have questioned whether the latest sanctions will be effective, given that Iran’s major trading partners – China, the biggest buyer of Iranian oil – have ignored previous US sanctions and continued to do business with Tehran. These include China, the largest buyer of Iranian oil, which has ignored previous US sanctions and continued to do business with Tehran. The situation is further complicated by the fact that the Strait of Hormuz is a critical choke point for global trade, and its disruption has significant geopolitical consequences.””, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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