Iran is maintaining its seven-day proposal for reopening the critical Strait of Hormuz, refusing to soften its conditions, while President Donald Trump has given mixed signals regarding a potential deal. Trump, in an interview with Axios, stated that Iran's current demands are something Washington might have agreed to a year ago, suggesting Tehran has overplayed its hand. He anticipates negotiations to restart this week, despite his rejection of Iran's most recent offer. Iranian Foreign Minister Abbas Araghchi indicated that Iran is awaiting a definitive US response and has not yet received feedback from mediators Qatar and Pakistan.
US and Iranian negotiators had previously explored a deal where Tehran would reopen the strait in exchange for Washington lifting a blockade on Iranian ports, similar to a fragile memorandum of understanding reached in mid-June that later collapsed. Trump publicly rejected Iran's latest proposal, stating, "They want to make a deal where they open the strait immediately because they’re losing so badly." Araghchi countered by emphasizing Iran's readiness to open the strait if the US meets certain long-standing conditions, but he expressed reluctance for further diplomacy with the current US administration due to repeated attacks on Iran during Trump’s second term.
Treasury Secretary Scott Bessent asserted that the US economic pressure campaign against Iran is effective, noting that China, a major buyer of Iranian oil, has significantly reduced its assistance, intensifying pressure on Iran to negotiate. Bessent predicted Iran's final oil delivery to China within two weeks, after which they would have no further income from that source. The Wall Street Journal also reported that Trump is skeptical of Iran's willingness to negotiate and expects to resume a bombing campaign against Iran after the US midterm elections in early November. Iranian President Masoud Pezeshkian had previously stated at the UN General Assembly that his country would not allow navigation through the Strait of Hormuz while sanctions and a US blockade persist, nor would it abandon its right to develop nuclear technology for economic purposes.
