US President Donald Trump has rejected an Iranian proposal to reopen the Strait of Hormuz within seven days, despite Iran's Foreign Minister Abbas Araghchi claiming the deal is feasible if conditions are met. The waterway, critical for global energy trade, has been blocked since February, causing price volatility and economic strain.
Trump rejected the Iranian proposal, stating the US already controls the strait and that Iran's offer is not acceptable. Iran's Foreign Minister said the necessary conditions are in the June-signed MOU, with the US now deciding whether to proceed. The MOU aimed to end the war and reopen the strait, but the deal collapsed after both sides resumed strikes.
The strait's closure has disrupted energy markets, with shipping data showing reduced transit rates. Iran requires ships to obtain authorization before passing through the waterway, while the US maintains a naval blockade. The conflict has intensified, with Iran and the US engaging in periodic attacks, and the situation remains unresolved as the US approaches elections.
Iran's President Masoud Pezeshkian said the process would begin once the US agrees to the MOU. The deal included releasing frozen Iranian assets and lifting sanctions on oil, but it failed after Iran resumed attacks on commercial vessels in the strait.