US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz within seven days, calling it unacceptable. The plan, which would end hostilities in the region, was transmitted to Washington via Qatari mediators.
Trump said he had rejected the plan, which is similar to a memorandum of understanding signed with Iran in June. He claimed the Iranian proposal was driven by financial desperation, as Tehran's economy relies on the Strait of Hormuz.
Iran's foreign minister Abbas Araghchi said the plan would begin immediately if accepted, with a cessation of hostilities across the Middle East. The proposal mirrors a 2024 agreement that called for the release of frozen Iranian assets and the lifting of sanctions.
Trump said he would not accept a deal that would allow Iran to reopen the Strait of Hormuz, despite the US naval blockade. He warned that a renewed bombing campaign is likely following the November US midterm elections.