US President Donald Trump has rejected an Iranian proposal to reopen the strategically important Strait of Hormuz, even as he claimed Tehran was now seeking to open the waterway because the US blockade had cut off a major source of its revenue.
Speaking to reporters on Saturday, Trump said Iran wanted to reopen the strait immediately because it was under severe economic pressure.
"And what they want to do is immediately open the Hormuz Strait. You know why? Because they're dying. You know why they're dying? Because they have no money coming in, because they get their money from the Hormuz Strait," Trump said.
He had earlier confirmed that he had rejected an Iranian proposal aimed at reopening the waterway. "They made a proposal, but I rejected it," Trump said as he left the White House.
"They want to make a deal where they open the strait immediately because they're losing so badly," he added.
Iran had proposed reopening the Strait of Hormuz as part of a wider arrangement to end the conflict. According to reports, US and Iranian negotiators had been exploring a deal under which Tehran would reopen the waterway while Washington lifted its blockade of Iranian ports. A person familiar with the discussions told Bloomberg that the two sides had been examining such an arrangement.
Trump says US blockade has squeezed Iran
Trump said Iran had effectively harmed itself by closing the waterway and argued that the US response had put further economic pressure on Tehran.
"So they outsmarted themselves. They said, 'Let's close it and cause a problem for the world.' And then I came along, and we put up the greatest blockade ever in military history. It's a wall of steel, and we put it up, and guess what? They don't have any money now, because they wanted to close the strait, and I said, 'That's fine. We're going to close it on you, but everybody else is able to use it'," he said.
The US has imposed an economic blockade on Iran as part of its effort to pressure Tehran to stop attacks on vessels in the Strait of Hormuz, Reuters reported. Shipping through the waterway has been drastically reduced during the conflict.
Iran, however, has maintained that reopening the strait is conditional on Washington accepting its demands. Iranian Foreign Minister Abbas Araqchi said on Sunday that Tehran's conditions were clear and that any move towards reopening the waterway depended on those conditions being met. He also said Iran was waiting for mediators to communicate Washington's definitive position on the proposal.
Iran proposed seven-day roadmap
Iranian officials have said the proposal could lead to the reopening of the Strait of Hormuz within seven days if the US agrees to its conditions.
Araqchi told reporters at the United Nations on Friday that the proposal would trigger a seven-day countdown to reopening the waterway and a pause in regional fighting.
"If there is seriousness on the US side to come to a deal and reopen the Strait of Hormuz, everything is now prepared," Araqchi said.
According to Reuters, Iran had submitted its proposal to the US through mediators on September 16. A senior Iranian official subsequently said Tehran was prepared to reopen the strait within a week if Washington reduced military pressure and lifted its blockade of Iranian ports.
The proposal could also lead to broader negotiations on mutually agreed issues, potentially including Iran's nuclear programme. Iranian officials have said Tehran is willing to discuss the programme but would not accept what President Masoud Pezeshkian described as bullying or coercion.
The Iranian proposal came amid a conflict that has disrupted oil flows through the critical shipping route and affected the wider global economy. The Strait of Hormuz is a major transit route for global energy supplies.
Reports of possible post-election bombing campaign
The rejection of Tehran's proposal came amid reports that Trump expects the US bombing campaign against Iran to resume after the November midterm elections.
The Wall Street Journal reported that Trump had told his staff that he expected a renewed bombing campaign after the midterms and remained sceptical that Tehran would meet his demands. Reuters also reported that the newspaper had cited unnamed US officials in its account.
Trump has not publicly confirmed that he plans to resume bombing after the elections. Earlier, he had said he believed a deal with Iran could be reached after the midterms.
The latest developments come as the US-Iran conflict enters its seventh month, with previous attempts at diplomacy failing to produce a lasting settlement. The conflict began on February 28 with US and Israeli attacks and has since alternated between pauses and renewed strikes.
Iranian President Masoud Pezeshkian has said Tehran is ready for talks on its nuclear programme and other issues, but that Iran would defend itself against pressure, threats and attacks. Iranian officials have also indicated that Tehran does not intend to make concessions on its stated rights, including uranium enrichment.
The immediate status of the Iranian proposal remains unclear. While Trump has publicly said he rejected it, Araqchi said on Sunday that Iranian officials were still awaiting a formal response through the mediators handling the discussions.