Iran is waiting for mediators to deliver an official US response after President Donald Trump rejected its proposal to reopen the Strait of Hormuz to commercial shipping within seven days. Foreign Minister Abbas Araghchi said its terms matched a June US-Iran memorandum.
Iran said it raised reopening the waterway and ending hostilities during talks on the sidelines of the UN General Assembly this past week. The strait usually carries about a fifth of the world’s oil and gas supply and has been effectively closed since the war began in February.
Oman, which is mediating, called for continued dialogue and cooperation to protect navigation. US ambassador to Nato Matthew Whitaker backed Trump’s rejection, while Treasury Secretary Scott Bessent said US economic pressure was taking a toll, citing Turkey, Oman and the UAE halting flights from various Iranian airlines and some banks in Turkey and the UAE stopping transactions with Iran.
