US President Donald Trump has rejected a proposal from Iran to reopen the Strait of Hormuz to commercial shipping within a week. Speaking to reporters at the White House, Trump described the proposed terms as "not acceptable," claiming that the United States already maintains total control over the strategic waterway and that significant amounts of oil continue to pass through.
Iranian Foreign Minister Abbas Araghchi acknowledged the comments on Telegram, stating that Tehran would wait for official responses from international mediators before making further decisions. Araghchi had previously stated at the United Nations in New York that an agreement could be reached based on a 14-point memorandum of understanding signed in June. That agreement aimed to establish a ceasefire, prevent Iran from acquiring nuclear weapons, and end military blockades and sanctions, but it broke down after both sides resumed military strikes.
The Strait of Hormuz is a critical shipping route for global energy, usually handling about a fifth of the world's gas and oil supplies. It has been largely blocked since conflict broke out in February, leading to sharp fluctuations in global energy prices. While Trump claimed US success in getting oil out through the strait, commodities analytics firm Kpler reported that recent transit numbers have dropped significantly, averaging around 18 transits per day and falling as low as nine on certain days.
The ongoing closure has heightened economic pressure on the Trump administration ahead of the US congressional elections in November. The situation is further complicated by escalating attacks from Iran-aligned Houthi forces in Yemen, who have targeted Saudi oil facilities and seized key territory along the Red Sea, threatening another vital maritime shipping chokepoint.