[UPDATE] Trump rejects Iran's offer to reopen the Strait of Hormuz within seven days in exchange for ending the U.S. blockade
The Wall Street Journal reports Trump told staff a renewed bombing campaign is probable after the November elections; asked directly, he did not answer.
Donald Trump said Saturday, Sept. 26, that he rejected an Iranian plan to reopen the Strait of Hormuz (the sea lane off Iran's coast that normally carries about a fifth of the world's oil and gas) within seven days of U.S. acceptance. The offer. Iran's Foreign Minister Abbas Araghchi passed it through Qatari mediators during about three hours of indirect talks with envoy Steve Witkoff and Jared Kushner at the UN in New York. Iran would reopen the strait and resume nuclear talks. The U.S. would lift its naval blockade of Iranian ports, waive oil sanctions and observe a regional ceasefire including Lebanon. The New Yorker, alone among outlets, reports the U.S. would also release about $12 billion in frozen Iranian assets, out of the $24 billion Iran estimates is frozen abroad. The rejection. Trump did not say which terms were unacceptable. U.S. officials say they feel no rush because U.S. forces control the strait, and Trump said 29 ships left it the night before. (TS: Kpler's 10-day average is closer to 18 transits a day, and some days just nine.) “I rejected their deal. They want to make a deal where they open the strait immediately because they're losing so badly.” — Donald Trump Still open. Araghchi answered that “peace cannot be built through threats of annihilation,” and neither side has named a next round of talks.
PREVIOUSLY
- Feb. 28 — U.S. and Israeli strikes on Iran started the war.
- June — The two sides signed a memorandum in Islamabad; it fell apart by July after Iran hit ships in the strait and the U.S. struck back.
- Sept. 22 — Qatari mediators carried messages between U.S. and Iranian negotiators, the first talks since June.
- Sept. 23 — Trump addressed the UN General Assembly, pitching UN budget cuts as the war neared seven months.
- Sept. 24 — Iran's president offered talks but rejected nuclear limits and demanded an end to the U.S. naval blockade.
What U.S. control of the strait has moved so far:
- U.S. officials: about 60 million barrels through the strait over the last 72 hours (Axios).
- Before the war: 21 million barrels a day through Hormuz in early 2026 (Kpler).
- Axios: traffic under U.S. protection is still well below pre-war volumes.