Trump dismisses Iran’s seven-day Hormuz reopening offer, cites lost revenue
President Donald Trump rejected Iran’s seven-day cease-fire plan to reopen the Strait of Hormuz, saying Tehran needs the waterway because its oil income has collapsed.
President Donald Trump announced on September 26 that he had refused Iran’s seven-day proposal to cease fighting, end the naval blockade and reopen the Strait of Hormuz. Trump said Tehran’s push to reopen the channel is driven by a loss of oil revenue, describing the move as a sign that Iran is "dying" financially. The offer, detailed by Foreign Minister Abbas Araghchi at the United Nations General Assembly, called for the United States to lift its blockade of Iranian ports, waive oil sanctions and extend the cease-fire to Lebanon.
Iran’s President Masoud Pezeshkian later asserted that a previous deal with Trump had been scrapped after U.S. military action. Trump countered that the U.S. blockade has prevented Iran from profiting while keeping the waterway open for other vessels. Despite the rejection, the White House maintained that "positive and constructive" diplomatic contacts with mediators are continuing. The dispute keeps the Strait of Hormuz—a vital conduit for global oil—at the center of U.S.-Iran tensions.
Why it matters
The standoff over the Strait of Hormuz affects global oil flow and heightens U.S.-Iran tensions.
How this story developed
- Aug 28 Pakistan, Saudi Arabia and Turkey launch Mecca Defence Alliance, secretariat set in Riyadh
- Sep 3 Greece delivered a diplomatic note to Turkey’s Foreign Ministry, instructed by Foreign Minister George Gerapetritis, contesting Turkish objections to Greek spatial planning frameworks and the creation of two national maritime parks. Athens maintains that international treaties define Aegean sovereignty and that Turkey’s own maritime park declarations overstep its jurisdiction. Both sides exchanged notes reiterating their positions, while Greece pledged to raise any unilateral Turkish actions with European partners. Despite tensions, intelligence chiefs met to keep security cooperation alive, and leaders plan to attend the UN General Assembly.
- Sep 6 Turkey reiterated its long‑standing claims over continental shelves.
- Sep 13 Pakistan reiterated that no immediate military response under the Makkah pact is being discussed.
- Sep 13 The Greek prime minister publicly called for dialogue with Turkey while maintaining a formal protest over Turkey’s maritime park claims.
- Sep 21 Prime Minister Andy Burnham has authorized British aircraft to provide defensive air-to-air refuelling for Saudi jets fighting Houthi rebels in Yemen.
- Sep 21 Prime Minister Andy Burnham said he agreed to Saudi Arabia's request for defensive air-to-air refuelling while travelling to New York for a United Nations General Assembly meeting.
- Sep 22 Burnham announced the decision while traveling to the UN General Assembly.
- Sep 22 Iranian carriers suspended several overseas routes after the United States imposed new aviation sanctions, halting flights to Baghdad, Muscat and Qatar while some China services persist.
- Sep 25 Foreign minister Hakan Fidan announced willingness to meet the kingdom’s technical military needs.
- Sep 25 The UK moved from earlier talks to a formal agreement to provide the Voyager tanker.
- Sep 25 The UAE has not confirmed an official ban despite the cancellation of Iranian flights to Dubai.
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