US-Iran War: Trump Rejects Tehran's Ceasefire Proposal, Says 'They're Losing Badly' Iran Backs Diplomacy Top Updates

(MENAFN- Live Mint) A flicker of hope of ending the ongoing US-Iran war is fading fast after US President Donald Trump rejected Tehran's proposal for a seven-day ceasefire that would have paved the way for the reopening of the Strait of Hormuz, a crucial waterway that has been effectively shut since the war began in late February.

The latest rejection by the US President is now raising fresh uncertainty over diplomatic efforts to end the conflict, despite Tehran insisting that only a diplomatic solution can break the deadlock.

Also Read | US-Iran war: Trump rejects Tehran's ceasefire proposal to reopen Hormuz Here are the top updates on the US-Iran war: On Saturday (local time), Trump told reporters before departing the White House that he was rejecting Iran's seven-day ceasefire proposal, which would have helped reopen the Strait of Hormuz, provided Washington accepted Tehran's demands, including ending the naval blockade of Iranian ports and unfreezing some Iranian assets. Rejecting the proposal, Trump said, "They made a proposal, but I rejected it," and added, "They want to make a deal where they open the strait immediately because they're losing so badly." The US President's remarks came after The Wall Street Journal, citing US officials, reported that Trump had rejected the proposal and was expecting renewed bombing after the US midterm elections, scheduled for 3 November.

2. Following Trump's rejection, Tehran on Sunday (local time) insisted that diplomacy was the only way to end the deadlock between the two countries. Iran's Foreign Minister Abbas Araghchi, in a social media post, wrote, "Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met," and added, "Only a negotiated solution can get them out of this deadlock."

3. However, despite Trump's public rejection, mediators facilitating US-Iran peace talks have not yet officially communicated confirmation of the rejection of the plan, Araghchi said. In a post on Telegram, he added, "We are waiting for the mediators to convey the definitive views to us, and we will make a decision based on them."

Also Read | Iran offers to reopen Hormuz in 7 days: 3 conditions it has set for Trump

4. Earlier this week, Tehran announced a seven-day ceasefire proposal at the United Nations General Assembly (UNGA) in New York, saying it had been transmitted to the Americans through Qatari mediators. At the UN, Araghchi told reporters on Friday that the proposed deal would trigger a seven-day countdown to reopen the Strait of Hormuz and pause regional fighting. The Iranian Foreign Minister noted, "If there is seriousness on the US side to come to a deal and reopen the Strait of Hormuz, everything is now prepared." He added that if Washington agreed, the two sides could resume wider talks "on mutually agreed subjects."

5. On Saturday (local time), US Treasury Secretary Scott Bessent claimed success in economically isolating Tehran. In a post on X, Bessent said he had sent a team of envoys around the world to pressure countries to isolate Iran, while praising the new sanctions targeting Iranian airlines and banks. Bessent added that both Turkiye and Oman had agreed to halt incoming flights from one of Iran's private carriers, Mahan Air, while the United Arab Emirates (UAE ) had halted all incoming flights from Iranian airlines. The US Treasury Secretary also welcomed the latest banking restrictions. On Wednesday, the UAE central bank suspended transactions involving Iranian Bank Melli branches in the country, citing alleged violations of laws related to money laundering, terrorism financing and arms proliferation.

However, it remains to be seen whether Iran will resume fighting or whether the mediators will be able to convince the US to agree to a ceasefire.

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