US-Iran War: Trump Rejects Report That US Will Offer Tehran 'Sanctions Relief' Araghchi Meets Mediators Top Updates

(MENAFN- Live Mint) Hours after a news report, citing US officials, suggested that US President Donald Trump was willing to offer sanctions relief and release frozen Iranian funds in exchange for concrete Iranian steps regarding the nuclear programme, Trump dismissed the report, slamming the news outlet and calling the story a“hoax.”

The development comes as the war in the Middle East drags on, with the US President rejecting Iran's previously proposed seven-day ceasefire, stating,“They made a proposal, but I rejected it,” and adding,“They want to make a deal where they open the strait immediately because they're losing so badly.”

Also Read | US-Iran war: Trump rejects Tehran's ceasefire proposal | Top Updates Here are the top updates related to the US-Iran war:

1. In a Truth Social post on Monday (local time), the US President wrote,“Axios just released a story that 'Trump' offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING!” He added,“Axios' story, like most others, is a HOAX, used only for purposes of satisfying their Trump Derangement Syndrome. They should withdraw this fake story, IMMEDIATELY!” His remarks came after Axios cited an unnamed US official who noted that traffic via the Strait of Hormuz continued to rise, with the naval blockade and sanctions in place. The official added that the White House needs assurance from Tehran this time.

A similar report was shared by CNN, where a US official confirmed that if Tehran offers“concrete progress” on the nuclear issue, the US might be willing to provide sanctions relief and release some frozen Iranian funds.

2. Iranian Foreign Minister Abbas Araghchi, who has been in the US since last week to attend the 81st United Nations General Assembly (UNGA) session, said on Monday that the two warring parties held indirect talks through Qatari mediators, according to a report by Al Jazeera. The Iranian minister told state media that the Qatari mediators would pass on the ideas discussed at the meeting, adding that he remained hopeful of receiving Washington's final response by Tuesday. Araghchi noted,“We talked about ideas and how to find solutions to fulfil Iran's conditions and how to implement those conditions,” and added,“They had some ideas, and we had a discussion that they will also present to the American side.”

Also Read | Iran war LIVE: Trump dismisses report that he offered Iran 'sanctions relief'

3. Oil prices extended their gains for a second straight session on Tuesday, with concerns about potential disruptions to crude supplies from the Middle East amid the US-Iran conflict outweighing signs of a recovery in regional exports. By 0326 GMT, Brent crude futures had climbed $1.49, or 1.4 per cent, to $106.77 a barrel, while US West Texas Intermediate crude rose $1.34, or 1.5 per cent, to $93.94. Both benchmarks had ended the previous session nearly $1 higher, Reuters reported.

4. US Secretary of State Marco Rubio on Monday said that Trump acted to stop Tehran from reaching a“line of immunity,” where the latter could build up enough missiles, drones and other weapons to make military action against its nuclear programme far more difficult. Speaking to Fox News, Rubio noted that the Islamic Republic's wider strategy was to boost its conventional arsenal, deter outside intervention and then move towards a potential nuclear breakout.

5. Data from Kpler released on Monday showed crude exports from major Middle Eastern producers rose to 16.328 million barrels per day (bpd) in September, the highest level since the US-Israeli war with Iran began in late February. Reuters reported that the increase followed a recovery in shipments through the Strait of Hormuz, which were expected to reach around 9.719 million bpd this month. Saudi Arabia also redirected exports from the Red Sea port of Yanbu after attacks damaged its East-West pipeline.

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