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Trump Rejects Iran's Seven-Day Ceasefire; War Could Resume After Midterms
Iran proposed reopening the Strait of Hormuz within a week if the U.S. lifts its blockade and sanctions. Trump rejected it Saturday, telling aides he expects bombing to resume after November elections.
Iran's Foreign Minister Abbas Araghchi laid out a seven-day roadmap on Friday at the United Nations to end the war and reopen the Strait of Hormuz. Under the plan, the U.S. would lift its naval blockade on Iranian ports, waive sanctions on Iranian oil sales, and release approximately $12 billion in frozen Iranian assets within four or five days, clearing the way for the strait to reopen and nuclear talks to begin by day seven. The plan also called for a wider regional ceasefire including Lebanon and Yemen. President Trump rejected the offer Saturday morning, telling reporters that Iran wanted a deal only "because they're losing so badly." According to the Wall Street Journal, Trump told aides he is skeptical Iran would fulfill his demands and expects to resume bombing the country after the November midterm elections. The rejection came after a three-hour meeting between U.S. and Iranian officials at the UN this week that yielded no announced breakthrough. Iran's offer mirrors a June 2026 Islamabad Memorandum of Understanding that collapsed over disagreements on deal terms. Iranian Foreign Minister Araghchi said Sunday that Tehran will not back down from its ceasefire terms "even if it comes to a doomsday war," and that he is still waiting for an official U.S. response through mediators. Trump administration officials told Fox News they believe Iran is miscalculating by wagering that rising oil prices and the midterm elections will weaken Trump's negotiating position. State Department spokesperson Tommy Pigott said "the president holds all of the cards here," noting that U.S. forces maintain control of the Strait of Hormuz, with 40 million barrels of oil transiting in the previous 48 hours. U.N. Ambassador Mike Waltz said Trump rejected Iran's proposal because Tehran asked for "everything up front" and questioned whether Iran is negotiating in good faith. The Strait of Hormuz carries roughly one-fifth of global oil and natural gas in normal times. Since the war began on February 28, traffic through the strait has remained far below pre-war levels due to Iranian attacks on vessels. The U.S. naval blockade and economic isolation have dealt significant damage to Iran's economy, driving the national average U.S. gasoline price to $4.49 per gallon—a record high for this time of year, according to AAA.