The US-Iran standoff over the Strait of Hormuz has entered another tense phase, with Washington dismissing Tehran’s latest proposal to reopen the crucial waterway as a “cynical” attempt to secure major concessions before substantive negotiations begin. US Ambassador to the UN Mike Waltz said Iran was seeking the release of frozen Iranian assets, sanctions relief and an end to the US naval blockade in exchange for reopening the Strait and moving towards talks. Iranian Foreign Minister Abbas Araghchi has strongly rejected Washington’s account, arguing that the conditions outlined by Tehran concern what Iran considers its rights and insisting that the country remains prepared for diplomacy. US President Donald Trump has rejected Iran’s latest offer, but Washington has continued to signal that diplomacy has not been completely ruled out. Waltz said Trump would keep “all options on the table”, while Trump has indicated that further indirect talks with Iran could take place.

US President Donald Trump has signed a sweeping new sanctions law targeting Russia and Iran, escalating Washington’s economic pressure as the wider Iran war continues to reshape the geopolitical landscape. The legislation expands the pressure on Russia while extending existing Iran sanctions, with the new framework also giving Washington additional tariff powers against major buyers of Russian energy. At the same time, Trump has said the Iran war could come to an end soon and suggested that energy prices could eventually fall sharply once the conflict winds down. The comments come as disruption around the Strait of Hormuz continues to keep global oil markets on edge, with the wider Middle East conflict raising fresh concerns over energy security and shipping routes. Meanwhile, Tehran is pushing for a diplomatic route to revive the Islamabad Memorandum of Understanding with the United States. Iranian officials say efforts are underway to resolve outstanding issues and expect the other side to honour its commitments under the agreement. Pakistan has also stressed the importance of implementing the Islamabad MoU as a way to help defuse regional tensions.