Trump turns down Iran’s peace deal on Strait of Hormuz

The United States (US) President, Donald Trump, has rejected an Iranian proposal to reopen the Strait of Hormuz for commercial shipping within a week.

Trump’s decision came barely 24 hours after Iran’s Foreign Minister, Abbas Araghchi, disclosed that an agreement could be reached if necessary conditions contained in a memorandum of understanding (MOU) signed by the two countries in June are strictly adhered to.

He told reporters on Saturday at the White House that Iran made the deal after recording huge losses, following the closure of the waterway channel.

The vital waterway through which around a fifth of the world’s gas and oil supply usually flows has been effectively closed since the outbreak of war in February.

“I’m rejecting their deal,” Trump said on Saturday, adding that the US already had “total control” of the strait, with “massive amounts of oil” passing through it.

“They want to make a deal, and I think that’s fine. I like making a deal, too. But that deal would not be acceptable,” he added.

Before the announcement, sources inside the White House had claimed that Trump was sceptical that Iran would meet his demands and had told his staff that he saw a renewed bombing campaign as probable.

Iran responded to US and Israeli air strikes, beginning in late February, by attacking Israel and US bases in the Gulf and Arab Gulf allies of the US – as well as blocking the Strait of Hormuz. Its closure has caused wild fluctuations of energy prices.