Trump rejects Iran peace proposal; Iranian FM says waiting for mediators to convey final US position

By Global Times, Reporter Xian Yifan

U.S. President Donald Trump stated on March 26 that he had rejected a peace proposal from Iran aimed at ending hostilities, reopening the Strait of Hormuz, and resuming nuclear negotiations. In response, Iranian Foreign Minister Abbas Araghchi reaffirmed Tehran’s commitment to diplomatic resolution and said Iran would await a formal response from mediators.

According to Reuters and other media outlets on March 27, the U.S.-Iran conflict has persisted for nearly seven months, with both sides far apart on a peace framework. Given that negotiations involve the strategically vital Strait of Hormuz, developments are having a significant impact on regional security and global energy markets.

“Reopen Hormuz in 7 Days” Proposal Rejected

The Wall Street Journal reported on March 26 that Trump rejected Iran’s proposal to reopen the Strait of Hormuz within seven days and told aides he might resume airstrikes against Iran after the U.S. midterm elections in November.

“When it comes to Iran, I am not thinking about the midterms, and I will not let the elections influence my decisions,” Trump said during the general debate of the 81st United Nations General Assembly. “My only concern is that Iran must never possess a nuclear weapon.”

CBS News reported that the White House is intensifying economic sanctions against Iran in coordination with multiple countries. Recently, Turkey and Oman suspended inbound flights from Iran’s Mahan Air, the UAE halted all flights from Iranian airlines, and banned all transactions involving Iran’s national bank at UAE financial institutions. U.S. Treasury Secretary Scott Bessent said on March 26 that he had dispatched envoys to several countries urging them to economically isolate Iran.

The Wall Street Journal noted that the White House’s current stance suggests the U.S.-Iran conflict is in a “critical state” between war and peace, with the potential to slide back into hostilities. Officials disclosed that the White House is reluctant to launch large-scale military operations, as further depletion of already limited ammunition reserves could leave U.S. forces unable to respond to regional contingencies. The White House believes that economic pressure will ultimately force Tehran to sign an agreement aligned with U.S. and Gulf Arab interests.

“Diplomacy Is the Only Way Out of the Stalemate”

According to Iran’s official IRNA news agency on March 26, Foreign Minister Araghchi said in an interview that Iran’s peace proposal had been conveyed to the U.S. through mediators.

“Unfortunately, we have heard many contradictory statements from the U.S. president. We are waiting for the mediators to inform us of the White House’s final position, and we will respond accordingly,” Araghchi said. “Iran’s adversaries have exhausted all options without achieving the desired results. Reaching a solution through diplomatic negotiations is the only way for them to escape the deadlock.”

Iranian President Masoud Pezeshkian told Al Jazeera on March 26 that Iran welcomes dialogue, but given past experiences, there is a deep distrust of the U.S. in Tehran. Regarding the reopening of the Strait of Hormuz, he said Iran was not the first to block the waterway, and that the U.S. and Israel had plunged the region into conflict. He stressed that the issue could be resolved through dialogue, not bullying or coercion.

IRNA analyzed that the U.S. has imposed indiscriminate blockades on all Iranian ports and coastlines, pressured other countries to close their airspace to Iran, and banned Iranian civilian aircraft from landing. From the perspective of international law, these measures could be seen as ongoing U.S. military aggression against Iran’s territorial integrity and national sovereignty. In response, Secretary of Iran’s Supreme National Security Council, Ali Rezaei, issued a stern warning to neighboring countries cooperating with Washington, stating: “If these countries continue to participate in this risky adventure, their airports will no longer be able to operate.”

Hormuz Strait Tensions Ripple Through Global Energy Markets

Turkey’s Anadolu Agency recently reported that due to the stalemate in U.S.-Iran negotiations over the Strait of Hormuz, regional security risks persist, keeping global oil prices relatively high.

The New York Times cited data showing that because repairs to Saudi Arabia’s east-west oil pipeline are taking longer than expected, and due to the Houthi group’s increased control over the Bab el-Mandeb Strait, Riyadh has resumed routing vessels through the Strait of Hormuz, thereby increasing its crude oil throughput along the Persian Gulf coast.

Restricted oil transport and rising crude prices have significantly driven up refined fuel costs. According to recent data from the American Automobile Association, the average U.S. gasoline price has risen to $4.48 per gallon—up 50% since the conflict began. Diesel prices have surged even more sharply, rising over 70% in the same period. These increases are expected to have major economic, political, and social consequences for the United States.