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Trump Rejects Iran Proposal to Reopen Hormuz, Tehran Says Diplomacy Is Only Solution
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- Published
- Sep 27, 2026, 4:09 AM UTC
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Oil prices jumped on Monday after U.S. President Donald Trump rejected an Iranian peace proposal aimed at ending the conflict.
Experts say Trump sees economic sanctions as key to extracting more concessions but he risks losing leverage.
President Trump said he was rejecting an Iranian plan to reopen the Strait of Hormuz. The Iranian proposal is similar to a memorandum of understanding agreed upon by the U.S. and Iran back in June.