US President Donald Trump said Iran’s proposal concerning the opening of the Strait of Hormuz was “simply not enough,” while maintaining that Tehran wants an agreement as the US-Israeli war on Iran continues.
In a wide-ranging interview with Time Magazine conducted several days before its publication, Trump said Iran’s economy was collapsing and insisted that any agreement would have to constitute what he described as a real deal.
He also said renewed attacks on Iran after the US midterm elections remained possible and asserted that Washington controls the Strait of Hormuz.
Iranian President Masoud Pezeshkian said Tehran would continue seeking dialogue with Washington despite what he described as three US attacks on Iran during negotiations.
Speaking during a meeting with entrepreneurs, Pezeshkian said Iran had never avoided dialogue and would not do so, according to the semi-official Tasnim news agency.
He also said the government was seeking to address problems affecting the business sector.
Amid restrictions at sea, Pezeshkian said Iran was working to expand land-based import and export routes through Pakistan, Iraq, Turkmenistan and Azerbaijan.
Trump, meanwhile, said Iran could not be permitted to possess nuclear weapons and suggested oil prices would decline once an agreement was reached.
Energy shipments through the Strait of Hormuz have recovered, but analysts continue to describe conditions along the crucial route as fragile and costly.
Abdul Khalique, head of the maritime centre at Liverpool John Moores University, said tanker-to-tanker transfers were playing a greater role while security risks persisted following tanker attacks in Hormuz on September 29.
Commodity analytics firm Kpler said Middle Eastern crude exports had recovered to about 80 percent of pre-war levels.
That remained 3.2 million barrels per day below the 19.5 million barrels per day exported in February, before the US-Israel war on Iran began.
Trump also rejected reports of US ammunition shortages, saying Washington was stockpiling weapons and intended to distribute large quantities to allies.