President Trump has rejected Iran's offer to reopen the Strait of Hormuz within seven days, the Wall Street Journal reported, citing US officials. He also told aides he expects to resume bombing Iran after the Nov. 3 midterms.
Foreign Minister Abbas Araghchi's terms track the June 17 memorandum: Washington ends its naval blockade, lifts sanctions on Iranian oil and releases ~$12bn in frozen assets. In return, Hormuz reopens and hostilities stop within the week, and wider talks follow. "If the necessary conditions are met, the strait can be reopened, and normal maritime passage restored within seven days," Araghchi said.
A US official told CBS the indirect talks were "positive and constructive," but said Washington is not rushing and holds a strong position in the strait. Officials also told the Journal that Trump is reluctant to restart major combat and his view could shift with the election result. Tehran said it was still waiting for a formal answer.
The report landed after Friday's close. Brent settled $104.32, down 2.1%, on hopes that Iran's return-to-the-memorandum message would open a path. Monday's open is the first test. Watch for a White House denial, a formal US reply, and how Tehran marks the end of Rezaei's deadline this weekend.
Update, Sep 26 afternoon: Trump confirmed it himself. "I'm rejecting their deal," he told reporters leaving the White House on Saturday, calling it "not acceptable." He claimed "total control" of the strait and said 29 ships came out overnight, a figure no tracker has matched. He said nothing about bombing or the midterms, so that part still rests on the Journal's sources. Pezeshkian, leaving New York, said Iran "has not walked away from the negotiating table" but "no longer trusts the United States."