3 hours agoTrump rejects Iran proposal as Bessent says economic pressure is ‘delivering results’
President Donald Trump said Saturday that he rejected Iran’s proposal to reopen the Strait of Hormuz and resume nuclear talks, as Treasury Secretary Scott Bessent said the administration’s economic pressure campaign against Tehran is “delivering results.”
Under the Iranian proposal, Tehran would reopen the key waterway and resume nuclear negotiations within seven days if the U.S. lifts its naval blockade of Iranian ports, waives sanctions on Iranian oil sales and observes a ceasefire that would include Lebanon.
“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,” Trump told reporters Saturday.
Trump claimed the U.S. has “total control” of the Strait of Hormuz and said 29 ships passed through the waterway Friday night.
“What they want to do is immediately open the Hormuz Strait. You know why? Because they’re dying,” Trump said, arguing that Iran has been cut off from revenue. “They have no money coming in.”
Treasury Secretary Scott Bessent, meanwhile, said Saturday that the administration’s economic pressure campaign against Iran is prompting countries and financial institutions to restrict business with Tehran.
Bessent said Treasury officials were dispatched around the world following the launch of Operation Economic Outcast to press governments to take action against Iran.
“These efforts are delivering results,” Bessent wrote on X, pointing to restrictions involving Iranian airlines and commercial banks in Türkiye, Oman and the United Arab Emirates.
Bessent also cited the declining value of Iran’s currency as evidence of the economic toll on Tehran and said the administration would continue its pressure campaign.
The developments come as Iranian President Masoud Pezeshkian departed New York for Tehran following the annual gathering of world leaders at the United Nations. During his U.N. appearance, Pezeshkian pushed back against Trump’s threats against Iran while also signaling that Tehran remains open to diplomacy.
Fox News Digital’s Greg Norman-Diamond and Brittnay Miller contributed to this report.