Trump Calls Iran's Seven-Day Hormuz Proposal Unacceptable

US President Donald Trump said on Saturday, 26 September 2026 (4 Mehr 1405), that he rejects Iran's latest proposal and will not accept any deal under which Iran immediately resumes its trade, according to remarks carried by EcoIran citing Entekhab and by Donya-e-Eqtesad citing Mehr and Al Jazeera. "Iran wants a deal and I like making deals, but this proposal is unacceptable," he said, and claimed the United States holds full control of the Strait of Hormuz.

According to Al Jazeera, the seven-day plan Foreign Minister Abbas Araghchi presented in New York last week called for the US to carry out, on an accelerated timetable, its commitments under the Islamabad memorandum of understanding, including releasing frozen assets, lifting oil sanctions and ending the naval blockade of Iranian ports, in exchange for reopening the strait, with talks on a final deal starting on day seven. Before Trump spoke, The Wall Street Journal had reported, citing US officials, that he had ruled the plan out; a US official also told Al Jazeera that Washington was in no hurry to respond, although indirect talks mediated by Qatar are continuing.

The stance matters for Iran's currency and gold markets, which are sensitive to news on the talks and on Hormuz.