President Donald Trump rejected Iran\u2019s response to a U.S. proposal to bring an end to the war in the Middle East, calling the message \u201ctotally unacceptable\u201d on Truth Social.<\/p>\n\n\n\n
\u201cI have just read the response from Iran\u2019s so-called \u2018Representatives,\u2019\u201d Trump posted Sunday afternoon. \u201cI don\u2019t like it.\u201d<\/p>\n\n\n\n
Trump did not offer details about Iran\u2019s response, which Iranian state media reported was sent through Pakistani mediators.<\/p>\n\n\n\n
Talks between Tehran and Washington have stalled in recent weeks. The two sides continued to trade fire in the Persian Gulf on Saturday, more than a month after a temporary ceasefire deal that was initially intended to reopen the Strait of Hormuz was announced.<\/p>\n\n\n\n
Iran has continued to block ships from passing through the strait, disrupting critical Gulf oil supplies and prolonging the global economic uncertainty surrounding the conflict.<\/p>\n\n\n\n
Markets have soared and oil prices have dropped over the last week, however, amid anticipation that a deal could be close after weeks of talks and occasional setbacks.<\/p>\n\n\n\n
Energy Secretary Chris Wright told NBC News\u2019 \u201cMeet the Press\u201d on Sunday that the U.S. was still waiting for a \u201cclear resolution\u201d from Iran on its latest proposal.<\/p>\n\n\n\n
He told moderator Kristen Welker that the U.S. was seeking the \u201cfree flow of traffic through the international waters that are the Straits of Hormuz, and an end to the Iranian nuclear program.\u201d<\/p>\n\n\n\n
\u201cWhen we start to get free flow of traffic through the Strait of Hormuz, energy prices will come down,\u201d he added.<\/p>\n\n\n\n
Mike Waltz, the U.S. ambassador to the United Nations, meanwhile told ABC News that the negotiations had gone \u201clonger and slower, I think, than anyone would like\u201d but stressed that \u201cthose negotiations and that diplomacy is ongoing.\u201d<\/p>\n\n\n\n
Trump\u2019s plan for military vessels to escort merchant ships through the Strait of Hormuz, known as \u201cProject Freedom,\u201d was paused last week just days after it was announced.<\/p>\n\n\n\n
The U.S. has meanwhile continued its own blockade of Iran\u2019s ports, but a U.S. intelligence analysis concluded Tehran could withstand a naval blockade for months.<\/p>\n\n\n\n
In a phone interview with NBC News on Friday, Trump said \u201cNo\u201d when asked if the conflict with Iran was over.<\/p>\n\n\n\n
\u201cIt\u2019s over when it\u2019s over,\u201d the president said. \u201cBut we certainly have won militarily. We have to get people to come out of the caves [in Iran] and sign something.\u201d<\/p>\n\n\n\n
Roughly 20% of the world\u2019s oil passed through the Strait of Hormuz before the U.S. and Israel attacked Iran on Feb. 28.<\/p>\n\n\n\n
In the interview, Trump said of the critical waterway: \u201cWe really control it; they don\u2019t. And we\u2019ve taken the business away from them.\u201d<\/p>\n\n\n\n
There are \u201cno boats going into Iran,\u201d he added. \u201cThey\u2019re dying.\u201d<\/p>\n\n\n\n
More important than bringing about an immediate end to the conflict is striking a deal that is in the best interests of the U.S., he suggested.<\/p>\n\n\n\n
\u201cI don\u2019t want to get there if it means I can\u2019t make the best deal,\u201d he said. \u201cI\u2019ve got to make good deals. We\u2019re pretty close.\u201d<\/p>\n\n\n\n
Iran\u2019s Foreign Minister Abbas Araghchi said Friday that \u201cevery time a diplomatic solution is on the table, the U.S. opts for a reckless military adventure.\u201d<\/p>\n\n\n\n
The U.S. military blockade of Iran\u2019s ports will eventually deprive Tehran of crucial oil revenue, but the regime could likely withstand the pressure for months without a major economic crisis or lasting damage to its oil fields, energy industry analysts and two Western officials familiar with intelligence assessments told NBC News.<\/p>\n\n\n\n
Administration officials say the blockade is designed to cut off Iran\u2019s oil exports \u2014 the country\u2019s economic lifeline \u2014 and force Tehran to reopen the Strait of Hormuz and bow to U.S. demands at the negotiating table.<\/p>\n\n\n\n
Iran has gradually begun to cut back oil production due to the blockade and, at some point within the next two months, it may run out of storage capacity for its oil and even be forced to shut down some wells. But most analysts say Iran can probably avoid shutting down wells since a significant amount of its oil can be consumed domestically, allowing most oil fields to keep operating.<\/p>\n\n\n\n