US-Iran war: Tehran awaits response as Trump rejects Hormuz plan; Saudi Arabia condemns Iran and Houthis

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Iran-US talks: Key highlights on Strait of Hormuz proposal

Iran proposed a seven-day deal to end the fighting and reopen the Strait of Hormuz.
The proposal requires the US to lift its naval blockade, release frozen Iranian assets and waive sanctions on Iranian oil sales.
Trump rejected the proposal, saying the terms were not acceptable.
Indirect US-Iran talks were held for three hours on Tuesday through mediators, the first since a June agreement collapsed.
US Secretary of State Marco Rubio said the latest talks were positive and Washington was open to further discussions.
Iran says Hormuz reopening is tied to its conditions being met, while Tehran has continued discussions with Oman on shipping through the waterway.
Reopening the Strait could ease pressure on global markets and commercial shipping, while lifting oil sanctions would provide economic relief to Iran.
Qatar has been involved as a mediator, with Iranian President Masoud Pezeshkian meeting Qatar’s prime minister before returning to Tehran.
The latest diplomatic push comes as both sides face growing economic pressure after months of war.
Risk of further conflict remains, with Trump saying he is in no rush for a deal and Iranian security officials warning that targets remain.

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Trump, Xi move to ease tariffs on $60 billion trade

Trump and Chinese President Xi Jinping have moved to ease tariffs covering $60 billion in two-way trade and opened a new dialogue on advanced artificial intelligence, producing the first concrete economic and technology outcomes from Xi’s state visit.

A White House fact sheet said the US-China Board of Trade had reached consensus on recommendations for “more favorable tariff treatment” covering $30 billion of non-sensitive goods in each direction.

China’s official account used firmer language. It described an “arrangement for a 30-billion-US-dollar reciprocal tariff reduction” and said the two leaders directed their officials to implement it.

Neither side disclosed the proposed tariff rates, the size of the reductions or when the changes would take effect.

The American goods covered by the recommendations include agricultural products, fish and seafood, logs and wood products, cosmetics and medical devices. Chinese products include small appliances, toys, holiday decorations and children’s car seats.

The Board of Trade also created a working group to address barriers facing agricultural trade. The mechanism and a separate US-China Board of Investment were chartered during Trump and Xi’s summit in Beijing in May and formally put into operation during the Washington visit.

The investment board will discuss potential projects and obstacles. It is also intended to provide a regular channel for commercially significant investment disputes.

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US Treasury chief claims successes in isolating Iran

US Treasury Secretary Scott Bessent said Saturday that he had sent envoys around the world to pressure countries to economically isolate Iran, hailing new restrictions targeting the country’s airlines and banks.

“At my direction, teams were dispatched across the globe to engage with countries and demand action against the Iranian regime,” he said on X. “These efforts are delivering results.”

Bessent noted that Turkey and Oman have halted incoming flights from private carrier Mahan Air, while the United Arab Emirates has stopped all flights by Iranian airlines.

Dubai, the UAE’s commercial hub, is a major destination for Iran’s carriers, with multiple daily flights, a large Iranian community and close business links.

Bessent also highlighted new banking restrictions.

On Wednesday, the UAE central bank blocked transactions to and from Iran by branches of Iran’s Bank Melli, accusing it of violating laws on money laundering, terrorism and arms proliferation.

Last week, Turkey revoked the license of Iran’s Bank Mellat, a semi-private financial entity that has been subject to Western sanctions for years.

A Wall Street Journal article shared by Bessent said Jonathan Burke, the Treasury’s assistant secretary for terrorist financing, traveled across the Middle East and Europe over two weeks to push the plan to impose what Bessent called “economic D-Day” on Tehran.

US Treasury has held discussions with more than 50 countries, the Journal reported.

Bessent said on Monday that all Iranian airlines “will be shut down around the world.”

However, smaller Iranian carriers continue to operate international routes, particularly to China, which is refusing to yield to US pressure.

Iran awaits US response on Hormuz deal: Araghchi

Iranian Foreign Minister Abbas Araghchi said Tehran is awaiting a formal US response through mediators to its seven-day proposal to end the conflict and reopen the Strait of Hormuz. Araghchi said Iran has noted Trump’s rejection of the proposal but will make a final decision after receiving an official response.

He stressed that reopening the strategic waterway would depend on Iran’s conditions being met. The plan also calls for comprehensive talks on Iran’s nuclear programme and is similar to a US-Iran agreement reached in June that later collapsed.

Oman calls for self-restraint, dialog in Mideast conflict

Omani Foreign Minister Badr Albusaidi called at the UN Saturday for “self-restraint” from all sides in the Middle East war, while stressing that Muscat was ready to mediate.

“We call upon all parties concerned to settle their outstanding disputes through pursuing a policy of self-restraint and foresight, and through engaging in dialog to reach consensual, political solutions and sustainable understandings for the benefit of all,” Albusaidi said, addressing world leaders gathered in New York.

“Oman once again reaffirms its steadfast commitment to continuing its efforts aimed at safeguarding navigation in the Strait of Hormuz… We also call upon all parties to cooperate with Oman in these efforts.”

US aerial activity increases around the Strait

Very heavy US military posturing is now underway around Iran, with five KC-135 Stratotankers, two KC-46 Pegasus aerial refueling aircraft and an MQ-4C Triton surveillance drone observed operating near the chokepoint, per flight-tracking data.

The activity comes directly after US President Donald Trump rejected Iran’s seven-day ceasefire offer.

Iran says it has also kept its military on high alert as US aerial activity increases around the Strait.

At UN, Saudi FM warns world failing to protect Gulf shipping

Saudi Arabia warned UN members Saturday that attempts to block Middle East waterways are a threat to global energy security and demanded the international community do more to defend freedom of navigation.

“The international community has been absent from assuming its responsibilities in confronting all that threatens international peace and security,” Foreign Minister Faisal bin Farhan told the United Nations General Assembly.

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Trump says he rejects Iran proposal on Strait of Hormuz

US President Donald Trump said Saturday that he rejects Iran’s latest proposal to reopen the Strait of Hormuz.

“I reject their proposal,” Trump was quoted as saying by CNN when asked by reporters what he thought about Iran’s plan.

“They want to make a deal where they open the Strait immediately because they’re losing so badly,” he said. “They want to make a deal and I think that’s fine. I like making a deal too.”