Iran Says Won’t Soften Demands As Trump Rejects Hormuz Offer

By Eltaf Najafizada and Courtney Subramanian

Sep 27, 2026 (Bloomberg) –Iran stuck to its seven-day proposal for reopening the crucial Strait of Hormuz, saying it won’t soften its conditions, while President Donald Trump sent mixed signals about his willingness to reach a deal.

The conditions Iran wants are something Washington might have agreed to about a year ago, Trump told Axios in an interview on Sunday, saying that Tehran has overplayed its hand. The US president said he expects negotiations to resume this week even though he rejected Iran’s latest proposal, Axios said.

Earlier, the Islamic Republic indicated it was awaiting a definitive US response to its demands and that it had yet to receive anything from mediators Qatar and Pakistan, state-run broadcaster IRIB reported late Saturday, citing Foreign Minister Abbas Araghchi. 

“The US president has made some good remarks as well as many contradictory ones, which unfortunately we hear from him frequently,” Araghchi was quoted as saying.

Only a “negotiated solution” can resolve the impasse over the global energy bottleneck, he added.

US and Iranian negotiators had been exploring a deal that would see Tehran reopen the strait and Washington lift a blockade of Iranian ports, according to a person familiar with the matter. The pact would have been similar to the memorandum of understanding the two reached in mid-June, which led to a fragile ceasefire that soon collapsed.

“They made a proposal but I rejected it,” Trump said Saturday as he departed the White House, referring to Iran. “They want to make a deal where they open the strait immediately because they’re losing so badly.” 

Araghchi took a defiant stance in a television interview aired on Sunday, seeking to put the onus on the US president to make concessions on Iranian demands that he has rejected.

“We are ready to open the strait if certain things are done by the US,” Araghchi told NBC’s Meet the Press. “And these things are not new.”

While there’s always room for negotiations, “we have no reason to come back to diplomacy and engage with this administration once again” because the US has repeatedly attacked Iran during Trump’s second term, Araghchi said. 

“We stand firm in the face of any aggression against us, even if it comes to a doomsday war,” the minister said.

Treasury Secretary Scott Bessent argued that the US economic pressure campaign on Iran is working and that China — the biggest buyer of Iranian oil — has “substantially reduced any assistance to Iran,” increasing pressure on Iran to negotiate a deal on the Strait of Hormuz.

“Probably within the next two weeks, they’re going to make their final delivery of oil to China and then they will have nothing,” Bessent said on Fox News’ Sunday Morning Futures. “I believe that they are feeling the pressure here and that’s why they want the deal.”

Houthi Attacks

Saudi Arabia’s capital came under attack from Houthi militants in Yemen on Saturday — the latest sign of Iranian-backed groups stepping up hostilities against US allies in the Middle East.

Saudi-backed coalition forces in Yemen said air defenses intercepted two drones launched by the Houthis toward Riyadh, as well as a ballistic missile targeting the southern border area of Khamis Mushait. 

About a week ago, air-raid alerts were issued for Riyadh’s residents for the first time since the height of hostilities during March and April. Air defenses intercepted missiles headed toward the Saudi capital.

Earlier, the Wall Street Journal reported Trump expects to resume the bombing campaign against Iran after US midterm elections in early November and is skeptical about Iran’s willingness to meet his demands.

Trump declined to answer a question about whether he would resume the bombings after the midterms.

Iranian President Masoud Pezeshkian, speaking at the United Nations General Assembly in New York last week, said his country wouldn’t allow freedom of navigation through the Strait of Hormuz while sanctions and a US blockade remain in place. 

Tehran wouldn’t give up the right to develop nuclear technology for economic purposes either, he added.

© 2026 Bloomberg L.P.

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