Trump Says Iran Ceasefire on 'Massive Life Support' as Diplomatic Talks Collapse
President Trump rejected Iran's latest peace proposal, calling it "totally unacceptable" and saying the ceasefire is on "massive life support." Both sides are accusing each other of making unreasonable demands as tensions in the Strait of Hormuz push oil prices to new highs.
Stalled Peace Talks
US President Donald Trump says the Iran ceasefire is "on massive life support", and slammed Iran's response to a US peace proposal, sent yesterday via Pakistan. Diplomatic efforts to forge a peace deal between the United States and Iran appear to have hit a wall, with each side accusing the other of making unreasonable demands, even as continuing tensions in the Strait of Hormuz are sending oil prices to new highs.
Iran's Demands
Iran is seeking an end to the conflict, the lifting of the U.S. blockade, the release of frozen assets, and an end to what it called "piracy" against Iranian ships. Tehran's proposal included ending the naval blockade and lifting US and international sanctions, while preserving Iran's control over its nuclear programme and foreign policy.
Oil and Economic Impact
Oil prices climbed after Trump's latest comments, with the international benchmark Brent crude up 2.69 percent to $104.01 a barrel by 23:36 GMT on Sunday. American consumers are facing a $37 billion hit from the spike in gasoline and diesel prices since the war with Iran started, and as of Monday afternoon, that increase in costs amount to more than $284 per household.