Iran holds firm on Hormuz demands as Trump rejects proposal

President Trump rejected Iran's seven-day proposal to reopen the Strait of Hormuz and end hostilities, saying Tehran is negotiating only because it is losing.

Foreign Minister Abbas Araghchi said Iran had yet to receive a formal US response through Qatari mediators and refused to soften its conditions, which include lifting the naval blockade, easing oil sanctions and releasing roughly $12 billion in frozen assets.

Qatar hopes to relay Washington's definitive response to Tehran on Tuesday as Brent crude climbed past $107 a barrel.