Iran floated a conditional seven-day plan to reopen the Strait of Hormuz and restart nuclear talks, but U.S. President Donald Trump has privately rejected the proposal, The Wall Street Journal reported on 26 September 2026, citing unnamed American officials.
Tehran’s conditions and mediation
Iranian Foreign Minister Abbas Araghchi, speaking on the sidelines of the UN General Assembly in New York, said that if certain conditions were met, Hormuz could reopen at the end of seven days and talks could restart. Tehran’s conditions, outlined by foreign ministry spokesman Esmaeil Baghaei, include a halt to what Iran calls U.S. “acts of aggression,” an end to the naval blockade and economic warfare, and the release of Iranian assets. The proposal has been channelled through mediators including Qatar.
Houthi strikes and oil prices
According to the Journal, Trump doubts Iran would meet U.S. demands and has told aides he sees renewed bombing after November’s midterm elections as likely — even as Washington and Tehran continue to negotiate through intermediaries over steps meant to prevent Iran from developing a nuclear weapon. CNBC noted it could not independently confirm the WSJ account; there was no immediate formal public rejection text from the White House.
Meanwhile, a Saudi-led coalition said it intercepted two Houthi drones headed toward Riyadh and two ballistic missiles aimed at the Khamis Mushait region — a reminder that Iran-backed proxies remain active even when direct U.S.–Iran fighting has eased. Energy markets remain sensitive: Brent settled near $104 a barrel after a weekly drop, still sharply higher year to date.
For India and other Asian importers, the diplomatic stalemate keeps the world’s most critical oil chokepoint in political limbo — reopen promises on paper, risk still priced into every cargo.
Sources: CNBC; The Guardian
Related: Hormuz and Houthi oil risk explainer; Edible oil import duty cut.
Today’s News 26 Sep 2026 · 10 stories
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