Trump Discusses Iran Proposal With Aides, White House Says
(Bloomberg) — The White House said US officials were discussing Iran's latest proposal but maintained "red lines" on any deal to end the eight-week war, including preventing Tehran from obtaining a nuclear weapon.
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White House Press Secretary Karoline Leavitt told reporters Monday that President Donald Trump convened national security officials to review the proposal. "His red lines with respect to Iran have been made very, very clear," she said, adding that Trump would address the matter "very soon."
The comments followed reports that Tehran proposed an interim deal to reopen the Strait of Hormuz in exchange for Washington ending its blockade of Iranian ports, while postponing more complex negotiations over the country's nuclear program.
Foreign leaders have expressed frustration. German Chancellor Friedrich Merz said the US was being "humiliated" by Iranian leaders and that he can't figure out what exit the Americans are pursuing.
Separately, Iran's Foreign Minister Abbas Araghchi, on a visit to Russia, told President Vladimir Putin that Tehran was committed to strengthening the partnership between their nations. Iran has also signaled nuclear negotiations could be deferred, Axios reported.
An interim accord would reflect views among analysts and some governments that reopening the strait should come first to ease pressure on energy markets, leaving nuclear issues for later talks.
Trump, however, has said Iran's nuclear program must be resolved in any deal, and the blockade will remain until then to pressure Iran by choking off its oil exports.
The first liquefied natural gas shipment since the war began appears to have traversed the Strait of Hormuz to exit the Persian Gulf. The Mubaraz — which loaded a cargo in the United Arab Emirates around early March — is passing the southern tip of India, according to ship-tracking data on Tuesday.
Investors remain largely focused on a growing supply crunch created by the virtual standstill of flows through the strait. Oil held gains as market players weighed the next steps. Brent crude traded near $108 a barrel after advancing 2.8% on Monday.
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