Key Takeaways
- US President Donald Trump calls for complete economic isolation of Iran.
- Iran hints at reopening Strait of Hormuz if US fulfills demands.
- Trump believes a deal will be reached after the US midterm elections.
US President Donald Trump has called for complete economic isolation of Iran, stating his belief that a deal will be reached after the US midterm elections in November.
In a combative speech to the UN General Assembly, Trump emphasized the need for international cooperation to enforce economic sanctions on Iran, saying, 'I call on all nations to help to enforce the complete economic isolation of Iran.'
Iran, however, has shown no signs of backing down, with a senior official stating, 'The UN General Assembly is a golden opportunity for the US to return to diplomacy.'
The senior Iranian official added that Iran could reopen the Strait of Hormuz to Gulf shipping within seven days if the US fulfilled Tehran’s demands to ease military pressure and lift an American blockade on Iranian ports.
Secretary of State Marco Rubio told NBC’s ‘Today’ show that the US is open to speaking with the Iranians, ‘especially if it has the prospects of leading to something positive and ultimately achieving the goal of what this is all about.’
Despite the willingness to negotiate, Iran remains firm in its stance, with Parliament Speaker Mohammad Baqer Qalibaf stating, 'Trump must understand that he cannot impose his power on the Iranian people and its armed forces.'
The US President is scheduled to meet with leaders of the six Gulf Arab states: Bahrain, Kuwait, Qatar, Oman, Saudi Arabia, and the United Arab Emirates, all of whom are keen to restore shipping through the Strait of Hormuz but wary of giving Iran too much power.
The Strait of Hormuz is a critical conduit for a fifth of global oil and gas shipments, and its reopening is seen as a key factor in resolving the conflict.
There is some relief on oil markets, as sources suggest that the situation may ease after the US midterm elections, potentially leading to a diplomatic breakthrough.
I call on all nations to help to enforce the complete economic isolation of Iran.
Donald Trump, US President
The UN General Assembly is a golden opportunity for the US to return to diplomacy.
A senior Iranian official, Unnamed
Trump must understand that he cannot impose his power on the Iranian people and its armed forces.
Mohammad Baqer Qalibaf, Parliament Speaker and former head of Iran’s negotiating team
