U.S. President Donald Trump has rejected an Iranian proposal aimed at reopening the vital Strait of Hormuz to commercial shipping within a week. The announcement came on Saturday, with Trump stating at the White House that Tehran's proposed deal was "not acceptable." He asserted that the United States already maintains "total control" over the strategic waterway.

The Iranian proposal, detailed by Foreign Minister Abbas Araghchi on Friday at the UN in New York, suggested the strait could be reopened and normal maritime passage restored within seven days if "necessary conditions" were met. Araghchi indicated these conditions were outlined in a memorandum of understanding (MOU) signed by both nations in June, and that the actions required from the United States were not new.

President Masoud Pezeshkian of Iran echoed this sentiment, telling CBS News that an agreement based on the previously signed MOU in Pakistan would revert the situation to its prior state if the U.S. agreed to proceed. However, Trump expressed skepticism about Iran's commitment to his demands, reportedly telling staff that a renewed bombing campaign was probable.

The Strait of Hormuz, through which approximately one-fifth of the world's global gas and oil supply typically transits, has been effectively closed since the outbreak of war in February. This closure has led to significant volatility in energy prices and increased pressure on the Trump administration, particularly with the upcoming Congressional elections in November.

Iran initiated attacks on Israel and U.S. bases in the Gulf and its allies in late February, following U.S. and Israeli air strikes. These actions also included blocking the Strait of Hormuz. The MOU was initially intended to facilitate a ceasefire and partially reopen the strait, stipulating that Iran would not pursue nuclear weapons, that military operations would cease on all fronts, and including provisions to end U.S. naval blockades and sanctions.

However, the deal faltered after both sides resumed military actions. Iran has since targeted vessels it deemed to be attempting unauthorized passage through the strait. Kirsten Fontenrose, a former National Security Council member, noted that there is little inclination in the U.S. to revisit the MOU, viewing it as unfavorable, and described Iran's efforts as "pushing against a very closed door."

Trump's rejection signals a continued stalemate in efforts to resolve the conflict and restore crucial energy transit routes. The administration's stance suggests a preference for maintaining current control over the strait rather than negotiating terms perceived as disadvantageous.

Unresolved questions remain regarding the specific demands the U.S. has made of Iran beyond those already stated in the MOU, and what potential diplomatic or military strategies the Trump administration might pursue next to address the ongoing conflict and its economic repercussions.