Iran: Trump denies offering sanctions relief

Donald Trump denied on September 28 that he had offered Iran sanctions relief and the release of frozen funds in exchange for nuclear concessions, Reuters reports. [5]

After the September 26 rejection

Donald Trump said on September 26 that he had rejected an Iranian proposal to reopen the Strait of Hormuz and end the fighting, Reuters reports. [1]

According to the report, Tehran had sent the initiative through Qatari mediators and outlined implementation within seven days. That timetable was an Iranian proposal, not a commitment accepted by Washington. [1]

Diplomatic contacts and public disagreement

Reuters also reports separate contacts with mediators on September 28. The denial concerns concessions, not whether contacts took place. [5]

Oil supply was already constrained

The energy stakes are reflected in forecasts published on September 9 by the U.S. Energy Information Administration. The agency expected traffic constraints in the strait through the fourth quarter of 2026, with an average of 5.7 million barrels per day of Middle East crude production shut in during that quarter. [3]

That EIA estimate predates the September 26 rejection. It measures neither actual production losses today nor an oil price change caused by this announcement. [3]