Iran Offers To Reopen Strait Of Hormuz, Delays Nuclear Talks, But President Trump Rejects Proposal: Report

• Iran proposed to reopen the Strait of Hormuz in exchange for security guarantees, while delaying nuclear talks, according to Al Jazeera.
• The proposal was reportedly rejected by President Trump as the US President commended the US naval actions likening them to "pirates." 
• Iran previously implemented a $1-per-barrel transit fee, payable in Bitcoin or other digital assets, to circumvent restrictions during its two-week ceasefire.

Iran has reportedly offered to reopen the Strait of Hormuz on Saturday and end the US blockade in exchange for security guarantees, but has delayed nuclear talks but the proposal has been allegedly rejected by President Trump.

According to an Al Jazeera report, a senior Iranian official was quoted as saying, “Iran has called for a reduction in tensions by reopening shipping in the Strait of Hormuz and ending the current US blockade.

The proposal, which was passed through mediators, calls for delaying negotiations on Iran’s nuclear program to a later stage. Tehran sees the sequence as a strategic move to defuse immediate tensions and open the door to a broader agreement.

"Under this framework, the negotiations on the more complicated nuclear issue have been moved to the final stage to create a more conducive atmosphere," the official said, who spoke on condition of anonymity. 

Energy Select Sector SPDR ETF (XLE) closed in the red, down 1.34%, but edged slightly higher after hours to $58.90. On StockTwits, retail sentiment around XLE remained in the ‘bullish’ zone, while chatter stayed at ‘normal’ levels over the past day.

Trump Calls US Navy Operation ‘Like Pirates’

The US Navy had acted “like pirates”, President Trump said previously, describing a military operation to take a ship during the blockade of Iranian ports, the report stated. 

“We’re kind of like pirates, but we’re not playing games.” Trump’s piracy analogy comes as legal experts are raising alarm over Iran’s blockade of the crucial Strait of Hormuz and its plans to impose a price for ships transiting it. 

Iran reportedly suggested levying a $1-per-barrel transit tax on oil tankers during a two-week ceasefire in the Strait of Hormuz last month, payable in Bitcoin (BTC) or other digital currencies. Officials stated the system was devised to sidestep restrictions and reduce traceability, requiring vessels to provide shipping details before payment.

At the time of writing, Bitcoin’s price was trading at $78,225, up over 0.4% in the last 24 hours. On Stocktwits, retail sentiment around BTC dropped to the ‘bearish’ zone from ‘neutral’ zone. Chatter around it stayed at ‘normal’ levels over the past day.

Read also: Trump-Linked WLFI Hit Another Low After Quietly Selling Nearly $6 Billions In Tokens: Report

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