Trump shifts to economic pressure on Iran as Strait of Hormuz stays shut and talks stall

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8 days · 11 summary articles
President Donald Trump said on Sunday the United States is “only semi-negotiating” with Iran and is now prioritizing economic pressure over military action, as the Strait of Hormuz remains closed and talks stall over its reopening.
In an interview with Axios, Trump described the U.S. approach as “low-keying it,” adding, “We are just watching Iran with its huge inflation and the fact they have no money.” He claimed Iran’s economy is in “very bad shape” due to a U.S. naval blockade in place since April, which has slashed Iran’s oil exports and tightened financial strain. “It will work out. It always works out. It’s like a chess game,” Trump said. A White House spokesperson separately stated that “we have achieved all military objectives regarding Iran” .
Iran has rejected the notion of direct talks with Washington. Foreign Ministry spokesman Ismail Baghai responded to Trump’s chess analogy by stating that Iranians “have shown they are professional chess players,” according to Iranian media. Tehran insists the Strait of Hormuz will remain shut until the U.S. meets six conditions: ending military threats, halting actions against Iran and its allies, withdrawing naval and air forces enforcing the blockade, paying compensation for war damages, lifting sanctions, and unfreezing Iranian assets .
Iran and Oman are finalizing a separate agreement on new shipping routes through the strait, with Iran planning to impose fees for maritime services, but this does not address the full reopening of the waterway. The U.S. military’s Central Command reported redirecting 53 commercial vessels, boarding two, and disabling two others under the blockade .
Oil prices have fallen to around $78 a barrel, easing pressure on U.S. consumers, Trump noted. However, shipping disruptions persist, with supertanker charter rates surging to $481,000 per day as war-risk insurers withdraw coverage .
Democratic Sen. Chris Murphy said Sunday that Trump has “lost” the war with Iran and urged accepting a “bad deal” to reopen the strait, arguing that continued fighting weakens Washington while strengthening Tehran .
The White House has also faced setbacks in parallel diplomatic efforts. Israeli Prime Minister Benjamin Netanyahu publicly rejected Trump’s 15-point Gaza plan, which called for Hamas disarmament and Israeli withdrawals, with Netanyahu insisting Israel would not pull back until Hamas is fully disarmed .
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