Iranian officials have announced the receipt of an official U.S. response to their latest proposal aimed at ending the seven-month conflict, a development that comes despite President Donald Trump's earlier public dismissal of the offer. The content of the U.S. response remains undisclosed, and it is unclear whether it constitutes acceptance or rejection.
Iranian Foreign Minister Abbas Araghchi presented the U.S. communication to President Masoud Pezeshkian during a Cabinet meeting. Government spokesperson Fatemeh Mohajerani stated that Iran would "make every effort to bring the agreement to fruition and will firmly stand up for the rights of the Iranian people," emphasizing that any agreement must be based on a "win-win strategy."
Araghchi's trip to New York for the U.N. General Assembly, where indirect talks with U.S. officials and meetings with Qatari and Pakistani mediators took place, preceded this announcement. He reportedly briefed the Cabinet on his discussions, including Iran's conditions for reopening the Strait of Hormuz. These conditions, conveyed through mediators, included the U.S. lifting its blockade of Iranian ports, releasing frozen assets, and waiving sanctions on Iranian oil sales.
President Trump had publicly rejected Iran's proposal last week, asserting that Iran was seeking a deal due to significant losses and that its offer was "not acceptable." Despite this rebuff, mediators continued to engage with both sides in an effort to broker a de-escalation and a resolution to the fighting and the blockade of the strait.
Concurrently, the U.S. Treasury Department announced new sanctions targeting individuals and entities globally accused of facilitating Iran's military supply chain. This action is part of the administration's "Operation Economic Outcast" campaign, designed to cut off financial resources for the Iranian government.
Ten individuals and entities in Iran, Hong Kong, and Pakistan have been sanctioned for allegedly procuring weapons and components for Iran's defense ministry amidst the ongoing war.
Iran's economy has experienced a significant downturn since the conflict began in late February. The country's currency hit a new record low on Tuesday, with over 2.5 million rials trading for one U.S. dollar in Tehran, reflecting the war's impact on the national economy. This follows a previous record low set on September 2.
President Trump has characterized Iran as "failing very badly" and reiterated his expectation that the war would conclude soon. Initially, he predicted a conflict lasting only weeks, but more recently indicated it might extend beyond the U.S. midterm elections on November 3.
The escalating economic pressure has also affected the availability and price of medicine in Iran. Some treatments have reportedly more than tripled in price, adding financial strain to patients and their families. The war has become an economic challenge for Iran, which has attempted to influence global energy prices by targeting oil shipping routes, while the U.S. has responded with port blockades and stringent sanctions.
In separate news, Iranian authorities reported the execution of two men on Wednesday, who were found guilty of violence during nationwide anti-government protests in January. According to state media, the men were involved in unrest in Mashhad that resulted in the deaths of four security force members. Their death sentences were upheld by Iran's Supreme Court.