No deal if Hormuz reopens: Trump extends ceasefire, claims Iran losing $500 million a day

Iran swiftly rejected the move, with a spokesman saying Washington had no authority to impose conditions after setbacks in the conflict and arguing that the extension changes nothing. He said the losing side cannot set the terms and that the siege should be answered militarily. Separately, Pakistan welcomed the extension and described itself as a mediator, with Prime Minister Shehbaz Sharif thanking Trump for accepting Islamabad’s request and hoping for a lasting agreement during a second round of talks scheduled in Islamabad. The extension followed the collapse of an earlier diplomatic push after 21 hours of negotiations in Islamabad failed to produce a breakthrough.

US President Donald Trump posted on Truth Social arguing that Iran wants the Strait of Hormuz to remain open so it can earn about $500 million per day in oil revenue, while claiming Tehran would be willing to keep it closed only to save face while the United States maintains a blockade. He noted that people approached him four days earlier claiming Iran wanted to reopen the Strait immediately and said there can be no deal with Iran unless its leaders present a unified proposal. He stated that the military would keep the blockade and extend the ceasefire until such a proposal is submitted and discussions are concluded.