Iran War Economy
FILE - In this photo released by Tasnim News Agency, a Revolutionary Guard Navy (IRGC) speedboat approaches the cargo ship Epaminondas during what state media described as the seizure of one of two vessels accused of violations in the Strait of Hormuz, April 21, 2026.
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The Trump administration seems unlikely to accept Iran’s offer to end the war and its chokehold on the Strait of Hormuz. The proposal delivered by Pakistan calls for the U.S. to lift its blockade on Iran. It also would postpone discussions on the Islamic Republic’s nuclear program. U.S. Secretary of State Marco Rubio has appeared to rule that out. He says preventing Iran from developing a nuclear weapon remains a “core issue.” The White House says U.S. President Donald Trump’s national security team has discussed the offer and Trump will address it later. The offer emerged Monday as Iran Foreign Minister Abbas Araghchi visited Russia, which has long been a key backer of Tehran.