A new dispute emerged over what Washington might offer Iran in exchange for concessions.

Trump strongly denied a report that his administration had proposed sanctions relief and access to frozen Iranian funds. In a Truth Social post, he said he had offered Iran “nothing” and called the report false.

The report, citing unnamed U.S. officials, said economic relief could be considered if Tehran took concrete steps to limit its nuclear activities. Because the White House and the officials cited in the report have offered conflicting accounts, the issue remains disputed.

Iran proposal

Iranian Foreign Minister Abbas Araghchi was expected to meet mediators in New York as discussions continued around Tehran’s revised seven-day peace proposal.

Iranian officials have said diplomacy remains the only viable way to resolve the confrontation, but they insist that any agreement must address Tehran’s conditions, including restrictions on its trade and access to the Strait of Hormuz.

Tehran has also said that no new direct negotiations with U.S. officials were scheduled, suggesting the current process remains largely dependent on intermediaries.

Nuclear talks

The nuclear dispute remains at the heart of negotiations. Washington wants measures that prevent Iran from developing a nuclear weapon and place limits on its uranium stockpile.

Iran has maintained that its nuclear program is peaceful and has resisted demands it views as surrendering sovereign rights. Previous ceasefire efforts earlier in 2026 failed to produce a lasting settlement, leaving both sides far apart despite repeated rounds of indirect diplomacy.

Oil and diplomacy

The Strait of Hormuz remains economically critical because it normally carries roughly one-fifth of global oil and liquefied natural gas shipments. Shipping volumes have remained below pre-war levels, even as some tanker and LNG traffic has recently increased.

The disruption has contributed to higher energy prices and added pressure to the broader global economy.

For now, the diplomatic process remains exploratory rather than a breakthrough. The main questions are whether Washington and Tehran can agree on terms for reopening the Strait, whether sanctions relief becomes part of a formal package, and whether nuclear negotiations can move beyond the positions that have stalled previous attempts at a deal.