Trump Denies Reports of Sanctions Relief and Frozen Funds for Iran

U.S. President Donald Trump has denied reports that his administration offered sanctions relief and frozen funds to Iran in exchange for concessions on its nuclear program, dismissing the claims online.

Trump Denies Sanctions Offer on Truth Social

The diplomatic friction intensified after Axios and CNN reported, citing unidentified U.S. officials, that Washington was willing to ease financial penalties and release Iranian assets if Tehran took concrete steps to curb its nuclear ambitions. “This is untrue. I offered them NOTHING!,” Trump wrote, labeling the story a “HOAX.” U.S. and Iranian officials spoke separately with mediators on Monday as part of a renewed effort to end the seven-month war.

Qatari Mediation and Iranian Cabinet Deliberations

Qatar has continued efforts to broker a lasting settlement between Washington and Tehran. “We’re working towards establishing a common ground in order to get into a deal that would save all of us from the repercussions of the conflict,” said Qatari foreign ministry spokesperson Majed al-Ansari. On Wednesday, Iranian Foreign Minister Abbas Araqchi presented the Iranian cabinet with a U.S. proposal following meetings with Qatari mediators in Doha earlier in the week, a government spokesperson confirmed. Araqchi noted that Tehran was waiting for mediators to convey definitive views before making a formal decision.

Diverging Stances on Regional Security and the Strait of Hormuz

The diplomatic maneuverings follow sharp disagreements over regional security corridors and maritime trade. Araqchi posted on social media that any move toward reopening the critical Strait of Hormuz remains contingent on clear conditions being met through a negotiated solution. Trump pushed back on Saturday, arguing that domestic desperation was driving Tehran’s eagerness to reopen the key waterway. “They want to make a deal to open the Hormuz Strait immediately because they’re losing so badly,” Trump told reporters at the White House. Meanwhile, Iranian President Masoud Pezeshkian told the CBS show “Face the Nation” that Tehran was ready for talks on its nuclear program and other issues, maintaining that Iran is not seeking war but will defend itself against pressure and threats.

Energy Markets Respond to Ongoing Middle East Conflict

The broader conflict, launched as “Operation Epic Fury” by the U.S. and Israel in February, has killed thousands and strained global energy markets. Brent crude futures rose 1.16% to $103.78 per barrel at 5:34 a.m. E.T., while U.S. West Texas Intermediate futures gained 1.13% to reach $90.39 a barrel. Additional market data showed Brent climbing to $106.77 a barrel as lingering supply concerns competed with signs of recovering regional crude exports. Saudi Arabia has been drawn deeper into the hostilities this month as Houthi forces advance in Yemen, routing Saudi-backed government forces and threatening petroleum shipments through the Red Sea.