.jpg)
2 hours ago
3
![txbus]7wfz1vv5{52)89o1gd_media_dl_1.png](https://smartcdn.gprod.postmedia.digital/financialpost/wp-content/uploads/2026/05/us-and-iranian-forces-clash-near-strait-of-hormuz.jpg?quality=90&strip=all&w=288&h=216&sig=pfPpFPmQf5_NSSYZYpQ2RA)
Article content
(Bloomberg) — The US was waiting on Iran’s response to its latest proposal to end the war after suggesting word could come imminently, following clashes in the Strait of Hormuz that strained a month-long ceasefire.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Iran has still given no indication whether it will accept President Donald Trump’s plan, sent on Wednesday, which proposes that the Islamic Republic reopen the waterway and the US end a blockade on Iranian ports over the next month.
Article content
Article content
Article content
Tehran’s response is “under review,” Foreign Ministry Spokesman Esmail Baghaei told the semi-official Tasnim news agency, without giving a timeline.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Trump told reporters at the White House late Friday he was still expecting a response “tonight.” Asked if Iran was intentionally slow-rolling the process, he said “we’ll find out soon enough.”
Article content
“We’ll go a different route if everything doesn’t get signed up, buttoned up,” he said. “We may go back to Project Freedom if things don’t happen,” he added, referring to the brief US effort to break Iran’s maritime stranglehold and escort ships through the strait, “but it’ll be Project Freedom Plus, meaning Project Freedom plus other things.”
Article content
The one-page proposal implies Iran’s acceptance would end the 10-week war, which has killed thousands of people across the Middle East and sent energy prices soaring, even though the two sides would still need to negotiate a deal over Iran’s nuclear program.
Article content
Oil edged higher, with investors weighing whether renewed clashes would derail the fragile ceasefire. Global benchmark Brent crude settled around $101 a barrel, but still notched a weekly drop of about 6%.
Article content
Article content
US Vice President JD Vance met with the Qatari prime minister on Friday to discuss bilateral relations and the situation in Iran, as well as regional security and stability, according to a Qatari readout of the meeting. The pair also discussed liquefied natural gas markets, according to a person familiar with the matter.
Article content
The White House and vice president’s office didn’t immediately respond to requests for comment.
Article content
Qatar has served as a regional mediator between the US and Iran. Axios reported earlier on the meeting.
Article content
Trump faces intense domestic and international pressure to end the war, with Americans increasingly opposed to it and frustrated by soaring gasoline prices. China is among the powers amplifying calls for an immediate reopening of the strait and an end to hostilities, ahead of a scheduled summit between President Xi Jinping and Trump in Beijing next week.
Article content
Tensions worsened after clashes in the strait, with US forces executing airstrikes on two empty Iranian oil tankers. They were trying to break the blockade and enter one of the country’s ports, US Central Command said on Friday.
English (US)