Iran war news LIVE: Trump confirms he rejected Tehran's seven-day ceasefire proposal, says 'they're losing so badly'

US President Donald Trump announced on Saturday that he rejected Iran's seven-day ceasefire proposal to reopen the Strait of Hormuz. The President claimed that Iran was "losing so badly" and wanted to make a deal where they would immediately open the strait. He added, "They made a proposal, but I rejected it."

Iran's Foreign Minister, Abbas Araqchi, responded on Sunday, insisting that only diplomacy can resolve the conflict with the United States and Israel. He stated, "Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met," adding, "Only a negotiated solution can get them out of this deadlock."

US Treasury Secretary Scott Bessent announced that he had sent envoys around the world to pressure countries economically isolate Iran. He lauded the new restrictions targeting Tehran's airlines and banks, noting, "At my direction, teams were dispatched across the globe to engage with countries and demand action against the Iranian regime." Bessent mentioned that Turkiye and Oman had stopped incoming flights from Mahan Air, while the UAE had halted all flights by Iranian airlines.