Qatari mediators are expected to hold separate talks with the US and Iran on Monday or Tuesday over an amended version of the seven-day proposal Iran presented on the sidelines of the UN General Assembly, Reuters reported. Under the original plan, the US would take agreed steps within four or five days, the Strait of Hormuz would reopen on day six and talks on a final deal would begin on day seven. The proposal sought a halt to regional hostilities, the release of at least $12 billion in frozen Iranian assets, the lifting of sanctions on Iranian oil and an end to the US naval blockade.
President Donald Trump rejected the plan on Saturday. 'They made a proposal, but I rejected it,' he said, adding that Iran wants to open the strait immediately 'because they're losing so badly.' Brent crude rose more than 3% to top $107 a barrel after the rejection, and Iran says it will not soften its conditions.