A ceasefire in the US-Israeli war with Iran has so far held, but its economic shockwaves continue to reverberate globally.
Iran has sealed off the strait, cutting flows of oil, gas and fertiliser and sending prices soaring, raising fears of food insecurity in developing countries.
Hopes for talks had centred on a planned visit by Witkoff and Kushner, but Trump cancelled the trip, dismissing it as “sitting around talking about nothing”.
On Sunday, Trump told US media that if Iran wanted the talks, “they can come to us, or they can call us, you know, there is a telephone, we have nice secure lines.”
Asked whether cancelling signalled renewed fighting, Trump said: “No, it doesn’t mean that.”
Scepticism over diplomacy
Amid the flurry of meetings, Araghchi said he had “yet to see if the US is truly serious about diplomacy”.
Pressure to end the war has intensified as the Strait of Hormuz remains closed. Iran’s Revolutionary Guards said they had no intention of lifting their blockade, which has roiled energy markets.
“Controlling the Strait of Hormuz and maintaining the shadow of its deterrent effects over America and the White House’s supporters in the region is the definitive strategy of Islamic Iran,” the Guards said on their official Telegram channel.
The United States has imposed a blockade of Iranian ports in retaliation.
In a statement carried by state media, Iran’s military warned that continued US “blockading, banditry and piracy” would draw a response.
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