[56286] Escalation in the crisis: Trump rejected Iran's proposal to end the fighting, oil prices soar
The tension is at its peak: The US rejects Iran's proposal and the oil crisis worsens
In a series of stern statements on Monday, May 11, 2026, US President Donald Trump rejected Iran's proposal to end the fighting, as reported by Vahid Online. Trump called the proposal "ridiculous" and "completely unacceptable," stating that he does not intend to ease the pressure applied on Tehran. In response, Iranian Foreign Ministry spokesman Esmail Baghaei claimed that his country's proposal was "reasonable and generous" and intended to bring an immediate end to the war on all fronts, including Lebanon, while demanding the lifting of sanctions and the release of frozen assets (Vahid Online report).
US sources, as published by Iran International, indicate that the main dispute remains over the stockpiles of enriched uranium held by Iran. While Iran insists on its sovereignty in the Strait of Hormuz, Trump hinted at a reconsideration of "Project Freedom" – a US military operation to open shipping lanes in the strait, a step that could lead to further military escalation (Vahid Online report).
Against the backdrop of developments, energy exchanges reacted nervously; oil prices rose by over 3.5% (Iran International report). Experts point out that the economic effects of the fighting are worsening, as businesses in Iran suffer from collapse due to internet outages and sanctions, and at the same time, central banks around the world are expressing concern about the impact of energy prices on global inflation (Iran International report).
Simultaneously, in the diplomatic and military arena, Britain and France are organizing an emergency meeting of over 40 countries to discuss a naval mission to protect shipping in the Strait of Hormuz (Iran International report). Tehran responded with a sharp warning: Iranian Deputy Foreign Minister Kazem Gharibabadi threatened that any foreign military presence in the strait would be considered an escalation and would be met with a "decisive and immediate" military response (News1Fori report).
Meanwhile, Israeli Prime Minister Benjamin Netanyahu stated in an interview with CBS that "there is still much work" in dismantling Iran's nuclear infrastructure (DW Persian report). Netanyahu admitted that the political leadership did not anticipate that Iran would block the Strait of Hormuz and clarified that Israel would not agree to a ceasefire that leaves Hezbollah as a central player in Lebanon (Khabari report).