Iran awaits US move after WSJ report says Trump rejects peace plan

Iran on Saturday awaited an official US response to its proposal to reopen the Strait of Hormuz and end fighting in the wider Middle East war after the Wall Street Journal ​reported that US President Donald Trump had rejected the deal.

Iran raised the diplomatic initiative at the United Nations General Assembly in New York, saying it had been ‌transmitted to the Americans via Qatari mediators and could reopen the strategic waterway and put an end to hostilities in the region within seven days.

The Iranians also engaged their Saudi rivals regarding the strait, underscoring the stakes of a seven-month-old conflict that has disrupted oil flows through one of the world's most critical shipping lanes and taken a toll on the global economy.

Iranian Foreign Minister Abbas Araqchi told reporters at the United Nations on Friday the deal ​would trigger a seven-day countdown to reopening the strait and a pause in regional fighting.

"If there is seriousness on the US side to come to a deal and reopen ​the Strait of Hormuz, everything is now prepared," Araqchi said.

If the US were to agree, the warring parties could start wider talks "on mutually agreed subjects," ⁠Araqchi said.