Iran Rejects Trump Peace Demands as Hormuz Tensions Hit Oil Markets

President Donald Trump said Monday he is under “no pressure whatsoever” to make a deal with Iran after the regime said it has no plans to attend peace talks in Pakistan with his top three negotiators, including Vice President JD Vance.

The standoff over the Strait of Hormuz intensified over the weekend as U.S. Forces fired on and then seized an Iranian vessel, and with Tehran refusing to accept diplomacy amid the ongoing blockade of its ports and exports.

With no clear path to a diplomatic resolution of the seven-week war and the U.S.-Iran ceasefire set to expire this week, uncertainty over when the strait might reopen is pushing global oil prices back up and weighing on U.S. Stocks.

Trump warned Iran will “see problems like they’ve never seen before” if they don’t negotiate, speaking on the John Fredericks radio show.

He also reiterated that he believes the Iran war is “very close to being over.”

Trump said his Vice President JD Vance, senior envoy Steve Witkoff and son-in-law Jared Kushner will travel to Pakistan for another possible round of U.S.-Iran peace talks, as a two-week ceasefire between the two countries is set to expire this week.

It is not clear whether Iran plans to send a delegation to Islamabad.