Ceasefire on 'life support', Trump says, as he rejects 'stupid' Iranian peace offer

“Ceasefire on 'life support', Trump says, as he rejects 'stupid' Iranian peace offer Submitted by Yasmine El-Sabawi on Mon, 05/11/2026 - 20:40 This comes as the US Treasury imposes a new round of sanctions to ramp up pressure US President Donald Trump speaks to reporters in the Oval Office at the White House in Washington, DC, on 11 May 2026 (Evelyn Hockstein/Reuters) Off US President Donald Trump pushed back against what he called a "stupid" and "garbage" peace proposal from Iran on Monday, and told reporters at the White House that the ceasefire in place since early last month is on "life support". Yet his administration could still secure an agreement despite repeated setbacks, he added. "I think it’s very possible. I’ve had a deal with them four or five times; they change their mind," he said, describing Iran’s leadership as "very dishonourable". Iran's IRNA news agency had reported earlier that the proposal submitted on 10 May included a demand for compensation, given the destruction from the 40-day US-Israeli war on the Islamic Republic, as well as recognition of Iranian sovereignty over the Strait of Hormuz. Not long after Trump's remarks, the US Treasury announced new sanctions on 12 individuals and companies that it says have "enabled" the shipping of Iranian oil to China. "As Iran’s military desperately tries to regroup, [Operation] Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions," Treasury Secretary Scott Bessent said in a statement. "Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy." Among the entities sanctioned are the Hong Kong-based Blue Ocean Limited and Sanmu Limited, as well as the Dubai-based Ocean Allianz Shipping, Blanca Goods Wholesaler, and Universal Fortune Trading. Sharjah's Atic Energy FZE and Oman's Zeus Logistics Group are also on the list. 'American taxpayers will pay for it' Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, warned on Monday that his country’s forces stand ready to respond to any attack from the US, should the war resume. He added, however, that there is "no alternative but to accept the rights of the Iranian people as laid out in the 14-point proposal". War on Iran: Senior royal says Saudi Arabia avoided Israeli plan to 'plunge region into ruin' Read More » "Any other approach will be completely inconclusive; nothing but one failure after another," Ghalibaf wrote on X. "The longer [the Americans] drag their feet, the more American taxpayers will pay for it." In what may be a bid to calm concerns that his rejection of Iran's proposal could mean a return to open hostilities and another surge in energy prices, the US president suggested to CBS News on Monday that he would like to eliminate the federal tax on petrol to give Americans some breathing room. That tax is $0.18 per gallon, or 3.7 litres. The average price of petrol on Monday was $4.55 per gallon, but coastal and urban areas such as New York City, Washington, and Los Angeles had significantly higher prices. The US-Israeli war on Iran, which began on 28 February, had tanked Trump's approval ratings to the lowest of his term, at 34 percent in late April. A Reuters-Ipsos poll released on Monday found that figure inched up to 36 percent. Two-thirds of Americans surveyed said they did not think Trump explained to the public why he launched a war in the first place, and a similar number added that their personal finances have taken a hit because of that decision. War on Iran Washington News Post Date Override 0 Update Date Mon, 05/04/2020 - 21:19 Update Date Override 0

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