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The Economic Times

Top News / The Economic Times

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Peace deal hopes fade after Trump rejects 'garbage' Iran proposal

Hopes for an Iran peace deal have dimmed as President Trump stated a ceasefire is on life support following Tehran's rejection of a U.S. proposal. Iran presented a list of demands, including an end to the war on all fronts and compensation, which Trump dismissed. The Strait of Hormuz remains largely closed, impacting global oil shipments and driving up prices.

12 May 2026 9:11 am