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Iran's Peace Offer Rejected by Trump, Deadlock Persists

By Channel News Asia · 2026-05-11
Iran's Peace Offer Rejected by Trump, Deadlock Persists

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Why it matters: The diplomatic deadlock keeps the Strait of Hormuz partially closed, preserving a bottleneck that handles about 20% of global oil and LNG, sustaining high commodity prices while the US faces a $20 billion legal battle and loses leverage in the region.

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