Trump Rejects Iran Deal, Extends Hormuz Blockade
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- Trump warned Tehran to "get smart soon" and rejected Iran's latest proposal to reopen the Strait of Hormuz, as reported on April 29, 2026.
- U.S. naval blockade could be extended for months, with steps discussed with oil executives to minimize impact on American consumers.
- Brent crude for June delivery rose 5.16% to $117 per barrel after the blockade extension news.
- UNDP warned that the war could push over 30 million people into poverty across 160 countries, calling it "development in reverse."
- Iranian rial fell to historic lows against the dollar on April 29, prompting despair among Tehran residents in Paris.
- Amir Akraminia said Tehran does not consider the war over, has unused cards and new fighting tools, and lacks trust in America.
- Qatar warned of a possible "frozen conflict" if a definitive resolution to the war is not reached.
Why it matters: The blockade extension pushes global oil prices higher, inflating fuel costs for consumers and tightening economic pressure on the United States, while Iran's rial collapses and millions face deeper poverty, amplifying the war’s humanitarian toll and limiting diplomatic leverage for both sides.
