MIAMI: US President Donald Trump on Friday insisted Iran must open up the Strait of Hormuz to oil traffic to make a peace deal.

Repeating his claims that Tehran is ready to make a deal despite its denials, the US leader said that talks were underway to negotiate an end to the month-long conflict.

Trump added that Iran was “on the run” and reiterated assertions that Tehran’s leadership, navy, air force and nuclear program had all suffered significant damage.

“We’re negotiating now, and it would be great if we could do something, but they have to open it up,” Trump told the Saudi Arabia-backed FII Priority investment forum in Miami.

The US president also praised Saudi Crown Prince Mohammed bin Salman as well as other Gulf leaders from the UAE, Qatar, and Bahrain, for their efforts in achieving regional stability.