ToplineIran’s Supreme Leader Ayatollah Mojtaba Khamenei vowed Thursday not to give up the country’s “nuclear and missile capabilities” in a rare statement Thursday—making clear Iran rejects the U.S.’s key demand to end the war. People participate in a rally in Tehran, Iran, April 29, 2026. (Photo by Shadati/Xinhua via Getty Images)Xinhua News Agency via Getty ImagesKey FactsAn anchor on Iranian TV read the statement from Khamenei, who has not appeared or spoken in public since he took over for his father, who was killed in the initial wave of U.S. strikes in February.Khamenei said Iran would maintain ownership of “all national assets,” including “nuclear and missile technologies,” according to an English translation of his statement published in Iranian state media.Khamenei vowed Iran would “end the hostile misuse” of the Strait of Hormuz and Persian Gulf region and criticized U.S. military action in the key waterway as a “humiliating failure.”Khamenei has not appeared or spoken in public since he took over for his father, who was killed in the initial wave of U.S. strikes in February.Giving up its nuclear weapons and allowing free passage through the Strait of Hormuz are key provisions for the U.S. in agreeing to permanently end the conflict. Meanwhile, President Donald Trump has vowed to maintain its naval blockade of vessels coming to and from Iran, telling Axios on Wednesday the maneuver is “somewhat more effective than the bombing” and is “choking” Iran’s economy.Shortly after Khamenei released his statement, the White House tweeted a previous quote from Trump that said “there will never be a deal unless [Iran] agrees that there will be no nuclear weapons.”What To Watch ForThe Pentagon has prepared plans for new strikes against Iran in an effort to force Iran back to the negotiating table, Axios reported Wednesday, citing two unnamed sources. One of the plans reportedly involves the U.S. taking control over part of the Strait of Hormuz and reopening it to commercial shipping traffic—an operation that could involve ground troops. Trump is expected to receive a briefing on the plan Thursday. He would not comment on any potential military action when he spoke to Axios Wednesday.TangentGlobal oil prices have skyrocketed since the start of the Iran war, reaching a four-year high of more than $120 a barrel on Thursday. U.S. gas prices also increased 27 cents in the past week, to $4.30 a gallon.Key BackgroundThe dispute over the Strait of Hormuz has brought negotiations between Iran and the U.S. to a standstill, though the ceasefire between the two countries that took effect on April 30 remains in place. Iran reportedly presented the U.S. with a new plan to reopen the strait on Sunday, contingent on delaying nuclear talks, The New York Times reported, citing three unnamed Iranian officials. The plan would allow Iran to continue tolling ships for passage through the strait. The U.S. hasn’t publicly responded, but officials have repeatedly said Iran must agree to give up its stockpile of enriched uranium and agree to end its nuclear program as part of a deal for a lasting ceasefire.Further ReadingIran Mocks Trump Administration As Oil Hits Highest Level Since 2022 (Forbes)Trump Threatens Iran With Gun-Toting AI Meme As Hormuz Remains Blockaded (Forbes)Trump Cancels Kushner And Witkoff’s Trip To Pakistan For Iran Peace Talks (Forbes)