A revised proposal from Iran to end the conflict in the Middle East has been shared with the US, a Pakistani source said on Monday, as peace talks appeared to remain stalled.'We don't have much time,' the source said, when asked if it would take time to close gaps, adding that both countries 'keep changing their goalposts.'It comes as Donald Trump warned over the weekend that the 'clock is ticking' for Iran, adding in a post on Truth Social that Tehran 'better get moving fast, or there won't be anything left of them.'Iranian Foreign Ministry spokesperson Esmaeil Baghaei confirmed that Tehran's views had been 'conveyed to the American side through mediator Pakistan.'Washington and Tehran have been swapping proposals in an effort to end the conflict which broke out on February 28. The two sides have held a single round of talks so far amid a fragile ceasefire in place since April 8.'As we announced yesterday, our concerns were conveyed to the American side,' Baghaei said during a press briefing Monday, adding that exchanges were 'continuing through the Pakistani mediator', without providing details.Baghaei defended Iran's demands including the release of Iranian assets frozen abroad and the lifting of long-standing sanctions. Donald Trump warned over the weekend that the 'clock is ticking' for Iran The issues holding up ​negotiations between the two sides ​include Iran's nuclear ambitions ⁠and its control of the Strait of Hormuz (pictured)'The points raised are Iranian demands that have been firmly defended by the Iranian negotiating team in every round of negotiations,' he said.He also defended an Iranian stipulation that the US pay war reparations, describing the conflict as 'illegal and baseless'.On the possibility of another military confrontation, Baqaei said Iran was 'fully prepared for any eventuality'.'As for their threats, rest assured that we are fully aware of how to respond appropriately to even the smallest mistake from the opposing side,' Baghaei told a televised weekly press conference.On Sunday, Iran's Fars news agency said Washington had presented a five-point list, which included a demand for Iran to keep only one nuclear site in operation and transfer its stockpile of highly enriched uranium to the United States.The US had refused to release 'even 25 percent' of Iran's frozen assets or pay any reparations for war damage, according to Fars.The report said the US had also made clear it would only cease hostilities when Tehran engages in formal peace negotiations.Iran's Mehr news agency said 'the United States, offering no tangible concessions, wants to obtain concessions that it failed to obtain during the war, which will lead to an impasse in the negotiations'.It described the US conditions as 'excessive'.It comes as Trump said last week that a ceasefire with Iran, which was reached in early April, was 'on life support' ​after Tehran's response to a US proposal to end the war made clear the two sides were still far apart on a number of issues.The issues holding up ​negotiations between the two sides ​include Iran's nuclear ambitions ⁠and its control of the Strait of Hormuz, where it has shut down shipping traffic that normally carries one-fifth of the world's oil and liquefied natural gas.Iran has called for an end ‌to the war on all fronts, including Lebanon, where US ally Israel is fighting Iran-backed Hezbollah militants. Tehran has ruled out discussing its nuclear program before the 'permanent end of hostilities.'Tehran also wants compensation for war damage, an end to the US naval blockade, a guarantee of no further attacks, and resumption of Iranian oil sales. Trump said on Truth Social that Tehran 'better get moving fast, or there won't be anything left of them' Baghaei defended Iran's demands including the release of Iranian assets frozen abroad and the lifting of long-standing sanctionsTrump's warning on Sunday sparked fears he may resume strikes on Iran if they do not come to an agreement with the US to end the prolonged conflict. Speaking of Iran's previous proposal last week, Trump dismissed the counteroffer as 'totally unacceptable.''I looked at it, and if I don't like the first sentence I just throw it away,' he told reporters aboard Air Force One on Friday.Meanwhile on Monday, Iran's top security body announced the formation of a new body to manage the Strait of Hormuz, which Tehran has effectively closed and wants to charge ships to traverse.On its official X account, the Supreme National Security Council shared a post for the Persian Gulf Strait Authority (PGSA) saying it would provide 'real time updates on the Hormuz-Strait operations and latest developments.'It was not immediately clear what the new body would do but earlier this month Iranian English-speaking broadcaster Press TV said it constituted a 'system to exercise sovereignty over the Strait of Hormuz' and that ships passing through the strait were sent 'regulations'.Iran has largely blocked shipping through the vital strait since the outbreak of war with the United States and Israel on February 28. Iran's grip over the waterway has rattled global markets and given Tehran significant leverage, while the United States has imposed its own naval blockade on Iranian ports.In peacetime, the route accounts for roughly a fifth of global oil and liquefied natural gas shipments, along with other key commodities including fertiliser.Since the war began, Iran has repeatedly said that maritime traffic through the strait would 'not return to its pre-war status' and last month it said it had received the first revenue from tolls on the waterway.On Saturday, Ebrahim Azizi, head of the Iranian parliament's national security commission, said Iran 'has prepared a professional mechanism to manage traffic' through the strait, adding that it will be 'unveiled soon'.