US leader rejects return to Iran Strait deal, eyes economic pressureLast updated: August 28, 2026 | 08:224 MIN READU.S. President Donald Trump (2nd-L) and Secretary of War Pete Hegseth (2nd R) and State Secretary Marco Rubio (L) during a Cabinet meeting in the Cabinet Room of the White House. File photo taken on May 27, 2026 in Washington, DC.AFPThe Trump administration has told Qatar, Oman and Pakistan that Washington will not return to the June memorandum of understanding (MOU) with Iran, effectively closing off the framework that regional mediators had hoped could provide a path toward reopening the Strait of Hormuz and restarting broader nuclear negotiations.The June 17 MOU between the US and Iran was built around a trade-off: Iran would facilitate the reopening of the strategic waterway and address nuclear issues, while the United States would provide sanctions relief and facilitate access to frozen Iranian assets. The framework also envisaged a longer-term economic and reconstruction mechanism involving up to $300 billion, although that figure refers to a proposed reconstruction/development fund rather than a straightforward US cash payment to Tehran.Now, Washington appears to be moving in the opposite direction.Trump: Iran is the side asking for talks