Before reviewing the proposal on Saturday, US President Donald Trump said he could not imagine it "would be acceptable".

Iran proposes new peace talks with the U.S. through Pakistan amid ongoing tensions and high oil prices, state media reports.

Trump said he was not satisfied with the latest Iranian proposal. Iran's foreign minister said Tehran was ready for diplomacy if U.S. changes its approach.

The president also has floated a new plan to reopen the Hormuz, after the US warned shipping firms against paying Iran for safe passage.

Before reviewing the proposal on Saturday, US President Donald Trump said he could not imagine it "would be acceptable".

Iran said that it is reviewing the U.S. response to its most recent peace proposal, a 14-point plan that was reviewed by President Donald Trump.