Trump rejects Iran's counteroffer to end war, insists on 'complete victory'

President Donald Trump dismissed Iran’s latest counteroffer to end the ongoing Middle East conflict, labeling it 'TOTALLY UNACCEPTABLE' and declaring that the US would seek 'complete victory' over Iran. Speaking to reporters on Monday, Trump described the ceasefire, which has held for over a month, as on 'massive life support' with only a 'one per cent chance of living.' His remarks sent oil prices surging and deepened concerns about the stability of the Strait of Hormuz, a critical shipping route for global oil and gas supplies. Iran’s counteroffer, a response to a US proposal, included demands to lift the US naval blockade on its ports and the release of frozen Iranian assets held abroad. Tehran’s foreign ministry spokesman, Esmaeil Baqaei, emphasized that the demands were not concessions but the restoration of Iran’s 'legitimate rights.' The proposal also reportedly suggested diluting some highly enriched uranium and transferring it to a third country, with guarantees for its return if negotiations failed. The conflict’s escalation has triggered severe disruptions in global energy markets, with Saudi Aramco CEO Amin Nasser warning of the 'largest energy supply shock' in history. He noted that even if the Strait of Hormuz reopened immediately, market stabilization could take months, potentially extending into 2027. Beyond energy, the war has also disrupted fertilizer shipments, risking a 'massive humanitarian crisis' that could push 45 million more people into hunger, according to the United Nations Office for Project Services (UNOPS). Israeli Prime Minister Benjamin Netanyahu rejected any prospect of ending the conflict without dismantling Iran’s nuclear facilities. In an interview with *CBS*’s *60 Minutes*, Netanyahu stated that the war would not conclude until Iran’s enriched uranium was removed and its enrichment sites dismantled. His stance underscores the deep divisions between Tehran and Washington, which accuse Iran of pursuing atomic weapons—a claim Iran denies. The stalemate has left global markets on edge, with fears of prolonged blockades and economic fallout. While Iran insists its demands are non-negotiable, Trump’s refusal to engage further threatens to prolong the crisis, leaving the fate of the ceasefire and the region’s stability uncertain.