Iran defies US as Trump rejects peace proposal

Iran has remained defiant in the face of US diplomatic and military pressure, even as US President Donald Trump appeared to reject its latest proposal to end the war. Iran has called its latest offer both generous and responsible as it focused on the reopening of the Strait of Hormuz while deferring negotiations on its nuclear programme for a later stage. The continued stand-off continues to stress the global economy with the price of brent crude oil again rising above 100 dollars a barrel after somewhat of a retreat last week on the hopes of a breakthrough in the Pakistani-mediated negotiations that Trump has since described as being on "life-support".

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