‘No deal if Hormuz reopens’: Trump extends ceasefire, claims Iran losing $500 million a day

US President Donald Trump has extended the ceasefire with Iran while keeping a blockade in place around the Strait of Hormuz, saying Tehran is suffering major financial losses and must submit a unified proposal before talks can advance.In a post on Truth Social, Trump said Iran was losing significant oil revenue because of the closure of the key shipping route. He wrote: “Iran doesn’t want the Strait of Hormuz closed, they want it open so they can make $500 Million Dollars a day (which is, therefore, what they are losing if it is closed!). They only say they want it closed because I have it totally BLOCKADED (CLOSED!), so they merely want to “save face.” People approached me four days ago, saying, “Sir, Iran wants to open up the Strait, immediately.” But if we do that, there can never be a Deal with Iran, unless we blow up the rest of their Country, their leaders included!”Earlier, Trump announced the ceasefire extension, saying it came after a request from Pakistan’s military chief Asim Munir and Prime Minister Shehbaz Sharif. He said US forces would remain prepared while the blockade continues until Iran’s leadership presents a common negotiating position.Trump wrote: “Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal. I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other.“Iran swiftly rejected the move. Mahdi Mohammadi said Washington had no authority to impose conditions after setbacks in the conflict.He posted on X: “Trump’s extension of the ceasefire means nothing. The losing side cannot set the terms. Continuing the siege is no different from bombing and must be responded to militarily. Meanwhile, Trump’s extension of the ceasefire certainly means buying time for a surprise strike. It is time for Iran to take the initiative.”Pakistan welcomed the extension and portrayed itself as a mediator. Sharif thanked Trump for accepting Islamabad’s request and said he hoped both sides would reach a lasting agreement during a second round of talks scheduled in Islamabad.“I sincerely hope ⁠that both ‌sides will continue to observe ⁠the ceasefire and be able to conclude a comprehensive ‘Peace Deal’ during the second round of talks scheduled at Islamabad for a permanent ‌end to the conflict,” Sharif said in post on ⁠X.The latest extension follows the collapse of an earlier diplomatic push after 21 hours of negotiations in Islamabad failed to produce a breakthrough.