Trump rejects Iran ceasefire, expects to resume bombing after midterms

Trump rejected Iran's offer of a seven-day ceasefire and expects to resume bombing Iran after the November midterm elections. US officials told The Wall Street Journal that Trump expects the bombing to resume after the vote. Iranian Foreign Minister Abbas Araghchi unveiled the plan at the United Nations General Assembly on Thursday. Qatar carried the plan to Washington. The plan would stop fighting on every front, including Lebanon. The United States would lift its naval blockade of Iranian ports and ease oil sanctions under the plan. Iran would receive some frozen assets. Iran would reopen the Strait of Hormuz after seven days. Nuclear talks would then restart. Trump doubts Iran will meet his demands, according to officials who spoke to The Wall Street Journal. The United States told Iran that the blockade would remain. The Wall Street Journal reported that the blockade is causing deep damage to Iran's economy. The plan closely mirrors a June 17 deal that briefly stopped the fighting before collapsing. Trump said at the United Nations that the election would not influence his Iran policy. Trump accused Iran of delaying talks to see how he performs at the polls. Trump said he must choose between a deal and a quick move to annihilate the Islamic Republic. In private, officials said Trump views a new bombing campaign after the vote as likely. Trump has publicly said Tehran is seeking a deal after the midterms that would dismantle its nuclear program. Trump's view could change as the war continues and after the results are announced. The vote is scheduled for November 3. The article says the vote is 38 days away. Brent crude rose more than 3% to $76.48 a barrel when US strikes resumed on July 8. Brent closed Friday at $104.32, according to Trading Economics. That price was about 36% above its level on the day strikes resumed in July. Brent traded at $101.86 at press time. Brent contracts fell 1.15% during Friday's session to $95.95. Bitcoin briefly fell below $84,000 after the news. Bitcoin fell from above $87,000 on Wednesday to about $83,250 on Thursday. Bitcoin has remained just above that low. Bitcoin rose past $81,000 when Trump considered ending the war. Iran said Friday that it was still waiting for a formal US answer. Talks through regional mediators have not ended. The midterms are five weeks away.