Trump tells Axios the US is 'keeping low tones' with Iran, favouring economic pressure over military strikes as Hormuz talks stall

Trump opts for economic pressure over military action

President Donald Trump told Axios in a brief phone call on Sunday that the United States is "keeping low tones" with Iran, signalling a preference for intensified economic pressure over a new military operation. Just one week earlier, Trump had been close to ordering a return to large-scale military operations against Iran, according to Axios. In the interview, Trump issued no new military threats and expressed neither anger nor frustration over Iran's delay in finalising an agreement with Oman on reopening the Strait of Hormuz.

We're only partially negotiating with them. We're just watching Iran with its huge inflation and the fact that they have no money.

Trump said Iran is in "very bad shape" economically and cannot pay its own troops. He credited the US naval blockade with worsening the Iranian regime's economic crisis, noting that the country lacks the resources to sustain its military. He also pointed to the oil price, which has fallen to just above $75 per barrel, as evidence that American consumers feel less financial pressure from the war. Trump additionally declined to comment on Benjamin Netanyahu's rejection of his Gaza plan.

A solution will be found. It always is. It's like a chess game.

Strait of Hormuz negotiations stall

A deal between Iran, Oman, and the United States to restore commercial shipping through the Strait of Hormuz remains pending. According to Axios, the agreement would establish a new framework for vessel traffic and give Iran partial control of navigation in the Strait, a degree of authority it did not hold before the war. Mediators from Qatar and Pakistan had recently been optimistic that the deal would be announced, but prospects have since weakened.

On Saturday, Mohammad Bagher Zolghadr, head of Iran's Supreme National Security Council, presented a new list of demands for allowing ships to pass through the Strait. A US official told Axios that the American military coordinates the export of 8 million barrels of oil every night via the southern route of the Strait, which follows Oman's coast. The official added that when Iran is not at war, it is forced to face a grim reality without real solutions at its disposal, and that as long as the US continues striking Iran, the country can avoid confronting the economic consequences.

Iran's internal divide

US officials told Axios that Iran is split into two camps. One, led by President Masoud Pezeshkian, fears economic catastrophe if no deal is signed with the United States. The other, led by Revolutionary Guards commander Ahmad Vahidi, maintains a hardline stance rejecting any concessions. Pezeshkian had stated earlier this week that communication with the supreme leader, who has the final say on major state policies, was "very difficult at this time."

Mojtaba Khamenei resurfaces

A rare meeting between Supreme Leader Mojtaba Khamenei and President Pezeshkian took place at the end of July, at the start of the third year of Pezeshkian's presidency, according to the supreme leader's office. The two examined in detail the problems and challenges of the country, focusing on the current military situation and future prospects, as well as economic relations with foreign partners.

Khamenei has not appeared publicly since taking office in March. He was injured in late February on the first day of the Israeli-American attack on Tehran, in which his father and predecessor, Ali Khamenei, was killed. Khamenei makes statements only through announcements attributed to him. In early May, Pezeshkian said he had met Khamenei on an unspecified date, but the supreme leader's office had made no comment at the time.