President Donald Trump has denied reports that the United States offered Iran sanctions relief and access to frozen Iranian funds in exchange for concrete steps on its nuclear program. Trump rejected the reports on Monday, writing on Truth Social that claims he had offered Tehran economic concessions were “untrue” and that he had offered Iran “nothing.” The denial followed reports by Axios and CNN citing unidentified U.S. officials who said Washington was open to such measures as part of a potential agreement.

The conflicting accounts come as U.S. and Iranian officials continue separate discussions through mediators in an effort to end the seven-month conflict. Iranian President Masoud Pezeshkian said Tehran was prepared to negotiate over its nuclear program and other issues but would not accept what he described as pressure or coercion. Iran says it does not seek nuclear weapons while maintaining that it has a right to civilian nuclear energy.

Iranian Foreign Minister Abbas Araqchi has said Tehran’s conditions for reopening the Strait of Hormuz are tied to broader diplomatic arrangements. Iranian officials have proposed a framework involving the reopening of the strategic waterway and a pause in regional fighting, while Trump has rejected the latest proposal as unacceptable. Mediators are continuing efforts to clarify the positions of both sides and bring them back to indirect negotiations.

The dispute has also affected global energy markets. The conflict and disruptions around the Strait of Hormuz have created concerns about oil supplies, with crude prices rising after Trump rejected Iran’s latest proposal. Brent crude briefly moved above $107 per barrel on Monday before giving back some of its gains, while U.S. West Texas Intermediate also climbed. The Strait of Hormuz remains a major global energy transit route, making developments around the waterway closely watched by oil markets.

The latest developments leave the diplomatic process uncertain, with Washington emphasizing Iran’s nuclear activities and Tehran focusing on the lifting of sanctions, the status of frozen assets and the reopening of the Strait of Hormuz. Trump has said additional discussions with Iran are expected, while Iranian officials say they are awaiting a formal U.S. response through mediators. The two sides remain publicly divided over the terms of any potential agreement, even as diplomatic contacts continue.