Iran has received a ‘pittance’ of under $1.3 million from Hormuz tolls, Bessent says, as its currency plummets to a new record low

(SeaPRwire) –   Per Iran’s state-affiliated media, Iran’s newest proposal to the United States calls for all issues between the two nations to be resolved within 30 days and aims to end the ongoing war rather than extend the existing ceasefire.

President Donald Trump said Saturday he was reviewing the new Iranian proposal but expressed doubt it would result in a final deal, adding on social media that “they have not yet paid a big enough price for what they have done to Humanity, and the World, over the last 47 years” since the Islamic Revolution in Iran.

Iran’s 14-point proposal, a counter to the U.S.’s nine-point plan, also demands the U.S. lift sanctions on Iran, end its naval blockade of Iranian ports, withdraw all military forces from the region, and stop all hostilities — including Israel’s military operations in Lebanon, according to semi-official outlets Nour News and Tasnim, which hold close ties to Iran’s security organizations.

However, those reports made no mention of Iran’s nuclear program and its enriched uranium, which has long been the core issue driving tensions with the U.S. and a topic Tehran prefers to address at a later date.

Iran sent its official response via Pakistan, the same country that hosted face-to-face negotiations between Iran and the United States last month.

Two anonymous Pakistani officials, who were not authorized to speak publicly to media, said Pakistan’s prime minister, foreign minister and army chief continue to push forward with negotiations and encourage the U.S. and Iran to hold direct talks.

The fragile three-week ceasefire currently appears to be holding, though Trump told journalists Saturday that additional military strikes against Iran remain a possibility.

Also on Sunday, Iranian Foreign Minister Abbas Araghchi held talks with Oman’s Foreign Minister Badr al-Busaidi, who oversaw earlier rounds of negotiations between the U.S. and Iran before the start of the war.

Iran stands firm on Strait of Hormuz

Trump has put forward a plan to reopen the Strait of Hormuz at the mouth of the Persian Gulf, a waterway that typically carries around a fifth of the world’s global oil and natural gas trade, along with critically needed fertilizer for farmers across the globe.

Iran’s control over the strait, implemented after the U.S. and Israel launched the war on Feb. 28, has roiled global markets.

Iran’s deputy parliament speaker said Sunday that Tehran “will not back down from our position on the Strait of Hormuz, and it will not return to its prewar conditions.” Ali Nikzad, who has no decision-making power in Iran’s parliament, made the statement during a visit to port facilities on strategically important Larak Island.

Nikzad reaffirmed Iran’s stance that any ship not linked to the U.S. or Israel can pass through the strait after paying a toll. Tehran effectively closed the waterway by attacking and threatening passing commercial ships.

The U.S. has warned shipping companies they could face sanctions for paying Iran in any form, including digital assets, to secure safe passage. Meanwhile, the U.S. naval blockade launched April 13 is cutting off Tehran from the oil revenue it needs to stabilize its struggling economy.

“We think that they’ve gotten less than $1.3 million in tolls, which is a pittance compared to their previous daily oil revenues,” U.S. Treasury Secretary Scott Bessent told Fox News Sunday. He added that Iran’s oil storage facilities are filling rapidly and “they’re going to have to start shutting in wells, which we think could happen in the next week.”

Iran’s currency continues to tumble

On Sunday, the second day of Iran’s work week, the Iranian rial weakened further against the U.S. dollar. At Ferdowsi Street in Tehran, the capital’s main currency exchange hub, one dollar traded at 1,840,000 rials.

Analysts say there is a strong chance the currency will drop even lower in value.

The rial traded at 1.3 million to the dollar back in December, a record low at the time that sparked widespread protests over worsening economic conditions. Markets in Tehran remain unstable, with the price of some goods increasing daily.

According to Iranian media reports, multiple factories have not renewed worker contracts following the Iranian new year in March, and large numbers of workers have lost their jobs.

Yousef Pezeshkian, the son and adviser of Iranian President Masoud Pezeshkian, wrote on Telegram that both the United States and Iran view themselves as the winner of the war and are unwilling to back down from their positions.

Nobel committee urges treatment for Iranian laureate

The Norwegian Nobel Committee urged Iran Saturday to immediately transfer imprisoned Nobel Peace Prize laureate Narges Mohammadi to receive care from her own medical team in Tehran after her health deteriorated sharply.

The committee said it is in contact with Mohammadi’s family and lawyer, and that the 2023 laureate’s life remains at risk.

The human rights lawyer fainted twice in prison Friday in the northwestern city of Zanjan, her foundation confirmed, and was admitted to a local hospital. Her lawyers have said she is believed to have suffered a heart attack in late March.