Iran's Foreign Minister Says Open to Giving Diplomacy a Chance, Trump Defends Military Action

Iran's Foreign Minister Abbas Araghchi signaled on Wednesday that Tehran remains open to negotiations, while President Donald Trump defended U.S. military action.

Iran Says Diplomacy Could Yield a Deal Within Days

Araghchi said Tehran remains in contact with intermediaries to explore ways to implement its seven-day plan more quickly.

"Despite our brave armed forces being fully prepared to defend the homeland, Iran continues to give diplomacy a chance to succeed," he wrote on X.

Despite our brave armed forces being fully prepared to defend the homeland, Iran continues to give diplomacy a chance to succeed.

We remain in close and continuous contact with intermediaries to deliberate on ideas that could ensure the implementation of our seven-day plan in less than a week.

— Seyyed Abbas Araghchi, October 28, 2026

The proposal was initially discussed while the Iranian delegation was in New York for the UN General Assembly and has resurfaced amid regional diplomatic efforts, including Qatari involvement.

A security source told Al Jazeera that the plan is not fundamentally new. The source said Iran's main concern is whether its seven demands and conditions will be met, rather than how long an interim agreement would take.

Iran Warns of Oil Market Risks

Earlier in the day, Araghchi also warned that another Israeli-led military operation could disrupt global energy markets, citing concerns raised during the Gas Exporting Countries Forum summit in Moscow.

Iran's energy diplomacy made progress at the Gas Exporting Countries Forum summit. Discussions focused on global gas markets and energy security.

The disruptive impact on international markets of any military adventure in the Persian Gulf region instigated by Israel remains a major concern for both gas suppliers and consumers.

— Seyyed Abbas Araghchi, October 28, 2026

Oil prices fell late Wednesday, with West Texas Intermediate crude down 1.38% to $101.36 per barrel and Brent crude down 0.95% to $114.22 per barrel.

Trump Defends War on Iran as Reports of New Strikes Emerge

At a campaign rally in Chillicothe, Ohio, ahead of the November 3 midterm elections, Trump reportedly said Iran's missile stockpiles have been significantly reduced and that its drone manufacturers are struggling because they "can no longer get electricity."

He also defended the military action, saying "we didn't start this war" and arguing it "should have been settled long before I got here."

The U.S. and Israel launched strikes on Iran on February 28.

Meanwhile, The Wall Street Journal reported that the U.S. has urged several Gulf Arab states to prepare for a short but intense military operation after the midterm elections.

The Associated Press reported similar warnings, but diplomats told the outlet that Trump has not made a final decision on whether to launch further strikes on Iran.

Qatar's Iran Peace Proposal Faces Resistance

Reuters reported that Qatari mediators have submitted a new draft agreement to Tehran aimed at ending the war. A senior Iranian official reportedly rejected the proposal, calling it "an unacceptable idea, not a proposal."

As a damaged tanker in the Strait of Hormuz leaked oil, reaching beaches in Ras Al Khaimah and forcing closures, the UAE called for de-escalation and diplomatic efforts.