Iranian Foreign Minister Abbas Araghchi is meeting Qatari mediators in New York on Monday to review the latest proposals, with no US representatives present, Iran's ISNA news agency reported. Qatari mediators are expected to hold separate talks with the US side on Monday or Tuesday over an amended version of the seven-day plan Iran presented on the sidelines of the UN General Assembly, sources briefed on the negotiations told Reuters. Under the original plan, the US would take agreed steps within four or five days, the Strait of Hormuz would reopen on day six and talks on a final deal would begin on day seven.

The mediation continues despite President Donald Trump's rejection of the original proposal on Saturday. "They made a proposal, but I rejected it," Trump told reporters, saying Iran wants to open the strait immediately "because they're losing so badly" and claiming the US has "total control" of the waterway. The Wall Street Journal reported that Trump has told aides he expects to resume bombing Iran after the November midterm elections, while remaining skeptical that Tehran will meet his demands.

Araghchi said Iran is prepared for either outcome. "We are fully prepared for the war to be resumed. I repeat, we stand firm in the face of any new aggression, even if it comes to a doomsday war," he told NBC's Meet the Press, adding that Iran also stands ready for diplomacy and that "it is up to President Trump to choose." Oil surged on the failed truce, with Brent crude rising more than 3% to top $107 a barrel, and the 10-year Treasury yield climbed 7 basis points to 5.23%, its highest level since 2007.