Global Economy

Netanyahu Says War Not over as US and Iran Veto Rival Peace Proposals

The Telegraph
The Telegraph•May 11, 2026

Why It Matters

The impasse jeopardizes global oil supplies and forces the U.S. to choose between a costly diplomatic compromise or renewed military escalation, shaping geopolitical risk ahead of Trump’s China visit.

Key Takeaways

  • •Trump rejects Iran's counter‑proposal, keeping ceasefire still fragile.
  • •Iran demands limited enrichment suspension, asset release, and reparations.
  • •Netanyahu warns war isn’t over, suggests possible special‑forces raid.
  • •Global oil markets tumble as Hormuz remains closed.
  • •Experts see Trump stuck with three poor options for resolution.

Summary

The podcast outlines the deadlock between Washington and Tehran after President Donald Trump dismissed Iran’s counter‑offer to a U.S. 14‑point peace plan, leaving the 73‑day war and the fragile Gulf ceasefire unresolved.

The American proposal called for an immediate end to hostilities, a 20‑year freeze on Iran’s enrichment program and the return of highly‑enriched uranium, while Tehran’s reply offered only a short‑term suspension, limited stock‑pile dilution and a suite of political concessions – lifting sanctions, reopening the Strait of Hormuz, reparations and the release of frozen assets. The gap over nuclear commitments remains the core obstacle.

Israeli Prime Minister Benjamin Netanyahu told CBS “the war is not over” and floated a special‑forces operation to extract uranium, echoing Trump’s public vow on Truth Social to take decisive action. Iranian officials framed their offer as “generous and responsible,” and analysts on the show warned that Trump now faces three unattractive paths: a watered‑down deal, continued blockade, or renewed war.

With oil prices spiking and the Strait of Hormuz still blocked, the stalemate threatens a global energy crisis and puts pressure on Trump ahead of his China summit, while Iran appears willing to endure the blockade longer than the world can tolerate, raising the odds of renewed combat.

Original Description

As Donald Trump rejects Iran’s rejection of his peace terms, diplomatic efforts to end the war are back where they started. David Blair explains how this leaves Donald Trump with little choice to restart the war - but with little appetite to do so.
And with time running out before the US president heads to China for a high-stake summit with Xi Jinping. Memphis Barker explains how Xi Jinping could help Donald Trump to end the war, why he is unlikely to be terribly helpful, and why some fear the US might sell out Taiwan in exchange for Chinese help.
Highlights
Netanyahu preparing to reengage militarily
Can Xi Jinping help Donald Trump find an off-ramp from the Iran war?
CONTRIBUTORS:
Roland Oliphant, co-host and chief foreign affairs analyst @RolandOliphant
David Blair, chief foreign affairs commentator, @davidblairdt
Memphis Barker, senior foreign correspondent, @memphisbarker
CONTENT REFERENCED:
‘Double-dealing’ Pakistan plots windfall from Iran peacemaker role
Trump now has three options. They are all bad
Producer: Peter Shevlin
Executive Producers: Venetia Rainey & Louisa Wells
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