[Middle East Situation Update: U.S.-Iran Negotiations Focus on Strait of Hormuz and Nuclear Program, Trump Denies Willingness to Ease Sanctions or Release Assets] BlockBeats News, September 29 – According to informed sources, Iranian officials privately hold a pessimistic view about reaching an agreement with Washington before the U.S. midterm elections on November 3. Iranian officials believe that negotiations surrounding the cessation of hostilities and the reopening of the Strait of Hormuz have made little substantive progress, and the likelihood of escalating conflicts after the midterm elections is higher. While Iran remains willing to seek a resolution through diplomatic means, it does not trust the Trump administration to adhere to the terms of any agreement. Similarly, Trump has expressed doubts about the possibility of reaching an agreement before the elections. The core disagreements in the current negotiations center on the Strait of Hormuz and Iran's nuclear program. The U.S. government has informed mediators that Iran must make a firm commitment to reopening the strait and make concessions on its nuclear program. A U.S. official stated that the U.S. will not reach an agreement with Iran until the nuclear issue is resolved. Trump is reportedly willing to offer sanctions relief and release some frozen assets in exchange for concrete progress by Iran on the nuclear issue. However, Trump publicly denied related reports from Axios and other media outlets, stating that he has not proposed conditions for sanctions exemptions or asset unfreezing to Iran and demanded a retraction of the reports. Qatar is continuing to mediate based on a revised version of the seven-day proposal previously put forward by Iran. Semi-official Iranian media outlet ISNA confirmed that Iranian Foreign Minister Araghchi has met with mediators in New York, though U.S. representatives did not attend. Araghchi stated that Iran has communicated the conditions required to reopen the Strait of Hormuz to the U.S. and the international community and has discussed with Qatar a proposal to be submitted to the U.S. Once Qatar receives a response from the U.S., it will relay it to Iran through appropriate channels. Araghchi subsequently returned to Tehran as planned without waiting in New York for a U.S. response. In June of this year, a memorandum of understanding signed between the U.S. and Iran temporarily facilitated a ceasefire and allowed more ships to pass through the Strait of Hormuz. However, the arrangement collapsed in less than two weeks, and the strait's traffic remains significantly below pre-conflict levels. Iran insists that the U.S. must lift the maritime blockade and oil sanctions for negotiations to make progress. As market expectations for a U.S.-Iran agreement cool, Brent crude oil futures rose 2% on Monday to approximately $106.20 per barrel.