Efforts to reach a permanent ceasefire between the United States and Iran have faced a significant setback as US President Donald Trump rejected Iran's latest peace proposal, labeling it 'totally unacceptable.' This rejection comes amid ongoing negotiations aimed at formally ending a conflict that began on February 28 and has severely disrupted global energy markets. Iran's proposal, which emphasizes national sovereignty, includes demands for war reparations, recognition of its sovereignty over the Strait of Hormuz, and the lifting of economic sanctions. The Strait of Hormuz is crucial for global oil shipments, handling nearly one-fifth of the world's crude oil. Although direct military actions have ceased since a temporary ceasefire on April 8, negotiations remain fraught with challenges, particularly concerning Iran's uranium enrichment program and the release of frozen Iranian assets. As tensions rise, some Republican leaders in Washington are advocating for maintaining military options should negotiations falter.