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Story summary
- U.S. President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz.
- Iranian diplomat Abbas Araghchi offered to reopen the strait and resume U.S. talks.
- Araghchi said the strait could reopen within seven days if the United States accepts.
- U.S. Secretary of State Marco Rubio warned any Iran deal would require hard work.
- The June US-Iran Memorandum collapsed after renewed fighting despite sanctions relief, frozen assets and ceasefire provisions.