US President Donald Trump has thus far refused an Iranian offer for talks to resume in what Washington branded as an attempt that called for “massive concessions. The proposal was made by Iranian Foreign Minister Abbas Araghchi during the UN General Assembly.

“It is a cynical attempt by them to get the U.S. to lift the naval blockade of their ports, the sanction and the access to billions of dollars in frozen assets as conditions for restarting talks with Iran,” said U.S. Ambassador to the United Nations Mike Waltz. Trump also said the leaders of Iran wanted it because they are losing badly.

Iran has proposed in a seven-day roadmap. Washington would make various moves under the terms of the plan, such as phasing in lifting the naval blockade, relaxing sanctions on Iranian oil sales and unfreezing of Iranian assets. Tehran would, in turn, open up the Strait of Hormuz and return to talks on a wider deal.

One of the hot spots of the controversy is the Strait of Hormuz which plays a vital role in the flow of international energy. If Washington complies with the conditions set in the proposal, then the waterway may be reopened within a week, Iranian officials have said. Iran has said it will open the strait if the U.S. eases military pressure, unfreeze the blockade, Reuters had reported earlier.

But while he had opposed, Trump indicated that talks might be resumed with Iran. He said he did hope for negotiations to be conducted in the upcoming week, though, he still said the terms Tehran put forward didn’t align with his demands.

Iran, however, has said it is ready for more diplomatic moves yet is also readying its armed forces for another round of military action. The latest developments mean the proposed truce, as well as the opening of the Strait of Hormuz, will remain subject to negotiations between Washington and Tehran.