Iran Receives U.S. Reply to Peace Proposal Amid Record Low Rial

Iranian Foreign Minister Abbas Araghchi presented a United States response to President Masoud Pezeshkian during a cabinet meeting, according to government spokesperson Fatemeh Mohajerani. Pezeshkian said the government would "make every effort to bring the agreement to fruition and will firmly stand up for the rights of the Iranian people," adding that the deal must be based on a "win-win strategy."

Araghchi returned from New York, where he attended the U.N. General Assembly and held indirect talks with U.S. officials and mediators from Qatar and Pakistan. He briefed the cabinet on conditions he said were offered for reopening the Strait of Hormuz, including the lifting of the U.S. blockade of Iranian ports, the release of frozen Iranian assets and a waiver of sanctions on Iranian oil sales.

The United States has not disclosed the content of its reply, and officials did not confirm whether it constituted an acceptance or a rejection. Despite public statements from the Trump administration rejecting the proposal, unnamed mediators said they continue to work toward a possible agreement.

On Tuesday, the U.S. Treasury Department announced new sanctions targeting individuals and entities in Iran, Hong Kong and Pakistan alleged to facilitate Iran's military supply chain. The measures are part of an effort the administration describes as "Operation Economic Outcast," aimed at cutting financial links to the Iranian government.

Iran's currency continued to fall, reaching a new record of more than 2.5 million rials per U.S. dollar, a further decline from the previous low recorded in early September. The depreciation reflects the ongoing impact of the conflict that began in February.

Separately, Iranian state media reported the execution of two men convicted of involvement in January protests in Mashhad that resulted in the deaths of four security personnel. Their sentences were upheld by the Supreme Court before being carried out.