Iran is waiting to see how I do in mid-term election: Trump

US President Donald Trump on Tuesday called for complete economic isolation of Iran, showing no intention to resume talks at the UN General Assembly but saying he believed a deal would be done after the US mid-term elections in November.

A senior Iranian official said Iran could reopen the Strait of Hormuz to Gulf shipping within seven days if the US fulfilled Tehran's demands to ease military pressure and lift an American blockade on Iranian ports, adding that Tehran had conveyed its latest proposal to Washington last week.

Secretary of State Marco Rubio told NBC's "Today" show the US was open to speaking with the Iranians, "especially if it has the prospects of leading to something positive and ultimately achieving the goal of what this is all about".


But in a combative speech to the UN, Trump gave no sign of readiness to compromise.

Read more - Oil slips below $100 but remains volatile as Trump’s UN remarks dampen optimism over Saudi Arabia resuming Yanbu operations and East-West pipeline restart

"I call on all nations to help to enforce the complete economic isolation of Iran," he said.

"I believe we'll make a deal right after the election because it doesn't make sense for them not to. They're waiting to see how I do in the midterm election."

In a reminder of Iran's firm position so far, Parliament Speaker Mohammad Baqer Qalibaf, who headed Iran's negotiating team at previous talks, said Iran would never surrender: "Trump must understand that he cannot impose his power on the Iranian people and its armed forces."

There was some relief on oil markets on Tuesday, after sources told Reuters that Saudi Arabia had restarted operations at its East-West Pipeline and could resume exports within hours, albeit at reduced volume, from the Red Sea port of Yanbu.

Trump used his speech to argue that the war with Iran prevented Tehran from obtaining a nuclear weapon. "I have a big decision to make. Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before?" Trump said. "Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people and countries again?"

Trump added: "Do I drive them into hell with no chance of survival and no hope of future greatness or generations? But I believe we'll make a deal right after the election."

'Cuba, a failed state'

Trump said Cuba was a failed state and freedom would be coming to the Communist-run island in an UN address Tuesday that touted greater US involvement in the region.

"My administration is also seeking a fundamental change in the situation in Cuba, where the communist regime is under great pressure-the biggest pressure they've ever been under. It's an absolutely failed State, it's failing like never before, and it will fall," Trump said.

"Communism will never be coming to America, but freedom will be coming to Cuba."

The speech marked the latest justification Trump has offered for the war with Iran.

In addition to defending the decision to attack Iran, Trump was expected to use his speech to criticise the UN, highlighting his administration's efforts to prevent the organisation and other international bodies from encroaching on US sovereignty or advancing what it views as a left-wing agenda, according to a White House official.