Iran has insisted on a diplomatic solution to end the ongoing war with the United States after President Donald Trump rejected yet another peace plan.

Speaking to reporters at the United Nations on Friday, Araghchi said the proposed deal would trigger a seven-day countdown to reopening the strait and a pause in regional fighting. (Bloomberg)

In a post on social media, Iranian Foreign Minister Abbas Araghchi said Tehran's "conditions are clear," and that the Strait of Hormuz will be reopened once its conditions are met by the US.

"Our conditions are clear, and any move toward reopening the Strait of Hormuz is contingent on these conditions being met. Only a negotiated solution can get them out of this deadlock," the foreign minister was quoted as saying by Reuters.

Speaking to reporters at the United Nations on Friday, Araghchi said the proposed deal would trigger a seven-day countdown to reopening the strait and a pause in regional fighting.

“If there is seriousness on the US side to come to a deal and reopen the Strait of Hormuz, everything is now prepared,” the foreign minister said, adding that if the US were to agree to the plan, the rival nations could “start wider talks on mutually agreed subjects.”

Araghchi added that the plan had been sent to Washington through Qatari mediators. However, Trump has rejected the plan.

“They made a proposal but I rejected it. They want to make a deal where they open the strait immediately because they’re losing so badly," Trump told reporters on Saturday.

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Following Trump's rejection, Iranian president Masoud Pezeshkian said that Tehran will "stand firm."

“We stand firm with strength, we are at the service of our people, we will stand until our last breath, and we promise that as long as we have life in our bodies, we will be honest servants to the people; you have put us to shame, I do not consider myself worthy of your presence, I am your servant," Pezeshkian told the crowd gathered at the airport to welcome him after his return from New York.

Senior Spokesperson of the Iranian Armed Forces, Brigadier General Abolfazl Shekarchi also said Tehran will not “retreat,” adding that Iran was “the most experienced country in the world in asymmetric warfare."

“The Americans should not dream of interfering in the management of the Strait of Hormuz, and if they interfere, they will receive a slap from the Iranian Armed Forces; they must leave our region,” the IRGC spokesperson said in an interview with the state television.

Six months and a short ceasefire later, both the US and Iran continued to be locked in a conflict with no signs of a peace plan. Furthermore, the war has also resulted in the closing of the Strait of Hormuz, which has caused a global energy crisis.