President Trump stated the US is taking a 'low-key' approach toward Iran, not seeking a fresh military offensive, amid ongoing Strait of Hormuz tensions. He noted the US is only 'semi-negotiating' with Tehran, while monitoring Iran's severe economic struggles, including high inflation and inability to pay troops. The Pentagon has urged defense contractors to boost weapons production and delivery speeds due to critical munitions shortages. Meanwhile, Iran's foreign minister confirmed no direct negotiations with Washington, with talks stalled over conditions like lifting the naval blockade.

Amid continued tensions over the Strait of Hormuz, US President Donald Trump on Sunday said that the United States is adopting a "low-key" approach towards Iran and is not currently looking to launch a fresh military offensive, Axios reported.

"We are low keying it... It will work out. It always works out. It's like a chess game. - Donald Trump"

"We are low keying it," Axios quoted Trump as saying. Trump added that the US was only "semi-negotiating" with Iran and was closely monitoring its worsening economic situation.

He further added, "We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money."

Trump said Iran was "in very bad shape" economically and claimed that the Persian Gulf country does not have enough money to pay its troops. He also said that the US naval blockade has further intensified the Iranian regime's economic challenges.

However, Trump said that falling oil prices, which are slightly above USD 75 per barrel, have reduced the impact of the conflict on American consumers.

"It will work out. It always works out. It's like a chess game," Trump said, describing the ongoing situation with Iran, Axios reported.

Tensions between the US and Iran have remained high amid developments around the Strait of Hormuz, a key global oil shipping route.

His comments come amid stalled negotiations between Iran, Oman and the US aimed at reopening the Strait of Hormuz. Tehran has put forward new conditions, including lifting the US naval blockade and pulling back American forces stationed near Iran.