Trump rejects Iran deal, says the United States has control of Iranian money and Strait of Hormuz.

US President Donald Trump has indicated that the U.S. does not need an agreement with Iran anymore as Washington has control over Tehran's finances and the Strait of Hormuz, a key waterway.

We do not need to have a deal with Iran.” Those days are long gone,” Trump said in a post on his new social media site, Truth Social, published Thursday.

“We have their money Hundreds of Billions of Dollars, and we have their Strait!” he added.

The Strait of Hormuz is one of the world's most vital shipping lanes for global energy supplies, to which Trump was alluding. The waterway has been a hot topic in the current dispute between the United States and Iran.

His comments were made in the midst of indirect talks between Washington and Tehran that have been stalled for months on the Iranian enriched uranium programmed and the closure of the Strait of Hormuz.

Prior to the start of the war on February 28, the waterway transported around 25% of the world's oil supplies, so disrupting it would be a major worry for international energy markets.

Iran has insisted that its demands are to be first taken into account for any progress towards talks. In the meantime, Trump has also called for "reparations" from the states of the Gulf, it noted.

Trump then redirected his focus toward domestic matters in the same social media post, arguing that Vice President JD Vance should be "full focus" on the “criminality and corruption” he's seen in Democratic-led states and cities.

Trump named Minnesota, California and Illinois, claiming their administrations are mismanaged and corrupt. He said billions of dollars were being stolen each month, and that rectifying the alleged financial wrongdoing could help to balance the federal budget.

The president's remarks followed Democrats' big gains in the midterm elections which gave them control of both the House and the Senate. The party is likely to take advantage of its congressional majority to exert greater pressure on the Trump administration, from its domestic and foreign policies, to its decision-making process.