The Strait of Hormuz has been a flashpoint since the US-Iran war started more than two months ago after the US struck several key Iranian sites and Iran retaliated

"Project Freedom", which began on Monday, will be halted because progress has been made toward a deal with Iran, the US president says.

As President Trump again voiced optimism that Iran will "make a deal" to end the war, Tehran declared itself the regulator of Strait of Hormuz shipping.

WASHINGTON — President Trump claimed Wednesday that Iran was “choking like a stuffed pig” due to the US blockade of the Islamic Republic’s ports, which he indicated would remain in place until Tehran agreed to give up its pursuit of a nuclear weapon.

The announcement comes hours after a merchant ship reported being attacked by multiple "small" boats near the Strait of Hormuz.

President Donald Trump said his representatives are having “positive discussions” with Iran as the two countries trade peace proposals. Meanwhile, the average cost of gas in the US rose to $4.45 a gallon.

Iranian foreign ministry spokesman Esmaeil Baghaei said Iran is still looking over a proposal from the U.S. regarding an end to the war, adding that Tehran will not respond to “deadlines or ultimatums" and that those "mean nothing.

Iran said Sunday it received a U.S. response to its latest offer for peace talks, a day after President Donald Trump said he would probably reject the Iranian proposal because