Trump spoke after the United States and Iran failed to reach an agreement at peace talks in Pakistan over the weekend.
He said Iran reached out on Monday seeking a deal, but added that any agreement must bar Tehran from developing a nuclear weapon, the Reuters news agency reported.
“Iran will not have a nuclear weapon,” Trump told reporters at the White House. “We can’t let a country blackmail or extort the world.”
Since the war began on February 28, Iran has effectively closed the strategic Strait of Hormuz to all vessels except its own, saying passage would be allowed only under Iranian control and subject to a fee, according to Reuters.
Trump has said Washington would block Iranian vessels and any ships that pay such tolls, warning that Iranian "fast-attack" craft approaching the blockade would be destroyed, Reuters reported.
It cited a spokesman for Iran's defence ministry, Brig. Gen. Reza Talaei-Nik, as saying that any attempt by foreign militaries to police the strait would escalate the crisis and threaten global energy security.
NATO allies, including Britain and France, said they would not take part in the blockade, instead stressing the need to reopen the waterway, through which about 20 percent of the world’s oil supply typically passes.
Meanwhile, oil prices again rose above USD 100 per barrel, with no sign of a swift reopening of the Strait of Hormuz, according to media reports.
Over the weekend, the United States and Iran failed to reach a deal to end the war after hours of talks in Pakistan's capital Islamabad.
Each side blamed the other for the collapse of the talks, which aimed to halt six weeks of fighting that has killed thousands and driven up global oil prices.
US Vice President JD Vance, who led the American delegation, told reporters that Iran had refused to accept Washington's demands, including a commitment not to pursue nuclear weapons.
On April 7, Washington and Tehran agreed to a two-week ceasefire shortly before a deadline set by Trump for Iran to reopen the strait.
The agreement followed mediation efforts by Pakistan’s army chief, Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, according to reports.
Poland has condemned attempts to escalate the conflict in the Middle East and urged all sides to exercise restraint and respect international law.
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Source: Reuters, IAR, PAP