Donald Trump rejected Iran’s offer of a seven-day ceasefire to reopen the Strait of Hormuz, according to The Guardian.

The rejection was reported by The Wall Street Journal based on unnamed U.S. officials. The plan called for releasing $12 billion in frozen Iranian assets, lifting sanctions on Iranian oil and ending the naval blockade on the country’s ports, Foreign Minister Abbas Araghchi told reporters. By Saturday, the United States had still made no public response, though reports indicated Trump had rejected the proposal.