ERBIL, Kurdistan Region of Iraq – Iran said Monday that reaching a peace deal with Washington depends on the US government's “political rationality,” given the terms Tehran has already presented, amid reports of a possible US nuclear strike on Iran ahead of Tuesday's midterm elections.

“Consultations via mediators are very intensive. We have presented our terms and our proposal,” Iranian Foreign Minister Abbas Araghchi told reporters on Monday.

Everything now depends on “Washington’s political rationality,” given the terms Iran has presented, Araghchi said.

Tehran has claimed that the Strait of Hormuz could reopen within days if the US meets Iran’s conditions, warning that the situation would otherwise persist.

Earlier in the day, Iranian President Masoud Pezeshkian said that Supreme Leader Ayatollah Mojtaba Khamenei has granted the government “certain powers” in the negotiations with the US, adding that Tehran is trying to resolve the challenges “through dialogue.”

On Sunday, US President Donald Trump threatened renewed military action against Iran, saying Washington may eventually have to “give them the hammer.”

Trump has repeatedly referenced to the midterm elections schedued for November 3, in which his Republican Party are expecting to grapple with voters' conflict fatigue being displayed at the ballot box, when discussing his future plans regarding Iran, having affirmed in October that "we will not be attacking Iran at any time prior" to the vote.

“If they choose sincere diplomacy, we are ready to engage; however, should they opt for deception or military action, they will face a response far harsher and more severe than anything seen in the past,” Araghchi said.

On Sunday, American conservative political commentator Tucker Carlson reported that the Trump administration could launch a nuclear strike targeting Pickaxe mountain in central Iran “within days,” under pressure from Israeli Prime Minister Benjamin Netanyahu, citing informed observers.

However, when asked by reporters on Monday whether he was considering striking Iran again after the midterm elections, Trump responded: “No”.

Trump previously said that potential targets included Pickaxe Mountain, south of the Natanz nuclear complex, where Israeli intelligence claims Iran has stored nuclear material is and resumed its nuclear enrichment.

The US and Iran agreed to a ceasefire in April, largely halting hostilities, before reaching a memorandum of understanding (MoU) in June aimed at negotiating a permanent peace deal. The agreement collapsed 21 days later, as hostilities resumed and both sides targeted each other's interests in the region.

Trump has repeatedly claimed that February's US-Israeli war on Iran was instrumental in hampering Iranian ambitions to produce a nuclear weapon, despite Tehran's insistence that its nuclear program was intended for entirely civilian purposes.