Washington: U.S. President Donald Trump has once again issued a stern warning to Iran, saying ongoing negotiations represent the country's final opportunity before what he described as "devastating action."

Speaking to reporters at the White House, Trump said the United States is currently engaged in talks with Iran, adding that the negotiations are taking place at Iran's request. He said the diplomatic process is being supported by Saudi Arabia, the United Arab Emirates, Qatar, and several other countries.

Trump warned that if no agreement is reached, Iran would be missing its last opportunity to sign what he called a "good deal." He expressed hope that Tehran would make a wise decision but cautioned that failure to do so could result in severe consequences.

The U.S. President also stated that he wants to give Iran every possible final chance before any major action is taken, while suggesting that progress in the negotiations is still possible.

Commenting on the Strait of Hormuz, Trump said he would not allow Iran to impose fees on commercial vessels passing through the strategic waterway. He stressed that freedom of navigation must be maintained and rejected any attempt by Iran to charge transit fees.