The US has offered to unfreeze Iranian assets in exchange for overseeing the Strait of Hormuz, The Wall Street Journal reports.

The U.S. and Oman are looking for ways to break Iran’s insistence on charging tolls for ships to pass through the Strait of Hormuz. Their chief lever in indirect talks was a promise to unfreeze some of the $100 billion in Iranian funds held overseas.

So far, Tehran isn’t taking the bait. Its military leaders are responding with a fresh round of threats against ships passing through one of the world’s most trafficked waterways.

Iran on Thursday made it clear that the proposed compensation was not enough to change the country's position. After returning from Doha, Iran’s deputy foreign minister for legal and international affairs, Kazem Gharibabadi, stated that the Strait of Hormuz is under the control of the Iranian authorities, not Washington.

And later that day, the Iranian military warned that any ship that did not move along the route approved by the Islamic Republic would receive an immediate and decisive response.