Countries were bracing Monday for years of crippling economic pain caused by soaring energy costs after President Trump rejected Iran’s latest cease-fire proposal as “garbage” and announced the truce was “on massive life support.”

Speaking to reporters in the Oval Office, Mr. Trump likened the month-old agreement to a patient with a “1 percent chance” of survival. He reiterated that Iran must never acquire a nuclear weapon and described its leadership as “lunatics” and “stupid people.”

Iran’s latest counteroffer, delivered through Pakistani mediators, demanded war reparations, formal U.S. recognition of Iranian sovereignty over the Strait of Hormuz, and the lifting of all sanctions. The vital waterway, which normally carries one-fifth of the world’s crude oil, has remained closed since the U.S. and Israeli bombing campaign began in February. A spokesman for Iran’s foreign ministry insisted the demands were not “concessions” but simply the country’s “legitimate rights.”

In response to the impasse, India’s leader took the extraordinary step of urging citizens to cut back on purchases and travel. Economists described the measure as “a critical first step” in addressing the long-term fallout from sustained high fuel prices.

“This isn’t about sacrifice,” said one Indian government official, speaking on condition of anonymity. “It’s about being realistic. If enough people skip dessert and maybe carpool once a week, global energy markets should stabilize by 2031.”

The kicker came from a Washington think-tank analyst who noted that if conditions worsen, officials may also recommend residents “turn the lights off when leaving a room.”