US President Donald Trump warned Tehran on Wednesday that it should “get smart soon” and capitulate to Washington’s demands for tight controls on its nuclear programme, as a US naval blockade turned the screws on Iran’s economy.

The US could extend its naval blockade of Iran for months more, oil executives were told in a meeting with Trump, an official said, after press reports that he had rejected Iran’s latest proposed deal to reopen the Strait of Hormuz.

“Iran can’t get their act together …...