WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would halt a planned assault on Iran if negotiators quickly reached an agreement. He emphasized that the deal must include reopening the Strait of Hormuz and addressing Iran’s nuclear pursuits. Trump also mentioned that Israel supported the diplomatic efforts to finalize the deal. His statement put an end to the preparations for another U.S. military strike, with officials not having released a signed agreement or specific terms by Monday morning.
Iran did not confirm Trump’s assertion that Tehran had requested Washington to cease the attack. Iranian Foreign Minister Abbas Araqchi stated that discussions with Oman regarding navigation routes were nearing their conclusion. Esmaeil Baghaei, a spokesperson for Iran’s Foreign Ministry, explained that these talks centered on establishing a new route through the waterway. He clarified that these negotiations were separate from any decisions about fully opening or closing the strait. Additionally, Iran’s armed forces remained on high alert following the U.S. announcement.
The president’s remarks followed a phone conversation with Saudi Crown Prince Mohammed bin Salman. Saudi Arabia reported that during the call, the crown prince called for dialogue and a reduction in regional tensions. Earlier, Trump named Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as key figures in the diplomatic efforts. The White House did not provide a timeline for concluding the negotiations. Meanwhile, Saudi Arabia has maintained its support for discussions between Washington and Tehran.
Diplomatic talks center on nuclear and maritime concerns
On February 28, the United States and Israel initiated strikes against Iran, with Washington asserting the targets included Iranian missile capabilities and nuclear facilities. A temporary ceasefire was established in June through an interim agreement, but this arrangement later fell apart, leading to resumed military action. Iran continues to deny any intention to develop nuclear weapons, asserting its right to pursue civilian nuclear technology.
The Strait of Hormuz remains a critical issue due to its role in global energy transportation. Prior to the conflict escalation, approximately 20% of worldwide oil and liquefied natural gas shipments traveled through this route. Iran’s restrictions have hindered traffic, slowing tanker movements and increasing shipping costs. Recent security incidents near Oman have been reported by maritime authorities, including an attack that damaged a tanker’s engine room, though no casualties were reported over the weekend.
Oil prices decline following announcement of attack suspension
Oil prices experienced a sharp decline on Monday after Trump declared the U.S. military plans on hold. Brent crude fell by $4.49, or 5.1%, settling at $83.44 per barrel in early trading, while U.S. West Texas Intermediate dropped $4.90, or 5.8%, to $79.77 per barrel. Both benchmarks had surged over 20% in July amid intensified fighting near critical shipping routes. Additionally, OPEC+ approved an increase of roughly 188,000 barrels per day for September production.
As of early Monday, no definitive nuclear, maritime, or security agreement had been reached. Trump left the strike cancellation in place on the condition that negotiators conclude the deal swiftly. Iran maintained ongoing talks with Oman and kept its military forces on alert. Israel confirmed it remained in close security coordination with the United States. The negotiations focus on access through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.