WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would call off a planned strike on Iran should negotiators quickly reach an agreement. He emphasized that the proposed agreement must include reopening the Strait of Hormuz and addressing Iran’s nuclear activities. Trump also noted that Israel supported efforts to finalize the deal. His statement brought an end to preparations for another U.S. military strike, although by Monday morning, officials had not released a signed agreement or detailed terms.
Iran did not confirm Trump’s statement that Tehran had requested Washington to halt the attack. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman over navigation routes had entered their final phase. Esmaeil Baghaei, a Foreign Ministry spokesperson, explained that discussions centered on a new route through the waterway, distancing those talks from decisions about fully opening or closing the strait. Iran’s armed forces remained on high alert following the U.S. announcement.
Following a phone call with Saudi Crown Prince Mohammed bin Salman, Trump conveyed that the crown prince encouraged dialogue and reducing regional tensions. Earlier, Trump identified Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the diplomatic efforts. The White House did not specify a timeline for concluding the negotiations. Meanwhile, Saudi Arabia has maintained its support for ongoing negotiations between Washington and Tehran.
Negotiations center on nuclear and maritime issues
The United States and Israel launched strikes against Iran on February 28, targeting missile capabilities and nuclear sites, according to Washington. An interim agreement in June temporarily halted hostilities, but the deal eventually unraveled, leading to resumed military action. Iran continues to deny intentions of developing nuclear weapons and insists on its right to pursue civilian nuclear technology.
The Strait of Hormuz remains a pivotal concern due to its significance in global energy transport. Prior to the conflict, approximately one-fifth of worldwide oil and liquefied natural gas shipments moved through this route. Iran has imposed restrictions, slowing tanker traffic and increasing shipping costs. Recent security incidents near Oman, including a projectile damaging a tanker’s engine room, have been reported by maritime authorities, though no casualties were recorded in the weekend events.
Oil prices decline following halt of military actions
Oil prices dropped sharply on Monday after Trump announced the suspension of the planned U.S. attack. Brent crude decreased by $4.49, or 5.1%, to $83.44 per barrel early in the day. U.S. West Texas Intermediate also fell by $4.90, or 5.8%, reaching $79.77 per barrel. Both benchmarks had surged over 20% in July amid escalating clashes near critical shipping routes. Additionally, OPEC+ approved an increase in September production by approximately 188,000 barrels per day.
By early Monday, no final agreement had been reached regarding nuclear issues, shipping arrangements, or security measures. Trump canceled the planned strike on the condition that negotiators quickly finalize the deal. Iran continued its discussions with Oman while remaining prepared militarily. Israel stated that it continued close security coordination with the United States. The talks involve access through the Strait of Hormuz, Iran’s nuclear program, and ending the ongoing five-month conflict.