WASHINGTON, D.C. / RankWire.AI / – President Donald Trump stated that the United States would halt a planned assault on Iran if negotiators could swiftly reach an agreement. He emphasized that the deal should reopen the Strait of Hormuz and address Iran’s nuclear activities. Trump also mentioned that Israel backed efforts to finalize the arrangement. His declaration put an end to the preparations for another round of U.S. military action, though no signed agreement or detailed terms had been released by Monday morning.
Iran has not confirmed Trump’s claim that Tehran had requested Washington to cease the attack. Iranian Foreign Minister Abbas Araqchi indicated that talks with Oman regarding navigation routes were in their concluding stages. Esmaeil Baghaei, spokesperson for Iran’s Foreign Ministry, explained that discussions focused on establishing a new route through the waterway but distinguished those talks from decisions about fully opening or closing the strait. Meanwhile, Iran’s armed forces stayed on alert following the U.S. announcement.
Trump’s statement came after a phone call with Saudi Crown Prince Mohammed bin Salman. Saudi Arabia reported that the crown prince advocated for dialogue and easing regional tensions during the discussion. Earlier, Trump identified Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as key participants in the diplomatic efforts. The White House did not specify a timeline for concluding these negotiations. Saudi Arabia has continued to support dialogue between Washington and Tehran.
Diplomatic talks center on nuclear and maritime concerns
Since February 28, the United States and Israel have carried out strikes against Iran, targeting missile capabilities and nuclear sites. An interim agreement led to a limited halt in hostilities in June, but the deal eventually broke down, and military operations resumed. Iran insists it is not seeking nuclear weapons and defends its right to develop civilian nuclear technology.
The Strait of Hormuz remains a pivotal issue because it transports a significant portion of the world’s energy resources. Prior to the conflict, roughly one-fifth of global oil and liquefied natural gas passed through this route. Iran’s restrictions have slowed tanker movements and increased shipping costs. Maritime authorities have reported multiple recent security incidents near Oman, including one projectile that damaged a tanker’s engine room. No casualties were reported in the weekend incidents.
Oil prices decline following the suspension of military actions
Oil prices experienced a sharp drop on Monday after Trump announced the halt of the planned U.S. strike. Brent crude decreased by $4.49, or 5.1%, settling at $83.44 per barrel in early trading. 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 increased fighting near critical shipping lanes. Additionally, OPEC+ approved a September increase in oil production by approximately 188,000 barrels per day.
As of early Monday, no final agreement had been reached on nuclear, shipping, or security issues. Trump canceled the planned strike on the condition that negotiators quickly finalize a deal. Iran continued discussions with Oman while maintaining its military preparedness. Israel stated 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.