WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel an impending attack on Iran if negotiators were able to reach a quick agreement. He emphasized that the proposed deal must include reopening the Strait of Hormuz and addressing Iran’s nuclear activities. Trump also noted that Israel supported efforts to finalize the deal. This declaration brought an end to the preparations for another round of U.S. military strikes. As of 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 were in their final stages. Esmaeil Baghaei, a spokesperson for Iran’s Foreign Ministry, indicated that these discussions involved a new route through the waterway. He clarified that these talks were separate from any decisions regarding the complete opening or closing of the strait. Meanwhile, Iran’s armed forces remained on alert following the U.S. announcement.
Following a phone conversation with Saudi Crown Prince Mohammed bin Salman, Trump spoke publicly. Saudi Arabia reported that the crown prince urged dialogue and sought to reduce regional tensions during their discussion. 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 completing the negotiations. Despite this, Saudi Arabia has continued to support ongoing negotiations between Washington and Tehran.
Diplomatic talks center on nuclear issues and maritime navigation
Since February 28, the United States and Israel launched strikes targeting Iran’s missile capabilities and nuclear facilities. The interim agreement in June temporarily halted hostilities but was later abandoned, leading to resumed military actions. Iran maintains that it does not seek nuclear weapons and asserts its right to develop civilian nuclear technology.
The Strait of Hormuz remains a critical concern due to its role in global energy transportation. Prior to the conflict, approximately 20% of worldwide oil and liquefied natural gas shipments traversed this route. Iran’s restrictions have slowed tanker movements, increasing shipping costs. Recent security incidents near Oman have been reported, including an attack damaging a tanker’s engine room, though no casualties were reported in the incidents over the weekend.
Oil prices decline following announcement of attack suspension
Oil prices experienced a significant drop on Monday after Trump declared that the planned U.S. attack was canceled. Brent crude decreased by $4.49, or 5.1%, to $83.44 per barrel in early trading. U.S. West Texas Intermediate fell by $4.90, or 5.8%, reaching $79.77 per barrel. Both benchmarks had surged over 20% in July amid rising tensions near key shipping channels. Additionally, OPEC+ approved an increase in production of approximately 188,000 barrels per day for September.
By early Monday, no final agreement on nuclear issues, shipping, or security had been reached. Trump canceled the planned strike on the condition that negotiators finalize a deal swiftly. Iran continued its discussions with Oman while maintaining military readiness. Israel confirmed ongoing close security coordination with the United States. The negotiations involve access through the Strait of Hormuz, Iran’s nuclear program, and the resolution of a five-month-long conflict.
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