WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel plans for an attack on Iran if negotiators manage to reach a swift agreement. He emphasized that the deal should include reopening the Strait of Hormuz and addressing Iran’s nuclear program. Trump also mentioned that Israel supports efforts to finalize the deal. This statement put an end to ongoing preparations for another round of U.S. strikes, though officials had not released a signed agreement or detailed terms by Monday morning.
Iran did not verify Trump’s claim that Tehran had requested Washington to halt the attack. Iranian Foreign Minister Abbas Araqchi stated that discussions with Oman on navigation routes were nearing their final stages. Esmaeil Baghaei, spokesperson for Iran’s Foreign Ministry, explained that talks were focused on establishing a new route through the waterway, separating these negotiations from any decisions about fully opening or closing the strait. Meanwhile, Iran’s armed forces remain alert following the U.S. announcement.
Following a phone call with Saudi Crown Prince Mohammed bin Salman, Trump addressed the situation. Saudi Arabia reported that the crown prince had urged diplomatic dialogue and the reduction of regional tensions during the conversation. Trump previously 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 specify a timeline for concluding the negotiations. Saudi Arabia continues to support the ongoing talks between Washington and Tehran.
Diplomatic negotiations center on nuclear and maritime issues
The US and Israel launched strikes against Iran on February 28, targeting missile capabilities and nuclear sites, according to officials. An interim deal halted hostilities temporarily in June, but it later broke down, and military operations resumed. Iran maintains it does not seek nuclear weapons, asserting its right to civilian nuclear technology.
The Strait of Hormuz remains vital, as it transports a significant portion of global energy supplies—about 20% of the world’s oil and liquefied natural gas before the conflict. Iran has limited traffic through the strait, causing delays and raising shipping costs. Recent security incidents near Oman include a projectile damaging a tanker’s engine room, though no casualties were reported during the weekend.
Oil prices decline following the announcement of attack suspension
Oil prices plummeted on Monday after Trump declared the suspension of the planned U.S. attack. Brent crude dropped $4.49, or 5.1%, settling at $83.44 per barrel. U.S. West Texas Intermediate declined $4.90, or 5.8%, to $79.77 per barrel. Both benchmarks surged over 20% in July amid intensified fighting near key shipping routes. Additionally, OPEC+ approved a production increase of about 188,000 barrels per day for September.
As of early Monday, no final agreement on nuclear issues, shipping arrangements, or security had been reached. Trump canceled the planned strike conditional on negotiators completing a deal swiftly. Iran remains engaged with Oman while maintaining military readiness. Israel stated it continues close security cooperation with the United States. Discussions involve access through the Strait of Hormuz, Iran’s nuclear program, and an end to the five-month conflict.