WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would halt a planned attack on Iran if negotiators managed to reach a swift agreement. He emphasized that the proposed deal needed to reopen the Strait of Hormuz and address Iran’s nuclear program. Trump also stated that Israel supported the efforts to finalize the agreement. His declaration led to the suspension of preparations for another round of U.S. military strikes. As of Monday morning, officials had not provided a signed treaty or detailed terms.
Iran did not verify Trump’s claim that Tehran had requested Washington to stop the attack. Iranian Foreign Minister Abbas Araqchi mentioned that discussions with Oman concerning navigation routes were approaching their final stage. Esmaeil Baghaei, a spokesperson for the Foreign Ministry, indicated that those talks centered on establishing a new route through the waterway, explicitly distancing these negotiations from any decisions regarding the complete opening or closure of the strait. Iran’s armed forces maintained heightened alert status following the U.S. announcement.
The announcement came after a phone conversation between Trump and Saudi Crown Prince Mohammed bin Salman. During the call, Saudi Arabia’s crown prince urged for dialogue and decreasing regional tensions. Earlier, Trump named 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 the negotiations. Saudi Arabia continues to support the ongoing talks between Washington and Tehran.
Discussions center on nuclear and maritime security concerns
The United States and Israel initiated strikes against Iran on February 28, targeting Iranian missile systems and nuclear facilities. An interim agreement temporarily halted hostilities in June, but this arrangement eventually broke down, leading to resumed military actions. Iran persists in denying it aims to develop nuclear weapons while asserting its right to civilian nuclear technology.
The Strait of Hormuz remains a critical focus as it transports a significant portion of global energy supplies. Prior to the conflict escalation, around 20% of worldwide oil and liquefied natural gas moved through this route. Iran’s restrictions have slowed tanker traffic, increasing shipping costs. Recent security incidents near Oman include a projectile damaging a tanker’s engine room, although no casualties were reported during the weekend events, according to maritime authorities.
Oil prices decline following U.S. strike suspension
Oil prices experienced a sharp decrease on Monday after Trump announced the halt of the planned U.S. attack. Brent crude dropped $4.49, or 5.1%, ending at $83.44 per barrel in early trading. U.S. West Texas Intermediate fell by $4.90, or 5.8%, closing at $79.77 per barrel. Both benchmarks had surged over 20% in July amid intensified fighting near vital shipping routes. Additionally, OPEC+ approved a production increase of roughly 188,000 barrels per day starting in September.
As of early Monday, no definitive nuclear, shipping, or security agreement had been finalized. Trump canceled the planned strike on the condition that negotiators quickly complete a deal. Iran continued discussions with Oman while maintaining its military readiness. Israel declared it remained in close security coordination with the United States. The negotiations include access through the Strait of Hormuz, Iran’s nuclear ambitions, and an end to the five-month conflict.