WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel a planned attack on Iran if negotiators managed to finalize an agreement swiftly. Trump emphasized that the deal must include reopening the Strait of Hormuz and addressing Iran’s nuclear program. He also mentioned that Israel backed the diplomatic efforts. As of Monday, the White House had not revealed a signed agreement, and detailed terms or a formal timetable remained unavailable.
Iran did not confirm Trump’s statement that Tehran had asked Washington to halt the planned strike. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman regarding navigation routes were approaching their final stages. The Foreign Ministry spokesperson Esmaeil Baghaei added that discussions involved a new route through the waterway, but these talks were separate from any decision to fully reopen Hormuz. Iran also kept its armed forces on alert amid the ongoing diplomatic activities.
This development followed a phone call between Trump and Saudi Crown Prince Mohammed bin Salman. Saudi officials reported that the crown prince highlighted the importance of dialogue and reducing tensions in the region. Among those involved in the negotiations, Trump listed Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio. The U.S. government did not provide a concrete schedule for the talks. Meanwhile, Saudi Arabia continues to support direct diplomatic engagement between the United States and Iran.
Diplomatic talks address nuclear issues and maritime security
The United States and Israel initiated military strikes against Iran on February 28, aiming to target Iranian missile capabilities and nuclear facilities. A temporary ceasefire was established in June, halting hostilities briefly. However, the agreement eventually fell apart, and military operations resumed. Iran insists it does not seek nuclear weapons and defends its right to civilian nuclear technology, despite ongoing international concerns.
The Strait of Hormuz continues to be a central focus of negotiations because it handles a significant portion of the world’s energy shipments. Prior to the conflict, around 20% of global oil and liquefied natural gas exports passed through this waterway. Iran’s restrictions have cut down tanker traffic and driven up transportation costs. Recent security incidents near Oman, including the damage caused to a tanker’s engine room by a projectile, have heightened maritime concerns. Officials confirmed there were no casualties in the weekend incidents.
Market reactions see crude prices decline post-announcement
Oil prices dropped notably on Monday following Trump’s statement that the planned U.S. military strike would be halted if an agreement was reached. Brent crude decreased by $4.49, or 5.1%, trading at $83.44 per barrel in early trading, while U.S. West Texas Intermediate fell $4.90, or 5.8%, to $79.77. Both benchmarks had surged over 20% in July. Additionally, OPEC+ approved an increase of approximately 188,000 barrels per day for September.
As of early Monday, no final agreements had been reached on nuclear, maritime, or security issues. Trump linked the cancellation of the planned strike directly to the rapid progress of negotiations. Iran continued its discussions with Oman and maintained its military readiness. Israel also stated it remains in close security coordination with the United States. The primary focus of talks remains on navigating through the Strait of Hormuz, Iran’s nuclear pursuits, and ending the five-month-long conflict in the region.