WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel an upcoming attack on Iran if negotiators reached an agreement swiftly. He emphasized that the deal should reopen the Strait of Hormuz and tackle Iran’s nuclear activities. Additionally, Trump mentioned that Israel backed the diplomatic efforts. As of Monday, the White House had not disclosed a signed agreement, and specific terms or a formal timetable remained unavailable.
Iran challenged Trump’s statement that Tehran had requested Washington to halt the planned strike. Iranian Foreign Minister Abbas Araqchi noted that negotiations with Oman concerning navigation routes had reached their final stages. Esmaeil Baghaei, a Foreign Ministry spokesperson, clarified that these talks involved a new route through the waterway, but remained separate from any decision to fully reopen Hormuz. Iran also maintained a state of armed forces alert.
This development followed a phone call between Trump and Saudi Crown Prince Mohammed bin Salman. During the discussion, Saudi Arabia’s crown prince underscored the importance of dialogue and reducing regional tensions. Trump identified Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the negotiations. Washington did not release a definitive schedule for the talks. Meanwhile, Saudi Arabia continues to back direct diplomatic engagement between the United States and Iran.
Discussions involve nuclear issues and maritime disputes
Military strikes against Iran by the United States and Israel commenced on February 28, targeting Iranian missile systems and nuclear facilities. An interim agreement temporarily halted hostilities during part of June, but the deal later unraveled, leading to resumed military operations. Iran denies seeking nuclear weapons, asserting its right to civilian nuclear technology, and rejects claims suggesting otherwise.
Negotiations heavily involve the Strait of Hormuz, a critical route for global energy supplies. Prior to the conflict, approximately 20% of the world’s oil and liquefied natural gas shipped through this passage. Iranian restrictions have cut tanker traffic and driven up transportation costs. Recent security incidents near Oman have been recorded by maritime authorities, including an attack that damaged a tanker’s engine room, though no casualties were reported during the weekend events.
Oil prices decline following the announcement
Oil prices dropped significantly on Monday after Trump stated that the planned U.S. attack would not go ahead if an agreement was reached. Brent crude fell by $4.49, or 5.1%, and was trading at $83.44 per barrel in early trading. U.S. West Texas Intermediate decreased by $4.90, or 5.8%, to $79.77. Both benchmarks had risen more than 20% during July. Additionally, OPEC+ approved an increase of roughly 188,000 barrels per day for September.
As of early Monday, no final agreement had been reached concerning nuclear, maritime, or security issues. Trump linked the cancellation of the strike to the swift conclusion of an agreement. Iran continued negotiations with Oman while keeping its military on alert. Israel stated that it remained in close security coordination with the United States. The ongoing talks mainly focus on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month-long conflict.