WASHINGTON, D.C. / RankWire.AI / – President Donald Trump said the United States would cancel a planned attack on Iran if negotiators secured an agreement quickly. He said the proposed accord must reopen the Strait of Hormuz and address Iran’s nuclear activities. Trump also said Israel supported the diplomatic process. The announcement stopped preparations for another round of U.S. strikes. The White House had not published a signed agreement, detailed conditions or a timetable by Monday morning.
Iran did not confirm Trump’s statement that Tehran had asked Washington to halt the operation. Iranian Foreign Minister Abbas Araqchi said talks with Oman on maritime access had entered their final stage. Foreign Ministry spokesperson Esmaeil Baghaei said the discussions covered a new navigation route. He said those negotiations remained separate from decisions about fully opening or closing the strait. Iran also kept its military forces on alert while diplomatic contacts continued.
Trump made the announcement after speaking with Saudi Crown Prince Mohammed bin Salman. Saudi Arabia said the crown prince called for dialogue and lower regional tensions. Trump had earlier named Jared Kushner, special envoy Steve Witkoff and Secretary of State Marco Rubio as participants in the talks. U.S. officials released no final schedule for completing the negotiations. Saudi Arabia has continued to support diplomatic engagement between Washington and Tehran during the conflict.
Negotiations address nuclear and maritime issues
The United States and Israel launched military strikes against Iran on February 28. Washington said the operation targeted Iranian missile capabilities and nuclear facilities. A temporary agreement halted the fighting for part of June. The arrangement later collapsed, and military operations resumed. Iran continues to deny that it seeks a nuclear weapon. Tehran says its nuclear program serves civilian purposes and maintains that international law protects its right to peaceful nuclear technology.
The Strait of Hormuz remains a central issue because it carries a major share of global energy supplies. Before the conflict, about one-fifth of the world’s oil and liquefied natural gas moved through the waterway. Iranian restrictions have reduced tanker traffic and raised shipping costs. Maritime authorities also recorded several recent security incidents near Oman. A projectile damaged one tanker’s engine room, while officials reported no deaths or injuries during the weekend incidents.
Oil prices decline after strike suspension
Oil prices fell sharply on Monday after Trump announced the conditional cancellation of the planned U.S. attack. Brent crude dropped $4.49, or 5.1%, to $83.44 a barrel in early trading. U.S. West Texas Intermediate lost $4.90, or 5.8%, and traded at $79.77. Both benchmarks had gained more than 20% during July as fighting intensified near Gulf shipping routes. OPEC+ also approved a September production increase of about 188,000 barrels per day.
No final nuclear, maritime or security agreement had emerged by early Monday. Trump linked the cancellation of the planned strike to the rapid completion of an accord. Iran continued talks with Oman and maintained military readiness. Israel said it remained in close security coordination with the United States. The negotiations focus on access through the Strait of Hormuz, Iran’s nuclear activities and an end to the five-month conflict.