WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would call off a planned assault on Iran if negotiators swiftly reached an agreement. According to Trump, the deal should include reopening the Strait of Hormuz and addressing Iran’s nuclear program. He also mentioned that Israel was supportive of the diplomatic efforts. As of Monday, the White House had not disclosed a signed agreement, and specific terms or a formal timeline remained undisclosed.
Tehran did not confirm Trump’s statement that Iran had requested Washington to halt the planned strike. Iranian Foreign Minister Abbas Araqchi indicated that negotiations with Oman regarding navigation routes had reached their concluding stages. Esmaeil Baghaei, a spokesperson for Iran’s Foreign Ministry, noted that these discussions involved a new passage through the waterway, but remained separate from any decision on fully reopening Hormuz. Iran also kept its military forces on high alert.
This development followed a phone call between Trump and Saudi Crown Prince Mohammed bin Salman, during which the crown prince emphasized the importance of dialogue and reducing regional tensions. Trump listed Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio as participants in the talks. No definitive schedule for negotiations was released by Washington. Meanwhile, Saudi Arabia continues to support direct diplomatic talks between the US and Iran.
Discussions involve nuclear and maritime issues
Military strikes by the US and Israel against Iran commenced on February 28, targeting missile capabilities and nuclear facilities. An interim deal temporarily halted hostilities in June, but the agreement eventually broke down, and military operations resumed. Iran denies allegations that it seeks nuclear weapons, asserting instead its right to civilian nuclear technology. Iran maintains its stance against claims of nuclear ambitions.
The Strait of Hormuz remains central to the ongoing negotiations because of its significance in global energy transportation. Prior to the conflict, roughly 20% of the world’s oil and liquefied natural gas shipments moved through this strait. Iranian restrictions have curtailed tanker traffic, leading to increased transportation costs. Recent security incidents near Oman have also been documented, with a projectile damaging a tanker’s engine room, though officials reported no casualties during the incidents over the weekend.
Oil prices decline following diplomatic progress announcement
Oil prices dropped notably on Monday after Trump indicated that the planned US attack would be halted if an agreement was reached quickly. Brent crude declined by $4.49, or 5.1%, trading at $83.44 per barrel early in the day. U.S. West Texas Intermediate decreased by $4.90, or 5.8%, to $79.77. Both benchmarks had surged over 20% throughout July. Additionally, OPEC+ approved an increase of around 188,000 barrels per day for September.
As of early Monday, no final deal encompassing nuclear, maritime, or security issues had been established. Trump linked the cancellation of the planned strike to the swift conclusion of negotiations. Iran continued discussions with Oman and maintained military readiness, while Israel confirmed close security coordination with the United States. The negotiations remain focused on navigation through the Strait of Hormuz, Iran’s nuclear program, and ending the five-month conflict.