WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would cancel a planned assault on Iran if negotiators could reach an agreement swiftly. He emphasized that the deal should reopen the Strait of Hormuz and address Iran’s nuclear program. Additionally, he mentioned that Israel supported the diplomatic initiatives. As of Monday, the White House had not disclosed a signed agreement, and details of the terms or a formal timetable remained unavailable.
Iran did not confirm Trump’s assertion that Tehran had requested Washington to cease the anticipated strike. Iranian Foreign Minister Abbas Araqchi stated that negotiations with Oman regarding navigation routes had reached their final stages. Esmaeil Baghaei, a spokesperson for Iran’s Foreign Ministry, indicated that the talks involved a new route through the waterway, but these discussions were separate from any decisions about fully reopening Hormuz. Iran also kept its armed forces on alert status.
This development followed a phone conversation between Trump and Saudi Crown Prince Mohammed bin Salman. Saudi Arabia’s official account of the call highlighted the Crown Prince’s emphasis on 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 has not released a definitive schedule for the talks. Saudi Arabia continues to support direct diplomatic engagement between the United States and Iran.
Discussions involve nuclear and maritime issues
Military strikes against Iran by the United States and Israel commenced on February 28, targeting Iranian missile capabilities and nuclear sites. A temporary ceasefire was established in June, but it later broke down, leading to renewed military operations. Iran maintains its stance against the claim that it seeks nuclear weapons, defending instead its right to civilian nuclear technology.
The Strait of Hormuz remains a pivotal subject of negotiations because it facilitates a significant share of global energy shipments. Prior to the conflict, approximately one-fifth of worldwide oil and liquefied natural gas traversed this route. Iranian restrictions have decreased tanker traffic and driven up transportation costs. Several recent security incidents near Oman have also been documented by maritime authorities, including one where a projectile damaged a tanker’s engine room. No casualties were reported during the weekend incidents, according to officials.
Oil prices decline following diplomatic progress announcement
Oil prices experienced a sharp decrease on Monday after Trump indicated that the planned U.S. attack would be halted if an agreement was reached. Brent crude dropped $4.49, or 5.1%, and was trading at $83.44 per barrel in early trading. U.S. West Texas Intermediate fell by $4.90, or 5.8%, to $79.77. Both benchmarks had gained more than 20% in July. Additionally, OPEC+ approved an increase of approximately 188,000 barrels per day for September.
By early Monday, no conclusive nuclear, maritime, or security agreement had been finalized. Trump linked the cancellation of the planned strike to the swift conclusion of an agreement. Meanwhile, Iran continued discussions with Oman while maintaining its military readiness. Israel reported maintaining close security coordination with the United States. The negotiations focus on navigation through the Strait of Hormuz, Iran’s nuclear activities, and an end to the ongoing five-month conflict.