President Donald Trump announced he cancelled planned military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic 'VERY HARD' and threatened to seize its oil infrastructure.
Trump's Statement on Social Media
'I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening,' Trump posted on social media. He cited 'discussions' that 'have been brought to the highest level of Iranian leadership' surrounding a negotiated end to the war.
Details of the Negotiations
Trump said that 'discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others.' The list did not include Iran. He added that a 'time and place of the signing' would 'be announced shortly,' without providing further details.
Continued Naval Blockade
The president stated that the U.S. naval blockade of the Strait of Hormuz 'will remain in full force and effect until this Transaction is finalized.'
Impact on Oil Markets
Oil prices plunged nearly four per cent, with Brent trading below US$90 a barrel after Trump’s comments. Iran has yet to comment on Trump’s statement.
Conflicting Signals
The comments marked the latest conflicting signal Trump has sent about the status of the war, vacillating between threats of intensified attacks and insisting a peace deal is within reach. Neither scenario has yet to materialize, as Washington and Tehran have remained stuck on key points, including Iran’s nuclear program and frozen assets.
