WASHINGTON, D.C. / RankWire.AI / – President Donald Trump said the United States would cancel a planned attack on Iran if negotiators completed an agreement quickly. Trump said the deal must reopen the Strait of Hormuz and address Iran’s nuclear activities. He also said Israel supported the diplomatic effort. The White House had not announced a signed agreement by Monday. Detailed terms and a formal timeline also remained unavailable.
US and Iran talks focus on nuclear activity and access through the Strait of Hormuz.
Iran did not endorse Trump’s account that Tehran had asked Washington to halt the planned strike. Iranian Foreign Minister Abbas Araqchi said negotiations with Oman on navigation routes had reached their final stages. Foreign Ministry spokesperson Esmaeil Baghaei said those discussions concerned a new route through the waterway. He said the talks remained separate from any decision on fully reopening Hormuz. Iran also kept its armed forces on alert.
The announcement followed a call between Trump and Saudi Crown Prince Mohammed bin Salman. Saudi Arabia said the crown prince stressed dialogue and lower regional tensions during the conversation. Trump previously identified Jared Kushner, special envoy Steve Witkoff and Secretary of State Marco Rubio as participants in the talks. Washington released no final schedule for the negotiations. Saudi Arabia has continued to support direct diplomatic engagement between the United States and Iran.
Negotiations cover nuclear and shipping disputes
The United States and Israel began military strikes against Iran on February 28. Washington said the operation targeted Iranian missile capabilities and nuclear facilities. A temporary agreement stopped the fighting for part of June. The arrangement later collapsed, and military operations resumed. Iran continues to reject claims that it seeks a nuclear weapon, while defending what it describes as its right to civilian nuclear technology.
The Strait of Hormuz remains a key part of the negotiations because it carries major global energy shipments. Before the conflict, about one-fifth of global oil and liquefied natural gas passed through the channel. Iranian restrictions have reduced tanker traffic and increased transport costs. Maritime authorities also recorded several recent security incidents near Oman. A projectile damaged one tanker’s engine room, while officials reported no casualties during the weekend incidents.
Energy prices retreat after announcement
Oil prices fell sharply on Monday after Trump said the planned U.S. attack would not proceed under the proposed agreement. Brent crude lost $4.49, or 5.1%, and traded at $83.44 a barrel during early trading. U.S. West Texas Intermediate dropped $4.90, or 5.8%, to $79.77. Both benchmarks had climbed more than 20% during July. OPEC+ also approved an increase of about 188,000 barrels per day for September.
No final nuclear, maritime or security accord had emerged by early Monday. Trump tied the cancellation of the planned strike to the rapid completion of an agreement. Iran continued its discussions with Oman while maintaining military readiness. Israel said it remained in 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 five-month conflict.