WASHINGTON, D.C. / RankWire.AI / – President Donald Trump announced that the United States would halt a planned strike on Iran if negotiators managed to reach an agreement swiftly. Trump emphasized that the deal needed to reopen the Strait of Hormuz and address Iran’s nuclear program. He also noted that Israel supported the diplomatic efforts. As of Monday, the White House had not disclosed a signed agreement, and specific details or a formal timetable remained unavailable.
Iran did not confirm Trump’s claim that Tehran had requested Washington to stop the imminent attack. 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, explained that these talks involved establishing a new route through the waterway and remained separate from any decision to fully reopen Hormuz. Meanwhile, Iran kept its armed forces on alert.
This announcement followed a phone call between Trump and Saudi Crown Prince Mohammed bin Salman. The Saudi crown prince reportedly emphasized the importance of dialogue and reducing regional tensions during their discussion. Participants in the negotiations, according to Trump, included Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio. The U.S. did not release a definitive schedule for the talks. Saudi Arabia has consistently supported direct diplomatic engagement between the United States and Iran.
Discussions Address Nuclear and Maritime Disputes
The United States and Israel initiated military operations against Iran on February 28, targeting Iranian missile capabilities and nuclear facilities. A temporary ceasefire was established during June, halting hostilities for a short period. However, the agreement later fell apart, and military actions resumed. Iran continues to deny allegations of pursuing nuclear weapons, asserting its right to civilian nuclear technology instead.
The Strait of Hormuz remains central to ongoing negotiations because it is a vital conduit for global energy supplies. Before hostilities escalated, approximately 20% of worldwide oil and liquefied natural gas shipments passed through this waterway. Iranian restrictions have led to a decline in tanker traffic and increased transportation costs. Recent security incidents near Oman have also been reported by maritime authorities; one tanker’s engine room was damaged by a projectile, though no casualties were recorded during the weekend incidents.
Oil Prices Drop Following Announcement
Oil prices experienced a sharp decline on Monday after Trump stated that the planned U.S. attack would not go forward if the proposed agreement was reached. Brent crude fell 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 risen over 20% during July. Additionally, OPEC+ approved an increase of around 188,000 barrels per day for September.
By early Monday, no conclusive nuclear, maritime, or security agreement had been finalized. Trump linked the termination of the planned attack to the swift conclusion of an agreement. Meanwhile, Iran continued discussions with Oman and maintained military readiness. Israel stated that it remains in close security coordination with the United States. The negotiations are centered on navigation through the Strait of Hormuz, Iran’s nuclear pursuits, and ending the five-month conflict.