US President Donald Trump on Thursday pulled back from threatened military strikes against Iran, a sharp reversal that came just hours after he vowed to hit the Islamic Republic “VERY HARD” and threatened to seize its oil infrastructure.
Trump said in a social media post that he had canceled the attacks, citing what he described as “discussions” that “have been brought to the highest level of Iranian leadership” aimed at reaching a negotiated end to the conflict.
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Trump on US-Iran war ending
Hours later, Trump told reporters in the Oval Office that an agreement could be signed as early as this weekend in Europe, with Vice President JD Vance expected to attend. It remains unclear whether Iran would take part.
Asked whether Iran’s supreme leader had approved a deal, Trump said, “I understand the answer is yes.” However, Iran’s semi-official Fars news agency reported earlier on Thursday, citing an unnamed source, that officials had not yet approved the text of any agreement with the United States.
“We just made a great settlement of the war with Iran, and we’re going to be subject to finalization of documents, we should get done over the next few days,” Trump said.
Trump also said he had spoken with Israeli Prime Minister Benjamin Netanyahu and the leaders of the United Arab Emirates, Saudi Arabia, Bahrain and Kuwait, and planned to speak with Turkish President Recep Tayyip Erdogan. Iran was notably absent from an earlier list of countries that Trump claimed had agreed to a framework for a deal.
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Oil prices fell below
Oil prices fell below $90 a barrel and stocks rebounded following Trump’s initial remarks.
The announcement marked the latest in a series of threats Trump has issued – and later withdrawn – since the conflict began in February.
Although he has repeatedly said an agreement was close, no deal has yet materialized. Earlier on Thursday, he threatened to seize Kharg Island, a key Iranian energy hub, a move that would likely require U.S. ground troops.
He quickly softened that position, telling Fox News he was “not sure America has the appetite” for such an operation. Asked later in the Oval Office whether the option had been ruled out, Trump said, “if we sign this agreement, it would be.”
The renewed push for a deal comes days after a two-month ceasefire collapsed amid fresh exchanges of strikes. People familiar with the diplomacy have said talks between the United States and Iran, with Qatar playing an increasingly important role as a mediator, have continued and made progress despite the violence.
According to one of the people, both sides are using the military exchanges to increase pressure and secure more favorable terms in the negotiations.
Trump on social media
Trump added in his social media post that the US naval blockade of Iran “will remain in full force and effect until this Transaction is finalized.”
On Wednesday, Iran said the Strait of Hormuz would be closed to all vessels, signaling a tighter grip over the strategic waterway.
The announcement came the same day Trump said the US military had facilitated the passage of “more than 200 commercial ships” through the strait, allowing “more than 100 million barrels of oil” to reach the market. He also claimed that the United States controls the strait, “not Iran.”
The rapidly shifting rhetoric has roiled markets as traders search for signs that a deal may be near. Trump faces mounting pressure to avoid further increases in energy prices.
According to energy consultancy FGE NexantECA, crude oil could rise to $150 a barrel if the Strait of Hormuz remains closed by August. Meanwhile, Western governments are drawing down emergency petroleum stockpiles at a record pace to contain prices.