Donald Trump has said he has postponed attacks against Iranian power plants and energy infrastructure after “very good and productive conversations” with Tehran.
The US president said the pause would last for five days and depended on “the success of the ongoing meetings and discussions”.
He had previously given Iran a 48-hour ultimatum that warned the US would “obliterate” its power plants unless it stopped blocking the Strait of Hormuz – a deadline that was set to expire just before midnight UK time.
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But Mr Trump struck a more positive tone in his Truth Social post on Monday.
He said the US and Iran had been talking over the last two days about a “complete and total resolution of our hostilities in the Middle East” and he had told officials to “postpone any and all military strikes” against its power network.
Iran had warned it would float mines in the Persian Gulf and attack regional power plants if the US followed through.
State media framed the latest development as a victory – with a TV banner reading: “US president backs down following Iran’s firm warning.”
It’s not yet known who was involved in the talks or how they took place.
The Strait of Hormuz – the narrow waterway used to transport about a fifth of global oil and liquefied natural gas – effectively remains shut due to the threat of Iranian attacks.
Oil prices have spiked and the economic effects are already being felt. Petrol prices have increased and there’s a warning energy bills, inflation and interest rates could go up if the war drags on.
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However, Mr Trump’s update raised hopes that tensions could be easing – oil prices dipped 10% and natural gas fell 6% in the wake of his post.
The president’s more upbeat tone comes after a major escalation last week when Iran caused significant damage to a liquefied natural gas site in Qatar in retaliation for an Israeli strike on its own South Pars gas field.
For now, peace in the region still appears some way off.
In a familiar pattern in the month-long conflict, Israel said this morning it had launched “wide-scale” strikes on Iran, while Tehran fired missiles at the UAE and Saudi Arabia.
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Authorities say more than 2,500 people have died; some 1,500 in Iran and more than 1,000 in Lebanon as Israel attacks the country’s paramilitary Hezbollah group.
Lebanon‘s president has claimed Israel is preparing for a “ground invasion” after it struck bridges in the south.
Fifteen Israelis and 13 US military personnel have also so far died in the war.