President Trump announced Monday he has suspended his plan to strike Iran's power plants, citing progress in negotiations to reopen the Strait of Hormuz. Trump had issued a Saturday ultimatum threatening attacks within 48 hours if Iran didn't open the strait, prompting Iranian threats to retaliate against electricity infrastructure in Israel and Gulf countries. The announcement caused U.S. stock futures to surge and oil prices to fall.
The Hormuz crisis has emerged as a key obstacle preventing Trump from ending broader regional hostilities. The exchange of threats between Washington and Tehran had escalated tensions significantly, rattling global energy markets and raising concerns about a dramatic military confrontation in the strategically vital waterway.
In an all-caps Truth Social post, Trump wrote that the U.S. and Iran have had "very good and productive conversation" over the past two days. He instructed the Department of War to postpone military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of ongoing discussions throughout the week.
Iran's foreign ministry denied any direct talks with the U.S., though acknowledged that some regional countries were attempting to reduce tensions. Tehran claimed Trump had backed down to avoid further energy price spikes and buy time for military planning. According to a U.S. source, Turkey, Egypt, and Pakistan have been passing messages between the two sides, with their foreign ministers holding separate talks with White House envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi.