President Donald Trump announced the cancellation of planned strikes against Iran, citing progress on a peace deal for the Iran war. The agreement, potentially to be signed this weekend, could lead to the reopening of the Strait of Hormuz.
The de-escalation of military tensions between the US and Iran, coupled with progress toward a peace deal, could significantly impact regional stability and the flow of global energy supplies through the critical Strait of Hormuz.
President Donald Trump announced on Thursday that he was calling off the threat of an attack on Iran, citing progress on a peace deal for the Iran war that he suggested could be signed as early as this weekend.
Trump stated that the deal could be signed in Europe "soon, maybe this weekend," and that it was his understanding that Iran's supreme leader Mojtaba Khamenei had also approved of the agreement. Iran has not yet confirmed its support for the deal, which Trump described as a "very detailed memorandum of understanding" that is "a little conceptual" and has been agreed to by other influential countries.
He indicated that the Strait of Hormuz would officially open as soon as the deal is signed, potentially on Saturday or Monday. This decision follows earlier threats made by Trump to launch "VERY HARD" strikes and bombing against Tehran, including taking control of Iran's Kharg Island and other oil infrastructure.
The now-canceled military threat came after two days of heavy clashes between US and Iranian forces. The US had reportedly struck Iranian defensive and civilian infrastructure near the Strait of Hormuz, while Iran's military responded with attacks on US bases in Jordan, Kuwait, and Bahrain. Both navies had also attacked commercial vessels in the Gulf of Oman and the Strait of Hormuz.
Control of navigation through the Strait of Hormuz appeared to be the cause of the recent escalation. Trump had previously stated that the US military was conducting a clandestine operation to unblock the strait, with over 100 million barrels of oil and hundreds of vessels traveling through it under the US military umbrella. Iran, however, claimed the strait was "closed" following overnight US strikes.