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Donald Trump said talks with Iran will happen on Monday but declined to set a deadline for an agreement after earlier saying he had called off an imminent attack in the hope of quickly reaching a deal to reopen the strait of Hormuz and resolve the impasse over Tehran’s nuclear capabilities.
For its part, Iran said it was nearing a deal with Oman over a new route through the strait of Hormuz, where a tanker reported an explosion nearby on Sunday, underscoring the continued volatility of the strategic waterway. The United Kingdom Maritime Trade Operations (UKMTO) Centre reported that the vessel and crew were all safe.
Shipping data showed on Monday that traffic in the strait had slowed after reports of vessel attacks. However, further south, two tankers laden with Saudi oil crossed the Bab el-Mandeb strait over the weekend despite Houthi threats against its oil exports in the Red Sea.
Iranian foreign ministry spokesperson Esmaeil Baqaei told state television on Sunday that a deal was close with Oman, which sits on the other side of the strait, over a new route through the waterway. “We are now going to reach an understanding on a route acceptable to both sides – neither the northern route nor the southern route – but one that respects the sovereign rights of both sides and safeguards our national interests and security,” he said in an interview.
However, he insisted that such an agreement did not mean the reopening of the strait and that it “will in no way return to the status it was before February 28th”, the day the war started.
Earlier, the IRNA state news agency quoted foreign minister Abbas Araghchi as saying that negotiations with Oman “were on track for finalisation and were going through their final stages”, without providing further details.
Oman did not immediately comment on the matter.
On Saturday night, the US president claimed on social media that Iran and other Middle Eastern countries had asked for time to complete a deal that would lead to “the immediate, complete and total” reopening of the strait and “an end to Iran’s nuclear threat”. Trump added that Tehran must “rapidly make a deal”.
As he returned to Washington from a weekend in New Jersey, Trump told reporters that a negotiation would begin on Monday afternoon but did not provide details of where it would take place or who would be involved.
Asked if there was a deadline for Iran to come to an agreement, Trump declined to answer.
Trump has repeatedly issued threats that he would escalate the war on Iran, only to allow more time for talks, which have so far not led to a comprehensive deal. Trump’s apparent de-escalation after days of threats of new attacks from each side was the latest twist in the war.
Attacks have spread across the Gulf to the Red Sea and even a Mediterranean facility in Egypt. Iran has largely closed the strait of Hormuz, a conduit for 20% of the world’s oil and liquefied natural gas before the start of the war, causing energy prices to rise and stoking broader inflation.
Oil prices fell on Monday at the opening of Asian trade after Trump’s announcement, with Brent crude dropping more than 4% to about $83 per barrel.
Trump has argued that his stated goal of keeping Iran from gaining nuclear weapons justifies higher fuel costs in the near term, but the economic pain has put political pressure on him to find a way to end the conflict.
Araghchi held phone calls with his Saudi counterpart, Prince Faisal bin Farhan, and Pakistan’s army chief, Asim Munir, to discuss diplomatic efforts, Iran’s state media reported on Sunday.
Eli Cohen, Israel’s energy minister, said there was close security and intelligence coordination between Israel and the US on everything happening in the region.
But he added: “With or without an agreement, and regardless of any external commitments, if Iran attempts to renew its nuclear programme or advance its ballistic missile industries, we will be there. We will take action, and we will strike.”
Trump and Netanyahu met on Tuesday in Washington, with an Israeli official saying they had explored all possible paths to curb Iran’s nuclear program, including diplomacy, economic pressure and force. Tehran denies it is seeking a nuclear weapon.
Reuters and Agence France-Presse contributed to this report
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