Claims talks with ‘top person’ in Iran; oil prices ease
Agency
DUBAI: President Donald Trump extended his deadline for Iran to reopen the crucial Strait of Hormuz to international shipping, saying Monday that the US would hold off on threatened strikes against Iranian power plants for five days.
In his announcement on Truth Social, Trump also held out the possibility of a resolution to the war – though Iranian officials denied there were negotiations. Trump’s turnaround appeared to offer something of a reprieve after the US and Iran traded threats with potentially catastrophic repercussions for civilians across the region.
Trump later told reporters that Iran wants “to make a deal,” and claimed US envoys have been holding talks with a “respected” Iranian leader. He said his Middle East special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner, conducted talks Sunday into the evening, and that the negotiations would continue.
Trump did not name any official or officials representing Tehran. He said the US has not talked to Supreme Leader Ayatollah Mojtaba Khamenei. Trump said if a deal is reached with Iran, the US will move to take Iran’s enriched uranium critical to its disputed nuclear program.
Shortly after Trump’s social media announcement – hours before the deadline was set to expire – Iranian state television declared that the American leader had backed down “following Iran’s firm warning.”
Trump said over the weekend that the US would “obliterate” Iran’s power plants unless the country releases its stranglehold on the Strait of Hormuz within 48 hours – a deadline that would have expired late Monday Washington time.
But on Monday morning, Trump wrote on his Truth Social site that the US and Iran have had “very good and productive conversations” that could yield “a complete and total resolution” in the war.
Trump added that the suspension of his threat to attack power plants was “subject to the success of the ongoing meetings and discussions.”
Trump did not elaborate on the negotiations that had taken place, and the state-owned IRAN newspaper reported that Iran’s Foreign Ministry denied that there had been any.
“Remarks by the US president are part of efforts to reduce energy prices and buy time to implement his military plans”, the newspaper said.
Relief ripped through financial markets after President Donald Trump’s announcement with oil prices easing, and stock prices jumping on Wall Street following severe losses elsewhere in the world before Trump’s announcement.
The price for a barrel of Brent crude fell 10.5 per cent to USD 100.37, down from nearly USD 120 last week, after Trump said on his social media network that the United States and Iran held productive talks the last two days “regarding a complete and total resolution of our hostilities in the Middle East.”
The S&P 500 leapt 1.9 per cent toward its best day since well before the war began following the step down in tensions, even though Iran denied there were any negotiations.