Trump Holds Off Iran Strikes on Pledge a Hormuz Deal Is Close

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Or sign-in if you have an account.(Bloomberg) — US President Donald Trump said he’s holding off from new strikes on Iran, after Tehran and other Middle Eastern powers told him they’re working on an agreement that might quickly reopen the Strait of Hormuz.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTrump said he’d agreed to cancel the attack, “subject to being able to rapidly make a DEAL,” according to a post on Truth Social. “Get to work, everybody, and get it DONE.”The announcement marks a moment of potential respite after days of escalating tensions that saw Trump preparing to hit the Islamic Republic “very hard” in a bid to bring an end to a conflict that’s now in its sixth month. Neither Iranian media nor officials have indicated a deal is close.Waves of tit-for-tat Iranian attacks on American allies have targeted countries across the Middle East, while Tehran’s effective closure of the Strait of Hormuz — a global shipping chokepoint — has driven sharp swings in energy prices.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe US was asked “to hold off any attack in that the perimeters of a deal has been agreed to,” Trump said in his post on Saturday. “This would include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran’s nuclear threat.”Iran’s semi-official Fars news agency, which is affiliated with the Islamic Revolutionary Guard Corps, said Trump’s claim of halting attacks was a “repeated retreat from threats.”Axios reported earlier that Saudi Arabian Crown Prince Mohammed bin Salman had urged Trump to refrain from new strikes. The official Saudi news agency said Sunday the kingdom’s de facto ruler had stressed to Trump the need for dialog to deescalate tensions.Israel, which launched the war alongside the US but wasn’t party to an initial Washington-Iran peace deal in June, is waiting out the latest diplomatic push, according to a member of Prime Minister Benjamin Netanyahu’s security cabinet, Zev Elkin.There’s “some kind of vector toward an agreement between Iran and Oman,” he told local Army Radio on Sunday. The two nations held discussions last month that sought to reopen the Hormuz strait.Elkin expressed skepticism: “We’ll all wait to see if this vector really does become a full agreement, and whether it will be implemented and where it’s all leading.”Trump held talks with Netanyahu at the White House last week, their first meeting since the Iran war began in late February. The Israeli premier said they’d discussed options for pursuing the campaign.The prospect of yet more attacks had ratcheted up worries in the region, where Iranian attacks have previously threatened energy facilities in countries including Saudi Arabia, Qatar and Kuwait.Brent crude ended last week above $90 a barrel, compared with below $72 a barrel at the start of July.Major OPEC+ nations on Sunday agreed in principle to another token increase in their production quotas for September. The move would complete the theoretical revival of supplies halted in 2023 and give scope to add more barrels once the Middle East war ends.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.US embassies across the region on Saturday warned Americans to be prepared for flight cancellations, periodic airspace closures and other travel disruptions as tensions remained elevated.A US-Iran truce brokered in June collapsed last month, though the two sides paused strikes again in late July to give diplomacy another chance. That lull ended Tuesday night when Tehran carried out what Trump described as a surprise attack, firing multiple ballistic missiles at a US military base in Jordan. Iranian Foreign Minister Abbas Araghchi held separate calls with his Saudi and Turkish counterparts and Pakistan’s army chief before Trump’s announcement on Saturday. He warned against any “adventurous actions by the US military,” saying Iran was “fully prepared” to respond “decisively.”Araghchi also told Saudi Foreign Minister Faisal bin Farhan Al Saud any regional cooperation with the US would draw a decisive and appropriate response from Iran’s armed forces, according to a Telegram post from the Islamic Republic’s Foreign Ministry.Iranian-backed Houthis rebels in Yemen have recently opened a new front in the war, threatening shipping in the Red Sea near the Bab el-Mandeb, another shipping bottleneck.—With assistance from Salma El Wardany and Chelsea Mes.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.