Multiple powerful explosions were reported on Iran's Qeshm Island and nearby Bandar Lengeh near the strategic Strait of Hormuz. Local air defenses engaging targets overhead amid reports of limited US strikes against Iranian positions. US President Donald Trump stated he is in "no rush" to decide on resuming military action against Iran, keeping diplomatic options open while leaving potential strikes on the table.
In a phone interview with Axios, Trump said, “One way or the other, we will do something, but there is no rush.” He claimed that US economic pressure had severely weakened Iran's financial position, leaving the country short of money and gasoline and frustrated population. He also indicated that communications with Tehran were continuing, although he questioned the pace and seriousness of Iranian negotiators.
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The administration is weighing three possible approaches which is securing a diplomatic agreement, resuming military operations or continuing economic sanctions and pressure. These options have exposed differences within Washington. Vice President JD Vance and White House envoy Steve Witkoff favour diplomacy, believing negotiations could prevent further escalation.
In contrast, Israeli Prime Minister Benjamin Netanyahu and US Defence Secretary Pete Hegseth support a tougher military approach, arguing that Iran cannot be trusted to honour an agreement. Treasury Secretary Scott Bessent, CIA Director John Ratcliffe and Secretary of State Marco Rubio favour continuing the maximum economic pressure to force Tehran into making concessions.
Meanwhile, Qatar is stepping up mediation efforts and has reportedly prepared a draft proposal that involves three days of confidence-building measures aimed at restarting direct negotiations between Washington and Tehran. Qatari mediator Ali al-Thawadi travelled to Tehran on Monday as Doha awaited responses from both sides.
Iranian President Masoud Pezeshkian has expressed optimism about a possible agreement, while Foreign Minister Abbas Araghchi indicated that diplomatic contacts were intensifying. However, Tehran insists that Washington must address its conditions concerning the Strait of Hormuz and demonstrate genuine commitment to diplomacy. Iran has also warned that renewed military action would invite a stronger response.
Russia and China are also involved in diplomatic efforts. Russian President Vladimir Putin has discussed the situation with Iranian officials, while Moscow has reportedly offered to help with the nuclear issue, potentially by receiving Iran's enriched uranium stockpile. Beijing is encouraging both countries to resume direct talks.
Following the interview, Trump claimed on Truth Social that oil prices had fallen nearly $10 per barrel, attributing the decline to expectations that the conflict would not resume and suggesting a settlement could be approaching.
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