US President Donald Trump has cancelled the bombings planned on Iran on Thursday, citing discussions between the United States and the "highest level of leadership" in Tehran.
"Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening," he said.
In a Truth Social post, Trump said the main points of discussion were approved by all key stakeholders, including Israel and Arab states.
"Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others," he added.
The remarks had an immediate impact on the oil market, with Brent futures sliding 3.3% to $90.2 a barrel.
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Trump claimed that a deal with Tehran would be announced shortly, but the US-imposed naval blockade in Hormuz will remain in force for now.
"The naval blockade will remain in full force and effect until this transaction is finalized — Time and place of the signing to be announced shortly," he stated.
The developments came hours after Trump promised to take over Iran's Kharg Island, and assert "total control" of the country's oil and energy market.
"At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela," he had stated.
Trump also vowed to launch "very hard strikes" on Iran later on Thursday, stating that the country needs to be punished for taking too long to negotiate a deal with the US. In an interview with Fox News, he noted that any agreement with Iran will leave no scope for the country to pursue its nuclear ambitions.
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