Trump suggests new talks with Iran to begin on Monday
In a dramatic shift from the brink of military confrontation, US President Donald Trump has announced that new negotiations with Iran will commence on Monday afternoon, just hours after calling off what he described as "massive" strikes against the Islamic Republic. The announcement, made to reporters aboard Air Force One on Sunday, marks the latest twist in a volatile five-month conflict that has gripped the Middle East and sent shockwaves through global energy markets.A last-minute reprieve
Speaking to journalists as he returned to Washington from a weekend in New Jersey, Trump revealed that the planned military action had been halted following appeals from key regional allies. "They knew the extent of the attack because they saw it forming," Trump said. "We're talking to them in the form of a negotiation. It begins tomorrow afternoon".
According to the President, Saudi Arabia's Crown Prince Mohammed bin Salman, along with leaders from the United Arab Emirates and Qatar, had urged him to hold off on strikes over the weekend. "We were all set to go," Trump said. "The reason they asked is [that] they think there's a deal. There's a deal on Hormuz, and there will be a deal on the nuclear".
The President declined to specify a deadline for reaching an agreement with Tehran, stating simply: "We'll just see how it is. We're ready to go anytime we want... I'm not looking to kill people". He also declined to answer whether he had been planning to strike Iranian energy infrastructure—a move that international law experts have said could constitute a war crime.
Tehran's response
Iranian officials have offered a mixed response to Trump's announcement. While Iranian Foreign Minister Abbas Araghchi confirmed that negotiations with Oman on a deal regarding the Strait of Hormuz were "on track for finalisation", Tehran's semi-official Mehr news agency categorically denied that the Islamic Republic had asked the US to hold off on military action. The agency dismissed Trump's claims as "nothing but a new lie".
Iran's acting Defence Minister Majid Ibn al-Reza earlier stated that Tehran views every threat from its adversaries as "real and credible" even if it forms part of psychological warfare. "We will neither be caught off guard nor remain passive," he added. The Iranian foreign ministry has also indicated there are no plans to receive a US delegation or send Iranian representatives to Washington, suggesting that any talks would likely continue through mediators.
Markets react
The announcement had an immediate impact on global oil markets. On Monday morning in Asia trading, Brent Crude oil dropped by 4.5% to $83.98, while US-traded oil fell 4.6% to $80.74. The decline reflects growing investor optimism that a diplomatic breakthrough could lead to the reopening of the Strait of Hormuz—a critical chokepoint through which approximately 20% of the world's crude oil and liquefied natural gas typically flows.
Since the conflict began on 28 February, energy prices have been highly volatile. Oil surged above $100 per barrel multiple times during the spring, and just last week, prices had pushed past $90 following US airstrikes in retaliation for Iranian attacks. The Strait of Hormuz has been largely closed to traffic since fighting intensified two weeks ago, and the US naval blockade of Iranian ports has forced dozens of vessels to turn back.
A pattern of brinkmanship
Trump's approach to the Iran conflict has been characterised by a recurring pattern of apocalyptic threats followed by diplomatic overtures. In a Saturday social media post, the President declared that the US was "locked and loaded and ready to go against the Islamic Republic of Iran, at levels of Military Terror, Strength, and Power not seen since World War II". He described the planned strikes as "the biggest attack since World War II". Yet he simultaneously announced their cancellation, stating it would be "for the future benefit of the world and, likewise, the survival of a successful and prosperous Iran".
This is not the first time Trump has walked the tightrope between war and peace. On 7 April, he warned that "a whole civilisation will die tonight" if Iran refused to engage in peace talks, while also threatening to destroy civilian infrastructure and power plants. The President has repeatedly insisted that a negotiated end to the war is near, only for tit-for-tat strikes to resume.
What lies ahead
As Monday afternoon approaches, crucial details remain unclear. The venue for the talks has not been disclosed, nor has the list of potential attendees. Trump has indicated that the first deal would focus on reopening the Strait of Hormuz, with a subsequent agreement addressing Iran's nuclear programme. However, with less than 30 days remaining on a 60-day memorandum of understanding signed in June, time is running short.
The coming hours will determine whether this latest diplomatic gambit represents a genuine breakthrough or simply another pause in a cycle of threats and retaliation that has defined US-Iran relations for months. For now, the world watches and waits—and oil traders hold their breath.
