On 2 August 2026, US President Donald Trump announced he was cancelling planned military strikes against Iran after regional allies pressed for de-escalation and 'the perimeters of a deal' were agreed. Trump said Iran and other Middle Eastern countries requested a pause in attacks to allow negotiations to proceed rapidly.
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This is provided a deal to end the months-long conflict is quickly reached, the US President said.
US President Donald Trump has pulled back from plans for major new strikes on Iran, in his latest climbdown after weeks of threatening to hit Tehran hard. The president said late Saturday that the US would hold off, provided a deal can be reached quickly. It follows a phone call with Saudi Crown Prince Mohammed bin Salman, who reportedly urged de-escalation, amid fears that Iran could retaliate ag
US President Donald Trump abruptly called off a new round of planned strikes on Iran on Saturday after some of Washington’s Gulf allies pushed for deescalation.
Oil prices fell sharply Sunday after President Donald Trump said he would order U.S. forces to hold off on new strikes against Iran.
Oil prices fell on Monday as investors pared geopolitical risk premiums after U.S. President Donald Trump said he had called off a planned strike on Iran.