President Donald Trump has announced that the United States will postpone any military strikes against Iranian power plants and energy infrastructure for five days following what he described as “very good and productive conversations” between the US and Iran.
The decision came just a day after Iran warned it would completely close the Strait of Hormuz if the US followed through on threats to bomb Tehran’s power facilities. Trump had earlier issued a 48-hour ultimatum on Saturday, which was due to expire on Monday, but later scaled back the threat in a post on Truth Social.
Oil prices fell by more than 13 percent following Trump’s comments. The decline came after prices had surged above $100 per barrel last week as Iranian attacks on vessels disrupted shipping through the Strait of Hormuz.
The attacks had triggered Trump’s earlier ultimatum in which he threatened to obliterate Iranian power plants “starting with the biggest one first” if the vital shipping route was not fully reopened.
Iran has not publicly confirmed whether direct talks were held with the United States. However, on Sunday, the Islamic Revolutionary Guard Corps (IRGC) warned that companies with US shares would be “completely destroyed” if Iranian energy facilities were targeted.
The IRGC also warned that power plants in regional countries hosting US military bases would be considered legitimate targets if Iran’s energy infrastructure was attacked.
Several countries have reportedly intensified diplomatic efforts as both the US and Iran signaled a potential escalation through retaliatory actions. According to Trump, one of the US war objectives in Iran is to protect its Middle Eastern allies, including Israel, Saudi Arabia, Qatar, the United Arab Emirates, Bahrain, and Kuwait, many of which have come under attack from Iran since the conflict began nearly a month ago.
