Trump Cancels Planned Strikes on Iran, Claiming Peace Deal is Near Amid Conflicting Reports

President Donald Trump abruptly canceled planned military strikes against Iran on Thursday evening, announcing that a "great settlement" to end the months-long war had been reached. The reversal came just hours after Trump threatened to hit Iran "very hard" and seize its critical oil infrastructure at Kharg Island.[1][5][6]

Trump's announcement, made via social media and later from the Oval Office, claimed that the "highest level of Iranian leadership" had approved the final points of a memorandum of understanding. He suggested the agreement could be signed as soon as this weekend in Europe, with Vice President JD Vance attending.[4][8]

The proposed deal aims to halt the US-Israel-led war that began in late February, which has severely disrupted global shipping and energy markets. According to US officials, the agreement would extend the current ceasefire for 60 days, reopen the Strait of Hormuz, and initiate negotiations to dismantle Iran's nuclear program.[4][7]

However, the optimism emanating from the White House was quickly met with caution and contradiction from Tehran. Iranian Foreign Ministry spokesman Esmaeil Baghaei stated that while a large part of the negotiating text was finalized, Iran had "not reached a final conclusion on the agreement."[2][7]

The conflicting narratives highlight significant gaps in how each side interprets the draft terms. Iranian state media outlets, including IRNA and Mehr News, published details suggesting the deal would immediately unfreeze $24 billion in Iranian assets and allow Tehran to manage the Strait of Hormuz in partnership with Oman.[3][5]

These reports also indicated that the agreement would not require immediate concessions on Iran's nuclear program, instead delaying those substantive discussions for the duration of the 60-day ceasefire period.[3][5]

The Trump administration forcefully pushed back against the Iranian media's characterization of the deal. On Friday, Trump dismissed the leaked terms as having "nothing to do with the terms that were agreed to, in writing," calling the Iranian negotiators "very dishonorable people to deal with."[3][6]

Vice President Vance echoed this sentiment, emphasizing that the agreement is a "performance-based plan." He clarified that Iran would not receive any upfront cash or sanctions relief simply for signing the document, and that economic benefits would only flow once Tehran met strict obligations regarding its nuclear material and regional proxy funding.[5][6]

The diplomatic whiplash follows a volatile week in the Persian Gulf. Prior to the canceled strikes, the US and Iran engaged in tit-for-tat military actions, including Iranian drone attacks on US bases in the region and US strikes targeting Iranian surveillance and air defense systems.[1][6]

The Strait of Hormuz remains a central flashpoint in the negotiations. The vital waterway, which typically handles about 20% of global crude oil supplies, has seen traffic severely constrained due to Iranian threats and the ongoing US naval blockade.[4][6]

While Trump asserted that the US blockade would remain in full force until the transaction is finalized, Iranian officials have insisted that lifting the blockade is a prerequisite for any lasting peace.[5][8]

Regional allies, including Israel, are closely monitoring the fragile negotiations. Israeli Prime Minister Benjamin Netanyahu was reportedly caught off guard by Trump's sudden announcement, though his office later expressed appreciation for Trump's commitment to ensuring the final agreement dismantles Iran's nuclear enrichment infrastructure.[8]

As mediators from Qatar and Oman work to bridge the remaining gaps, the international community braces for the possibility of either a historic diplomatic breakthrough or a rapid return to open conflict.[3][7]