President Donald Trump - Photo by AFP
DUBAI/WASHINGTON, June 11 (Reuters) – WASHINGTON, June 11 (Reuters) – U.S. President Donald Trump said he has canceled planned strikes against Iran on Thursday, hours after threatening more bombings and a desire to “take” oil export hub Kharg Island.
“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,” Trump wrote in a post on Truth Social.
Trump said “discussions and final points” have been approved by the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others.
“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 said.
President Donald Trump had previously said on Thursday that the United States would hit Iran “very hard tonight” and wanted at some point to take Iran’s oil infrastructure hub, Kharg Island, after strikes by both sides in the Gulf undermined a shaky ceasefire.
Iranian sources and Western officials said indirect U.S.-Iranian talks on a preliminary peace deal had intensified. But a worsening of hostilities this week has undermined prospects for a swift end to more than three months of war.
Iran exports most of its oil via Kharg Island, with volumes usually amounting to 2 million barrels per day, or around 2% of global supply, and flowing mainly to China.
Oil prices were, however, almost flat on Thursday as investors weighed Trump’s comments against the actual impact of supply disruptions from the war.
A move to capture Kharg Island would not have an immediate impact on oil shipments because flows have been suspended in recent weeks following a U.S. blockade of Iranian oil exports – imposed after Iran effectively blocked the Strait of Hormuz, a vital artery for oil and liquefied natural gas.
Despite the latest hostilities, three Iranian sources and Western officials said U.S.-Iranian talks had intensified, with some issues yet to be discussed in detail, including a mechanism for the release of billions of dollars in frozen Iranian funds.
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