Trump Delays New Iran Attacks for Two Weeks to Clinch Ceasefire
President Donald Trump postponed by two weeks his threat to attack civilian infrastructure across Iran, as negotiators inched closer to a ceasefire deal that will see Tehran reopen the Strait of Hormuz.
Trump posted on social media Tuesday that the agreement would be “subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”
“I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double sided CEASEFIRE!” Trump wrote.
The emerging deal marks a major breakthrough and comes less than two hours before the expiration of Trump’s deadline of 8 p.m. New York time for Iran to reopen the strait or face a wave of strikes against power plants, bridges and other targets.
Oil slumped after Trump announced his decision. West Texas Intermediate fell as much as 11% to below $101 a barrel, after gaining 0.5% on Tuesday in a volatile session, while Brent closed at around $109.
There was still no word from Iranian officials on whether they would agree to allow commercial shipping to move safely through the strait. The terms of a possible pact also weren’t disclosed. Trump only said the US had received a 10-point proposal from Iran, describing it as “a workable basis on which to negotiate.”
“Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated,” he said.
Trump’s comments represent a dramatic climb-down from his bellicose social media post earlier Tuesday, in which he warned “a whole civilization will die tonight, never to be brought back again” if Iran didn’t capitulate in the face of his threats. That threat and the looming deadline had prompted a last-minute rush by Pakistan to try to secure a deal.
The country’s prime minister, Shehbaz Sharif, had earlier posted on social media that talks were “progressing steadily, strongly and powerfully” and that his country had asked Iran to “to open Strait of Hormuz for a corresponding period of two weeks as a goodwill gesture.”
Much remains unclear about the ceasefire agreement or whether it will hold. Also unknown was the extent to which Israel, which has been hitting targets across Iran in coordination with the US, would abide by it.
The decision to stand down — at least for now — marked the latest case of the president backing off a threat to broaden the list of military targets in Iran to include civilian infrastructure such as power plants and desalination facilities. In March, he had given Iran five days to reopen the strait or face such attacks, and then extended the deadline another 10 days.
Source: Bloomberg.com
