• President Trump has canceled planned U.S. strikes against Iran scheduled for this evening, citing progress in negotiations.
  • A naval blockade will remain in place until a final agreement is reached, with a signing ceremony to be announced.
  • The shift to diplomacy follows pressure from Gulf allies and aims to de-escalate tensions in the region.

President Donald Trump aborted planned U.S. military strikes against Iran for this evening, according to a statement, as diplomatic efforts gained traction. "All parties have approved the discussions and final terms in principle and in detail," Trump said, adding that a naval blockade will stay in effect until an agreement is finalized. The time and location for a signing ceremony will be announced shortly.

The decision marks a sharp reversal from earlier threats of retaliation and comes amid intense behind-the-scenes diplomacy. Gulf states, wary of broader conflict, had pressed for a pause to allow talks to proceed, according to people familiar with the matter. The White House did not respond to requests for further comment.

Markets reacted swiftly to the news, with oil prices dipping on hopes of reduced supply disruption. Brent crude fell 1.5% in early trading, though analysts caution that the blockade remains a wildcard. "The risk premium is easing, but any deal will need to address shipping lanes concretely," said a senior energy strategist.

Iranian officials have remained publicly cautious, but state media hinted at optimism. "We are ready for a fair and mutually respectful agreement," a spokesperson said, speaking on condition of anonymity.

The framework is expected to include phased steps—such as gradual blockade relief and verification mechanisms—to build confidence. Regional analysts warn that implementation will be fraught, with hardliners on both sides signaling skepticism. Still, for now, the path of diplomacy has prevailed over the sound of war.

Correction: An earlier version of this article misstated the timing of the strikes. They were scheduled for this evening, not this morning.