US President Donald Trump announced Thursday that an initial agreement to end the conflict with Iran is imminent, stating he has cancelled further strikes on the country. Speaking from the Oval Office, Trump declared, "We just made a great settlement of the war with Iran," emphasizing that the terms include guarantees Iran will never possess a nuclear weapon.
Tehran quickly dismissed these claims. Foreign Ministry spokesperson Esmail Baghaei told state TV that reports of an agreement were "speculative" and insisted "nothing has been finalised." Baghaei noted that while much of the memorandum text was drafted, the US had introduced "excessive demands" and new requests, causing negotiations to stall.
The geopolitical tension has already impacted global energy markets. Brent crude prices plunged 4.4% to approximately $89 a barrel following Trump's comments. The oil price drop reflects market relief over potential de-escalation, particularly regarding the Strait of Hormuz, which Trump promised would open "as soon as we have it signed."
Despite the diplomatic rhetoric, military hostilities persist. Earlier this week, the US Central Command conducted strikes on Iranian military sites, prompting retaliatory missile fire from Iran against US bases in Bahrain, Kuwait, and Jordan. The violence resulted in casualties, including the death of three Indian sailors and injuries to an 11-year-old girl in Bahrain.
Israeli Prime Minister Benjamin Netanyahu confirmed discussions with Trump but clarified that Israel is not a party to the proposed memorandum. Netanyahu expressed support for Trump’s commitment to dismantling Iran’s enrichment infrastructure and limiting missile production.
International leaders, including those from Russia, China, and Saudi Arabia, have urged immediate de-escalation. UN Secretary-General António Guterres voiced deep concern over the continuing escalation, calling for a return to full ceasefire implementation.