President Donald Trump said the U.S. has postponed planned strikes on Iran’s energy infrastructure for five days following what he described as “very good and productive negotiations regarding a complete and total resolution of their hostilities in the Middle East.”
Trump’s Monday announcement posted on Truth Social followed his Saturday statement that he had given the Iranian regime 48 hours to fully open the Strait of Hormuz, warning of attacks on Iran’s energy sector if Tehran failed to comply.
Iran, however, disputed Trump’s claims. Iranian parliament speaker Mohammad Bagher Ghalibaf however denied that any negotiations had taken place, calling reports “fake news” meant to “manipulate financial and oil markets.”
2/ No negotiations have been held with the US, and fakenews is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped.
— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) March 23, 2026
Oil prices plunged about 11%, with U.S. crude settling at $88.13 per barrel after Trump’s announcement. International Brent crude fell to $99.94 per barrel, finishing below $100 for the first time since March 11.
Speaking to reporters Monday, Trump reaffirmed his account, saying his son-in-law Jared Kushner and U.S. special envoy Steve Witkoff took part in Sunday talks with “a top person” in Iran. He said the discussions produced “major points of agreement,” including a commitment that Tehran will “never have a nuclear weapon.”
“They very much want to make a deal and we’d like to make a deal too,” he said, adding that the two sides would likely speak by phone Monday before meeting in person soon.
Trump said that if the five-day pause in strikes goes well, the parties could end up settling the conflict. Otherwise, he said, the U.S. would continue military action.
He added that the Strait of Hormuz would be “opened very soon” if the effort succeeds.
Asked who would control the strait, Trump said it might be “jointly controlled” by himself and “whoever the ayatollah is,” suggesting that such a move would come as part of a “very serious form of regime change.”
According to sources cited by Reuters, direct talks between the U.S. and Iran on ending the war could be held in Islamabad as soon as this week.
