"We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," Trump wrote on Truth Social. He said the agreement would include the "Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran's nuclear threat."
"Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL," Trump added. "The Country of Israel joins me in this commitment." He also said Washington remains prepared to strike Iran forcefully and "is locked and loaded and ready to go."
The war began Feb. 28. A temporary ceasefire was reached June 17, but it has effectively collapsed, with neither side yielding on Iran's nuclear program or shipping through the Strait of Hormuz. On July 13, the U.S. re-established a naval blockade that kept Iranian ships from leaving or entering ports. American press reports on Friday said Trump was readying more strikes as diplomatic resolution looked unlikely and energy costs climbed.
On Thursday, Egypt said a drone struck two vessels at Damietta, causing a fire. No one claimed the attack, which marked the initial assault on Egyptian territory since the war began and pointed to a widening conflict.
A tanker near Oman said it was struck late Friday; another vessel saw an explosion.
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Over the past week, Washington completed a "heavy wave" of strikes on Iran, hitting many Islamic Revolutionary Guard Corps positions. Iran retaliated against U.S. bases in Kuwait and Bahrain.
Before the war, roughly one-fifth of world oil supplies passed through the Strait of Hormuz.
An Iranian security official warned that Washington's actions would push Iran to tighten control of critical sea lanes. Mohammad Bagher Zolghadr, secretary of Iran's Supreme National Security Council, said: "The continuation of the naval blockade and warmongering by the U.S. regime will not only lock the Strait of Hormuz tighter, but will also shut down other straits and chokepoints."
Recent attacks by Yemen's Houthi rebels, together with the Egypt drone incident, have fueled concern that Bab el-Mandeb at the Red Sea's southern end could become another chokepoint for Iran while the standoff over Hormuz continues.
West Texas Intermediate finished Friday's session up over 1%, settling at $84.67. Brent, the global crude benchmark, also rose over 1% and ended at $90.12. Both benchmarks ended the week down more than 5% after Monday's selloff on optimism that the Middle East conflict would de-escalate.
Trump says the cancellation is conditional. According to the Associated Press, he declared at a televised Cabinet session at Camp David: "We will be hitting them very hard."
Iran is treating the moment with suspicion. Writing on X, Seyyed Majid Ibn Al-Reza, Iran's acting defense minister, said: "Although the enemy's recent statements are part of a psychological and cognitive warfare campaign, we consider every threat to be real and take it seriously."
Fars, Iran's state news agency, called Trump's demands a "wish list." Foreign Minister Abbas Araqchi, speaking Saturday with his Saudi counterpart, said any "aggression" by the U.S. and Israel or involvement by regional countries would draw a "decisive and proportionate response," according to his Telegram account. He warned against any U.S. "adventurous action" in separate calls with Turkey's foreign minister and Pakistan's army commander, and stressed Iran's readiness to answer firmly.
On Sunday, the Saudi Press Agency said Crown Prince Mohammed bin Salman told Trump that dialogue must be prioritized to reduce escalation and every effort should be made to achieve calm.
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