The United States President, Donald Trump, has ordered the Defence Department to postpone all airstrikes against Iranian power plants and energy infrastructure for a five-day period.
The Guardian reported on Monday that this follows what Trump described as “productive talks” amid the US–Israeli war against Iran.
Trump’s comments signal another positive momentum in the Middle East crisis, which has spanned over three weeks.
What Trump is saying
The US President cited productive conversations with Iran, which America and Israel have jointly battled for over three weeks.
- The development is subject to the “success” of ongoing “meetings and discussions,” Trump said in a Truth Social post.
- Trump said that, over the last two days, Washington and Tehran had “very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.”
Markets have reversed earlier moves after Trump’s comments, according to the BBC.
- Brent crude has fallen 13% to about $96 a barrel. The FTSE 100 index is now up 0.5%, having fallen more than 2% earlier.
- Gas prices have fallen from 159p a therm to about 139p.
The yield on 10-year United Kingdom government bonds, which had risen to 5.121% earlier, is now down to 4.89%, which is lower than at the start of the day.
Backstory
Trump said on Saturday that he was giving Iran 48 hours — until shortly before midnight GMT on Monday — to open the Strait of Hormuz, the vital waterway effectively being blocked by Iran, which carries about a fifth of global oil and liquefied natural gas supplies.
- The announcement was made via a post on Trump’s Truth Social account and shared by the official X account of the White House.
- The warning came amid rising tensions in the Middle East and growing fears over disruptions to global energy supplies as Iran continues to block the strategic waterway.
- Trump stressed that the United States would act decisively if Iran failed to comply, highlighting the potential targeting of Iranian power facilities.
Tehran said it would “irreversibly destroy” essential infrastructure across the Middle East, including vital water systems, if the US followed through on Trump’s threat.
Iran also said it would hit power plants in all areas that supply electricity to American bases, “as well as the economic, industrial and energy infrastructures in which Americans have shares.”
What you should know
The International Energy Agency (IEA) has said over 40 energy assets have been damaged in the Middle East due to the United States–Israeli war against Iran.
- IEA’s Executive Director, Fatih Birol, said this on Monday, according to a Bloomberg report.
- The IEA chief said more than 40 energy assets across nine countries in the Middle East have been “severely or very severely” damaged by the war.
He warned that this could potentially prolong disruptions to global supply chains even after the conflict ends.
