President Donald Trump on Monday announced to pause the US strikes on energy infrastructure for five days following “productive” ongoing talks with Iranian leaders.
Taking to X, Trump wrote in Truth Social post, “Based on the tenor and tone of these in depth, detailed and constructive conversations which will carry on throughout the week, I have also instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period.”
As per the recent post, the US and Iran have been involved in talks regarding a complete and total resolution of our hostilities in the Middle East.
The move comes after Trump’s ultimatum to launch attacks if Iran does not open the Strait of Hormuz within 48 hours. In response, Iran also threatened to hit energy infrastructure in Gulf countries, thereby raising the stakes of a dramatic escalation.
As a result of Trump’s warning and Iran’s belligerent response, oil prices spiked with the global benchmark Brent crush rising to 1.69 percent to $114.09 a barrel. The US crude increased 2 percent to $100.29.
Trump has also been making efforts to form a coalition of the US allies, aiming to police and open the strategically important Strait of Hormuz.
Recently, the US has also criticized NATO, Australia, Japan, and South Korea for a lack of military assistance in the strait.
Around 20 percent of global oil passes through the strait. In the wake of persistent closure of Strait of Hormuz, the world is witnessing very severe oil shocks as warned by Fatih Birol, the IEA’s executive director.
