President Donald Trump, with about 12 hours to go before the 48-hour ultimatum he issued to Iran on Saturday night expired, extended the deadline by five days, claiming that negotiations were ongoing to end hostilities. The Iranians regard it as a climb down to calm the markets rather than a real peace overture. Indeed, according to news reports, the price of oil stabilized at around $100 a barrel, and U.S. stock futures surged
“I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East,” Trump claimed on Truth Social in all caps. “Based on the tenor and tone of these in depth, detailed, and constructive conversations, which will continue throughout the week, I have instructed the Department of war to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings and discussions.”
The Iranians deny there have been any talks. “No negotiations have been held with the U.S., and fake news is used to manipulate the financial and oil markets and escape the quagmire in which the U.S. and Israel are trapped,” Mohamed Ghalibaf, the speaker of the Iranian Parliament, said on X.
An unnamed senior security official told Tasnim that Trump has retreated in the face of credible military threats from Iran regarding attacks on critical infrastructure. The source explained that pressures from financial markets and threats to bonds within the U.S. and the West have increased, describing it as another significant factor for Trump’s retreat.
The source added that since the beginning of the war until today, messages have been sent from a number of mediators to Tehran, with the clear response being that Iran will continue to defend itself until it achieves the necessary deterrence, the official stated. No negotiations are ongoing or have taken place, the source emphasized, adding that with the current state of psychological warfare, neither the Strait of Hormuz will revert to pre-war conditions, nor will there be stability in energy markets.
