New talks between US and Iran to start today after Trump calls off 'World War Two'-level strikes
President Trump has initiated new negotiations with Iran after canceling a planned military strike, citing potential 'disastrous' consequences. The move follows pressure from regional allies and has led to a drop in global oil prices.
Why it matters
The shift from military escalation to diplomacy in the Strait of Hormuz is a significant development in global geopolitical stability and energy markets.
US PRESIDENT DONALD Trump has said that new negotiations with Iran will begin today after he decided to hold off on new “disastrous” strikes in favour of pursuing a deal.
On Saturday, Trump pulled back from threats for a massive attack against Iran, saying the “perimeter” of a deal was taking shape.
Oil prices have fallen nearly 5% in the hours after Trump announced the fresh talks.
On board Air Force One yesterday, Trump told reporters that Iran “don’t want to be attacked” and “knew the extent of the attack because they saw it forming”.
“Now what we’re doing is we’re talking to them in the form of a negotiation. It begins tomorrow afternoon,” he said.
He did not provide further details about the venue of the talks or the participants.
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