President Trump says US and Iran held productive talks to resolve Middle East conflict, postponing threatened strikes on Iranian power plants

TEHRAN: President Donald Trump announced the United States and Iran have held “very good” talks aimed at ending the three-week Middle East war.

In a social media post, Trump said Washington and Tehran held “productive conversations” over two days towards “a complete and total resolution” of hostilities.

He asserted he told the Pentagon to postpone all military strikes against Iranian power plants and energy infrastructure for five days, subject to the success of ongoing meetings.

The announcement marked a stunning reversal ahead of a Monday night ultimatum for Iran to reopen the Strait of Hormuz shipping lane.

Iranian media quoted the foreign ministry denying any such talks, suggesting Trump aimed to bring down soaring energy prices.

Oil prices tumbled sharply following Trump’s post, with Brent crude plunging over 14% to USD 96.00 per barrel.

West Texas Intermediate also shed more than 14% to USD 84.37 per barrel.

The conflict had driven oil prices above USD 100 a barrel, threatening a historic global energy crisis.

International Energy Agency head Fatih Birol warned a protracted war could cause a crisis worse than the 1970s oil shocks and Russia’s invasion of Ukraine combined.

Iran has retaliated against US-Israeli attacks by throttling traffic through the Strait of Hormuz, a conduit for a fifth of global crude.

It also targeted energy sites, US embassies across the Gulf, and targets in Israel.

Israel hit Tehran with fresh strikes on Monday, reported minutes after Trump’s announcement.

Key Iran ally Russia called for an “immediate cessation of hostilities” following the US president’s post.

Russian Foreign Minister Sergei Lavrov, in a call with Iran’s Abbas Araghchi, called for a political settlement considering “the legitimate interests of all parties involved, above all Iran.”

China’s foreign ministry had earlier warned of an “uncontrollable situation” should the war expand further.

The world’s second-largest economy said Monday it was capping domestic fuel cost increases to mitigate the effect of surging oil prices.

Israeli Prime Minister Benjamin Netanyahu has yet to comment on Trump’s announcement.

Netanyahu has previously spoken of a long-term campaign against Iran’s government, a state sponsor of Hamas.

In Lebanon, Israel has expanded its ground campaign against Iran-backed Hezbollah, warning of “weeks of fighting” there.

The Lebanon violence has killed more than 1,000 people and displaced more than a million, according to the health ministry.

Israel’s military said it was working to intercept a new salvo of missiles from Iran on Monday.

It also confirmed its own artillery fire killed an Israeli civilian a day earlier near the Lebanese border.

In Iran, at least 3,230 people have died in the war, including 1,406 civilians, according to the US-based Human Rights Activists News Agency.

 The Sun Malaysia