❓ WHAT HAPPENED: President Donald J. Trump announced the cancellation of planned military strikes on Iran, which were scheduled for Thursday night, in a Truth Social post. On Thursday morning, the President had announced that Iran would be hit “VERY HARD,” and that Kharg Island—from which the vast majority of Iran’s oil is exported—would be seized along with other energy infrastructure in the near future.💬 KEY QUOTE: “Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly.” – President Donald J. Trump🎯 IMPACT: The cancellation of the strikes potentially averts a significant escalation of the Iran war, which has been intensifying over recent days despite a tenuous ceasefire. The move is likely to calm markets, particularly oil prices, though volatility is likely to persist as long as the situation in the Strait of Hormuz remains unresolved.📰 DETAIL: The decision to cancel the strikes was made after discussions reached the highest levels of Iranian leadership, according to President Trump, and received approval from countries including Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt. The U.S. naval blockade of Iran will remain until a deal is finalized, with Iran’s disruption of energy supplies through the Strait of Hormuz likely to continue as well.
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