U.S. President Donald Trump abruptly canceled planned military strikes against Iran, citing a breakthrough in ceasefire negotiations he claimed was approved by Tehran's leadership and regional powers. The reversal came hours after threats to attack Iran "VERY HARD," causing oil prices to drop. While Trump stated a deal was imminent, an Iranian news agency denied any agreement had been approved, highlighting the fragility of the talks.
Trump cancellation of strikes
- ▪Following Trump's announcement to cancel the strikes, oil prices dropped while stocks extended their gains
- ▪Trump stated the reason for the cancellation was that ceasefire discussions had been "brought to the highest level of Iranian leadership and approved"
- ▪On June 11, 2026, U.S. President Donald Trump announced on Truth Social that he had canceled planned military strikes against Iran
- ▪President Trump's announcement came hours after he had threatened to strike Iran "VERY HARD TONIGHT"
US-Iran ceasefire negotiations
- ▪The U.S. and Israel launched airstrikes on Iran on February 28, 2026, starting a war that has killed thousands of people
- ▪Talks between Iranian officials and Qatari mediators on June 10, 2026, reportedly narrowed gaps on releasing Iran's frozen assets and reopening the Strait of Hormuz
- ▪Trump claimed the deal's final points were approved by parties including the U.S., Israel, Saudi Arabia, UAE, Qatar, and Turkey
- ▪In 2018, President Trump withdrew the U.S. from the 2015 Joint Comprehensive Plan of Action (JCPOA), a deal restricting Iran's nuclear program
- ▪Iranian officials reportedly said an agreement in principle was reached, but Supreme Leader Mojtaba Khamenei still needed to give final approval
- ▪Iran's Fars news agency quoted a source denying that any text for a preliminary agreement with the U.S. had been approved
- ▪A draft agreement would reportedly extend a ceasefire, reopen the Strait of Hormuz, and launch 60 days of negotiations on Iran's nuclear program
US naval blockade operations
- ▪Trump stated the U.S. naval blockade of Iranian ports will remain in "full force and effect" until a final transaction is signed
- ▪On June 11, 2026, U.S. Central Command announced that the military had disabled three oil tankers in the Gulf of Oman
Iranian Strait of Hormuz closure
- ▪Control of the Strait of Hormuz is a key point of disagreement in the ongoing negotiations between the U.S. and Iran
- ▪Following recent U.S. strikes, Iran announced the full closure of the Strait of Hormuz, a key waterway for oil transport
Kharg Island targeting threats
- ▪Kharg Island is a major Iranian oil terminal that processes 90 percent of the country's crude exports
- ▪Before canceling the strikes, Trump threatened that the U.S. would take control of Iran's Kharg Island and other oil infrastructure
Iranian military responses
- ▪Iran's top negotiator, Mohammad Bagher Ghalibaf, warned that "impulsive decisions" could "explode energy infrastructure and markets."
- ▪Iran's joint military command stated it would respond more severely than before if the U.S. launched further attacks
- ▪Iran's Foreign Ministry said recent U.S. strikes rendered an April 8 ceasefire deal "practically meaningless"
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