Earlier, US Secretary of State Marco Rubio detailed the initiative that commenced on Monday to assist stranded tankers out of the Gulf. The strait has been essentially closed since the conflict started, obstructing around 20% of global oil supplies and triggering a worldwide energy crisis.
“We have mutually agreed that while the Blockade will remain fully in effect, Project Freedom … will be paused temporarily to determine if the Agreement can be finalized and signed,” Trump stated on social media.
Tehran had yet to respond immediately, with the time still early on Wednesday morning there.
Following Trump’s announcement, US crude oil futures dropped by $2.30, falling below $100 per barrel, a significant psychological barrier since the conflict has caused energy prices to surge over the past two months.
The White House did not provide an immediate comment regarding the progress made or the expected duration of the pause.
Rubio and other high-ranking officials expressed earlier on Tuesday that Iran should not be allowed to control navigation through the strait.
Iran has essentially closed off the strait by threatening to deploy mines, drones, missiles, and fast-attack vessels. The United States has responded by blockading Iranian ports and providing escort for commercial transit.
On Monday, the US military reported it had destroyed multiple Iranian small boats, as well as cruise missiles and drones.
RUBIO STATES MAIN OPERATION IS COMPLETED
In a briefing at the White House, Rubio told reporters that the United States had met its goals in its military campaign, which kicked off on February 28 in coordination with Israel.
“Operation Epic Fury is concluded,” Rubio mentioned. “We’re not looking forward to further escalations.”
One of Trump’s primary goals in launching military actions against Iran has been to prevent Tehran from developing a nuclear weapon, a pursuit that Iran denies. However, Iran has not returned more than 900 pounds of highly enriched uranium.
While Rubio was speaking, Britain’s Maritime Trade Operations agency reported that a commercial vessel had been hit by a projectile in the strait, with further details of the incident unavailable at that time.
US Defence Secretary Pete Hegseth remarked on Tuesday that the U.S. had effectively secured a route through the waterway, with hundreds of commercial vessels awaiting passage. He noted that the four-week truce with Iran remained intact.
“At this moment, the ceasefire is holding, but we will be monitoring the situation very closely,” he stated.
General Dan Caine, chairman of the U.S. Joint Chiefs of Staff, conveyed that Iranian assaults on U.S. forces had remained “below the threshold for reinitiating major combat operations at this stage.”
When asked what actions Iran would need to take to breach the ceasefire, Trump remarked: “They know what not to do.”
‘RIGHT TO RESPOND’
Just after Hegseth’s comments, the UAE’s defense ministry indicated that its air defenses were once more addressing missile and drone incursions from Iran, although Iran’s joint military command denied carrying out any such attacks.
The UAE’s foreign ministry characterized the assaults as a significant escalation and a direct threat to its security, asserting that the Gulf Arab state retained its “full and legitimate right” to respond.
In turn, Iran’s foreign ministry dismissed Abu Dhabi’s statements, claiming its military actions aimed solely at countering American aggression.
The US military reported on Monday that two U.S. merchant ships successfully navigated the strait, although the specifics on timing were not disclosed, while shipping firm Maersk confirmed that the Alliance Fairfax, a U.S.-flagged vessel, exited the Gulf under U.S. military escort on Monday.
Iran refuted claims of any crossings occurring.
PAKISTAN’S MEDIATION EFFORTS CONTINUE
The ongoing conflict has led to numerous casualties as it extends beyond Iran into Lebanon and the Gulf, disrupting the global economy. The head of the International Monetary Fund indicated on Tuesday that it would take three to four months to address the fallout, even if the fighting ceased immediately.
Rubio reported that 10 civilian sailors had lost their lives in the conflict, emphasizing that crew members on vessels trapped in the waterway were “starving” and “isolated.”
Trump informed reporters in the Oval Office that Iran’s military had been reduced to using “peashooters,” asserting that Tehran sought peace despite its outward show of force.
The conflict is also putting pressure on Trump’s administration ahead of critical midterm elections in November, as surging gas prices impact voters.
Trump has stated that the US-Israeli strikes aimed to eliminate what he described as imminent threats posed by Iran, referencing its nuclear and ballistic missile programs and its support for Hamas and Hezbollah.
Iran has criticized the strikes as violations of its sovereignty, affirming its right to pursue nuclear technology for peaceful purposes, including enrichment, as a signatory to the Nuclear Non-Proliferation Treaty.
Attempts to facilitate a resolution to the conflict have yet to bear fruit, with U.S. and Iranian officials having engaged in one round of direct peace talks, but subsequent meeting arrangements have fallen through.
Iranian Foreign Minister Abbas Araqchi confirmed that peace talks were advancing with Pakistan’s mediation.
On Wednesday morning, he arrived in Beijing to discuss bilateral relations and regional and international matters with his Chinese counterpart, according to Iranian media reports. Trump is also scheduled to visit China this month.
