Trump cancels planned strikes against Iran as peace talks show progress

President Donald Trump canceled planned US strikes against Iran on June 11, pulling back from another military escalation as negotiations showed signs of progress.

The strikes had been scheduled for Thursday evening after a period of direct confrontation between Washington and Tehran. Trump said the decision followed high level discussions with Iranian leadership and international stakeholders, including Israel, Saudi Arabia, the UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt.

The White House move does not fully end the pressure campaign. Trump said a naval blockade targeting Iran will remain in place until an agreement is finalized, keeping the dispute tied to one of the world’s most important energy corridors.

The cancellation follows days of heightened tension after Iran was blamed for downing a US Army Apache near the Strait of Hormuz. US forces responded with strikes on Iranian air defense and radar sites before the latest planned operation was called off.

The Strait of Hormuz remains the central market risk. Roughly a fifth of global oil flows pass through the chokepoint, making any renewed military action there a direct threat to energy prices, shipping routes, and inflation expectations.

Gulf states had pushed for restraint as talks continued. Qatar, Saudi Arabia, and the UAE have all tried to prevent another cycle of strikes that could disrupt energy exports and destabilize the region.

Bitcoin had traded lower during the most escalatory phases of the standoff, falling below $62,000 as risk appetite weakened. De escalation headlines helped ease some of that pressure, though the market remains sensitive to any sign that talks are breaking down.

The next phase depends on whether negotiators can turn the pause into a formal deal. The core disputes over Iran’s nuclear program, regional military activity, and access around Hormuz remain unresolved.

Trump’s decision buys time. It does not remove the military option from the table. If talks fail, the strikes he canceled could quickly return to the agenda.

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