Middle East War

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Trump calls off latest threats to strike Iran, citing a breakthrough in talks to end the war

DUBAI, United Arab Emirates (AP) — U.S. President Donald Trump said Thursday he had called off new military strikes on Iran, claiming a breakthrough in negotiations to end the war just hours after the American leader threatened to escalate the conflict by seizing control of Iran’s oil industry.

https://apnews.com/article/iran-us-ceasefire-hezbollah-israel-11-june-2026-3c2c6d356a1e25b4d7edf66b2edba57d?

US-Iran Negotiations

President Donald Trump canceled plans yesterday to strike Iran, citing progress in diplomatic negotiations. The announcement came hours after Trump said the US would soon be “taking” Kharg Island, likening the plan to the US operation in Venezuela. Kharg Island is a coral outcrop roughly 20 miles off the coast of Iran, measuring eight square miles (around one-third the size of Manhattan). The island is critical to Iran’s oil infrastructure: around 90% of its oil exports travel through it, mostly via underwater pipelines. Because Kharg Island is surrounded by deep waters, supertankers are able to dock there—in contrast to Iran’s coastline, most of which is too shallow. The island exports up to 7 million barrels of oil per day, most of it to China. Explore Iranian islands in the Strait of Hormuz here. Unlike most other islands in the Persian Gulf, Kharg Island is composed of porous limestone, allowing it to maintain its own freshwater and even sustain a population of gazelles. Learn about the island’s history here.

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🔎 What's in the Iran deal

Ships are anchored yesterday in the Strait of Hormuz, as seen from Musandam, Oman. Photo: Reuters Axios' Barak Ravid unpacks the Iran deal President Trump says is so close that he'll dispatch Vice President JD Vance to sign it in Europe as soon as this weekend: The U.S.-Iran memorandum of understanding calls for the Strait of Hormuz to reopen immediately without tolls, and for Iran to receive sanctions relief based on compliance, according to a diplomat from one of the mediating countries and a U.S. official. Why it matters: The MOU would extend the ceasefire for 60 days, including in Lebanon. Nuclear negotiations would be held during that time. The text includes a framework for addressing Iran's enriched uranium stockpile, though any action on Iran's nuclear program would depend on a second, more detailed accord. State of play: The diplomat from one of the mediating countries, who walked Axios through the latest text, said the U.S. and Iran "have agreed on the text of a deal," but acknowledged the deal still needed final sign-off. As of last evening, the deal had been approved on the Iranian side at high levels but likely not by Supreme Leader Mojtaba Khamenei, two knowledgeable sources said. Zoom in: The MOU calls for the strait to be reopened immediately without tolls, with a return to pre-war shipping volumes within 30 days. In return, the U.S. blockade would also be lifted. 🖊 The deal, mediated by Qatar and Pakistan, will be called the Islamabad Agreement — if both sides ultimately agree to sign. Read on.