US President Donald Trump said military strikes on Iran that had been scheduled for the evening of June 11 were called off after Iran's top leadership approved a negotiated framework. He said a formal agreement could be signed as early as this weekend, with a reopening arrangement for the Strait of Hormuz among the key items. For now, the US naval blockade on Iran remains in effect until the final document is signed.
Strike plans were halted after top-level approval
According to the source material, the operation had already been scheduled before Iran's leadership gave last-minute approval to the framework under discussion. Trump then announced that the strikes had been canceled through his official account. The report says the decision followed review and approval at the highest level inside Iran, which became the immediate trigger for stopping the planned action.
Regional backing extended beyond Washington and Tehran
Trump said the framework had support from a broader group of countries, not just the parties directly involved in US-Iran talks. The list in the source includes the United States, Israel, Saudi Arabia, the UAE, Bahrain, Kuwait, Qatar, Jordan, Egypt, Turkey, and Pakistan. That places the reported arrangement in a wider regional setting, tied to security concerns and shipping routes rather than a narrow bilateral understanding.
Deal terms point to blockade relief and Hormuz reopening
The source outlines five main points: the US naval blockade on Iran would be lifted after the final agreement is signed; Iran's Supreme Leader approved a full memorandum of understanding; a planned military operation involving Kharg Island is no longer under consideration; a formal deal to reopen the Strait of Hormuz could arrive as soon as Saturday or Monday; and Trump declined to set a deadline, describing Iran as "rational" while saying he believes a deal will be reached.
The Strait of Hormuz remains one of the most important energy chokepoints in the world. The source says roughly 20% of global oil supply moves through it each day, which helps explain why any sign of reopening is watched closely across commodity and financial markets.
Oil moved lower as markets priced in de-escalation
Traders reacted before any final signing. The source says WTI crude, the US benchmark, fell to about $86 a barrel. Only days earlier, oil had been climbing on conflict expectations. That pricing shifted once the market started to factor in a possible easing of tensions. The original report also ties lower oil prices to softer inflation pressure, a setup that can support risk assets such as equities and cryptocurrencies when geopolitical uncertainty drops.
Signing is still pending, and the blockade remains
The source also makes clear that the naval blockade has not been lifted yet. It stays in place until the final agreement is officially signed, and no location or exact timing for that signing has been disclosed. The article notes that Iranian officials have previously pushed back on claims of final approval in sensitive matters, while nuclear policy and sanctions relief remain unresolved areas. Until the signing is public and official, the market is reacting to a framework rather than a completed settlement.