by Sharon Rondeau
(Jun. 11, 2026) — In a direct turnabout from an earlier declaration, at 1:28 p.m. EDT Thursday President Donald Trump announced on Truth Social that he has “cancelled the scheduled strikes and bombings against Iran this evening.”
“Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others,” Trump expounded.
On Thursday morning Trump said the U.S. would take control of Iran’s Kharg Island, a key oil-export depot, and “assume total control” of the country’s oil and gas markets” after massive military strikes against the country he considers to be a major menace to the Middle East and the world.
“The Naval Blockade” imposed on April 13, Trump further wrote, referring to the Strait of Hormuz, “will remain in full force and effect until this Transaction is finalized— Time and place of the signing to be announced shortly.”
Upon learning of the new announcement, oil markets reacted with a drop in the price per barrel of oil from $90 Thursday morning to between $86.00 and $87.00.
Since a fragile ceasefire went into effect on April 8, Trump has demanded that Iran agree not to develop or possess a nuclear weapon and has on several occasions claimed the rogue nation and the U.S. were close to making the elusive “deal.”