Trump calls off new Iran strikes, says settlement near

Thursday, June 11, 2026Confirmed

Politics Desk

What we know

President Donald Trump said Thursday he had cancelled scheduled U.S. military strikes on Iran, claiming a breakthrough in negotiations hours after threatening to hit the Islamic Republic “VERY HARD TONIGHT” and seize control of its oil and gas industries. In an Oval Office appearance he said the United States had “just made a great settlement of the war with Iran,” subject to finalization of documents, and that a signing could come over the weekend in Europe.

Iranian officials pushed back. Foreign Ministry spokesperson Esmail Baghaei said reports of a completed agreement were speculative and that nothing had been finalized, while state media framed Washington as accepting Iranian language. Markets moved sharply on Trump’s comments: U.S. equities rose and crude prices fell even as the U.S. naval blockade of Iranian ports remained in force pending any deal.

What's confirmed

Trump: cancelled Thursday evening strikes; claimed “great settlement” subject to document finalization; signing possibly weekend in Europe (AP/Reuters/CNBC).
Earlier Thursday: Truth Social threat to hit Iran “VERY HARD TONIGHT” and take total control of oil/gas; later said high-level talks “approved” (AP/CNBC).
Iran MFA Baghaei: deal reports speculative; nothing finalized (BBC/Reuters).
Blockade stays until transaction finalized per Trump; stocks rose and oil fell on the announcement (Reuters/CNBC).

What's still developing

Whether a memorandum of understanding is signed this weekend and who signs for each side.
How Hormuz reopen and blockade-lift language survives Tehran’s red lines.
Risk of renewed strikes if talks stall again after this week’s exchanges.

Sources

AP News — Trump calls off latest threats to strike Iran, citing breakthrough in talks link
Reuters — Iran says no final decision on deal Trump hopes could be signed soon link
BBC News — Trump claims Iran deal near as Tehran says nothing finalised link
CNBC — Trump: Iran war settled subject to finalization; signing in days link