Trump backs down on strikes against Iran's power network, says talks underway

WASHINGTON: United States President Donald Trump on Monday retreated from his earlier threat to target Iran's power network, announcing that Washington and Tehran have been engaged in constructive dialogue and that he would postpone any military strikes on power plants and energy infrastructure.

Trump announces five-day postponement

In a post on his Truth Social platform, Trump stated that the US and Iran "have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East."

"I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of the ongoing meetings."

Trump added that conversations with Iran would continue throughout the week, signalling a potential de-escalation of tensions between the two nations.

Iran's threats preceded the reversal

The US president's decision to step back came after Iran threatened to attack Israel's power plants as well as those supplying US military bases across the Gulf region if Washington proceeded with targeting Iran's power network. The Iranian warnings appeared to have played a role in prompting the shift in Trump's stance.

Markets react sharply

Financial markets responded swiftly to Trump's announcement. The dollar plunged while stocks surged following his social media post, reflecting investor relief at the prospect of reduced military tensions in the Middle East.

The developments mark a notable shift in the trajectory of US-Iran relations, which had appeared to be heading towards a potential military confrontation. Trump's reference to seeking a "complete and total resolution" of hostilities suggests that the scope of the ongoing discussions extends beyond the immediate issue of strikes on Iran's energy infrastructure.

The five-day window announced by Trump is conditional on the progress of what he described as ongoing meetings and discussions, leaving open the possibility that military action could resume if talks falter. The coming days are expected to be closely watched by regional and international stakeholders as the two sides continue their engagement.