President Trump announced on Monday that he was calling off a planned U.S.military attack on Iran, originally scheduled for Tuesday, citing ongoing 'serious negotiations' toward a peace deal.The announcement follows Iran submitting another set of amended terms, though the country has yet to discuss nuclear matters.Trump has repeatedly set deadlines for Iran to meet U.S.demands, including halting its nuclear program, missile development, and support for regional proxies, but Iran has remained firm in its positions.The White House emphasized that nothing has changed regarding U.S.expectations and red lines, particularly the renunciation of Iran's nuclear ambitions.

The conflict has caused significant volatility in oil and stock markets, with Brent crude prices fluctuating between $107 and $112 per barrel, and global indices experiencing sharp swings.U.S.forces continue to enforce a blockade on Iranian ports, redirecting numerous commercial vessels, while Iran has hinted at tighter control over fiber optic cables in the Strait of Hormuz.Despite heavy casualties and economic hardship, Iranian officials assert the country remains capable of defending its rights.

The temporary suspension of Russian oil sanctions during negotiations and statements from regional allies influenced Trump’s decision to delay strikes, though he warned that a full-scale assault could happen 'on a moment's notice' if an acceptable deal is not reached.