US President Donald Trump said Tuesday evening he was pausing the American effort to guide stranded vessels out of the Strait of Hormuz to allow time for a deal to end the Iran war, while insisting the US blockade of Iranian ports would remain in place.

“We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom… will be paused for a short period of time to see whether or not the Agreement can be finalized and signed,” Trump wrote on social media, referring to the naval escort operation.

He said the move was “based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran, and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran.”

Following Trump’s post, Brent crude oil futures LCOc1 fell 1.2%, to $108.60 a barrel, after dropping 4% in the previous session. US West Texas Intermediate futures CLc1 eased 1.2% to $101.06 a barrel, after settling down 3.9% the day before.

The White House did not immediately reply to a request for comment on what progress had been made or how long the pause would last.

Trump’s halting of the escort operation in the strait came amid reports that he had been poised to renew attacks on Iran days earlier, but instead chose to pursue diplomacy.

After the conflict began on February 28 with joint US-Israeli strikes, Iran effectively sealed off the strait by threatening to deploy mines, drones, missiles, and fast-attack craft, thus blocking about 20 percent of world oil supplies and igniting a global energy crisis.........

© The Times of Israel