DUBAI — The United States has postponed potential military strikes on Iranian power plants for five days, as President Donald Trump extended a key deadline for Iran to reopen the vital Strait of Hormuz to global shipping amid escalating tensions in the Middle East.
The announcement came just hours before Trump’s original deadline, offering a temporary reprieve in a conflict that has already triggered global economic shockwaves. Trump said ongoing discussions between the two sides have been “very good and productive” and could lead to a “complete and total resolution,” though details of any negotiations remain unclear.
Iran, however, has denied that formal talks are taking place, even as state media portrayed the delay as a sign of U.S. retreat following Tehran’s warnings of retaliation.
The Strait of Hormuz, through which roughly one-fifth of the world’s oil supply passes, remains at the centre of the crisis. Iran has effectively restricted access to the waterway for the United States and its allies in response to ongoing U.S. and Israeli military actions, sending oil prices soaring and disrupting global supply chains.
The conflict, now in its fourth week, has significantly escalated, with attacks on energy infrastructure across the Gulf region, including oil and gas facilities in Qatar and Saudi Arabia. The situation has driven oil prices up by more than 50 per cent since the war began, intensifying inflationary pressures worldwide.
Iran has warned that any further escalation, including strikes on its power plants, would trigger widespread retaliation targeting energy infrastructure across the Middle East. Officials have also threatened to mine the Persian Gulf, a move that could severely disrupt global shipping routes and prolong the crisis even after hostilities end.
Meanwhile, U.S. military deployments in the region continue to increase, with additional naval assets and personnel being sent to bolster operations. Despite this, Trump indicated that military action remains conditional on the outcome of ongoing discussions.
The broader conflict has already resulted in significant casualties, with thousands reported killed across Iran, Israel, Lebanon and other affected areas. Key infrastructure has been damaged, and fears are growing over the potential humanitarian and environmental consequences of further escalation, particularly if energy or nuclear facilities are targeted.
Global leaders and international organizations have called for immediate de-escalation, warning that the crisis could have long-term impacts on global energy markets, food prices and economic stability.
With tensions still high and negotiations uncertain, the next five days are expected to be critical in determining whether the situation moves toward resolution or further conflict.