US and Iran agree to pause hostilities as talks scheduled in Doha
A senior US official said both sides will stand down for now after recent drone and missile exchanges, and diplomatic talks are set for Tuesday in Qatar.
A senior US administration official said on Sunday that the United States and Iran will temporarily stand down, allowing vessels to move freely through the Strait of Hormuz. The two countries are slated to meet in Doha, Qatar, on Tuesday for further discussions, according to another US official.
The official added that the wave of Iranian drones and missiles launched late Saturday did not strike any of their intended targets. The exchange of fire over the past several days has tested the fragile cease-fire agreement signed in mid-June.
Oil markets reacted modestly, with Brent crude up 0.9% to $72.20 a barrel and US crude rising 1.3% to $70.09 a barrel. Analysts note that lower prices depend on the restoration of safe shipping through the strait and repairs to damaged energy infrastructure, which could take months.
Iran’s foreign minister, Abbas Araghchi, warned that interference with Tehran’s management of the strait could raise tensions, while US Ambassador to the UN Mike Waltz said the United States will continue to target Iranian military infrastructure if it threatens shipping.
Regional states, including Bahrain and Kuwait, have condemned recent Iranian attacks on their territory. Iran’s Islamic Revolutionary Guard Corps said any breach of the cease-fire would suspend related diplomatic processes.
The situation remains volatile, with multiple routes now in use for commercial vessels navigating the strait, and both sides maintaining a cautious stance pending the upcoming talks.