Trump puts hold to 'Project Freedom', citing deal progress, request from Pakistan

Shortly after Trump's post, ​US crude oil futures fell $2.30 and broke below $100 per barrel

US President Donald Trump speaks at the Forum Club of the Palm Beaches in Florida about the recent interception, boarding, and seizure of Iranian cargo ships and oil tankers by the US Navy. PHOTO: SCREENGRAB

US President Donald Trump ​said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing "great progress" toward a comprehensive agreement with Iran as well as the "request of Pakistan and other Countries."

Hours earlier, US Secretary of State Marco Rubio had ‌outlined the effort that began on Monday to escort stranded tankers out of the Gulf. The strait has been virtually shut since the conflict began, blocking some 20% of world oil supplies and igniting a global energy crisis.

"Based on the request of Pakistan and other countries, the tremendous Military Success that we have had during the campaign...Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran." He wrote on Truth Social.

"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 finalised and signed."

Read: Trump presses Iran to 'wave white flag'

There was no immediate reaction from Tehran, where it was early on Wednesday morning.

Shortly after Trump's post, ​US crude oil futures fell $2.30 and broke below $100 per barrel, a much-watched threshold since the conflict sent energy prices soaring two months ago.

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.

Rubio and other senior administration officials said earlier on Tuesday that Iran could not be allowed to control traffic through the ⁠strait.

Iran has effectively sealed off the strait by threatening to deploy mines, drones, missiles and fast-attack craft. The United States has countered by blockading Iranian ports and mounting escorted transits for commercial vessels.

The US military said on Monday it had destroyed ​several Iranian small boats, as well as cruise missiles and drones.

Pakistani mediation efforts continue

The war has killed thousands of civilians in Iran and Lebanon and has spread to the rest of the Gulf, ⁠roiling the global economy. The head of the International Monetary Fund said on Tuesday that even if the conflict ended immediately, it would take three to four months to deal with the consequences.

Rubio said 10 civilian sailors were among those who had died in the conflict, adding that crew on vessels stranded in the waterway were "starving" and "isolated."

Trump told reporters in the Oval ​Office that Iran's military had been reduced to firing "peashooters" and Tehran wanted peace, despite public posturing.

The conflict is also pressuring Trump's administration ahead of crucial midterm elections in November, ​as rising gas prices hit voters' ⁠pockets.

Read more: UAE says air defences 'actively engaging' missiles, drones coming from Iran

Trump has said the US-Israeli attacks aimed to eliminate what he claimed were "imminent threats from Iran", citing its nuclear and ballistic missile programs and its support for Hamas and Hezbollah.

However, the first day of US-Israeli attacks in Iran landed on a girls' school in Minab, massacring around 110 children and 168 people in total.

Iran has called out the attacks as a violation of its sovereignty and said that it has the right to develop nuclear technology for peaceful purposes, including enrichment, as a party to the Nuclear Non-Proliferation Treaty.

Diplomatic efforts to end the conflict have yet to yield results. US and Iranian officials have held one round of face-to-face peace talks, but attempts to ⁠set up further ​meetings have failed.

Iranian Foreign Minister Abbas Araghchi has said that peace talks were still progressing with Pakistan's mediation.

He arrived in Beijing on Wednesday morning ​for talks with his Chinese counterpart on bilateral ties and regional and international developments, Iran's Press TV reported.

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