Trump says holding off on new Iran strikes after Gulf appeal

U.S. President Donald Trump speaks to reporters onboard Air Force One after his departure from Beijing Capital Airport on May 15, 2026, on his way back to the United States. Photo by BRENDAN SMIALOWSKI /AFP via Getty Images

Article content

President Donald Trump said he’d called off a strike on Iran planned for Tuesday after an appeal by the leaders of Persian Gulf allies, who called for more time to pursue a diplomatic resolution.

Article content

Trump said in a social media post that leaders of Saudi Arabia, Qatar and the United Arab Emirates asked “to hold off on our planned Military attack of the Islamic Republic of Iran, which was scheduled for tomorrow, in that serious negotiations are now taking place.”

Article content

Article content

Article content

Article content

The president has repeatedly threatened renewed military action against Iran without following through. There was no immediate confirmation from Tehran of renewed talks. Trump said the US is prepared to attack if an acceptable deal isn’t reached but didn’t set a deadline.

Article content

Article content

His post was the latest indication of the bind he’s in with the war, where Tehran has taken a hard line in the absence of credible threats of renewed attacks by the US. But escalation would bring further increases in oil prices, something the White House has so far been unwilling to risk.

Article content

Oil erased much of the day’s gains after Trump’s latest comments. Treasury yields also declined and stocks pared losses.

Article content

Earlier Monday, both sides said they’d rejected fresh proposals as insufficient to secure an agreement.

Article content

Fishing boats sit idle on May 17, 2026 along the Strait of Hormuz in, on Qeshm Island, Iran. Photo by Majid Saeedi /Getty Images

Article content

The White House said a proposal delivered by Iran through Pakistani mediators on Sunday lacked meaningful improvement, failing to offer detailed commitments on the surrender of the Islamic Republic’s stockpile of highly enriched uranium and the suspension of further enrichment, Axios reported, citing a senior US official and a person briefed on the issue.

Article content

Article content

Iran, meanwhile, indicated that US demands remain unacceptable. Tehran has refused to budge on some of its key positions and insisted that its frozen assets be returned and compensation for the war paid.

Article content

Article content

With crucial oil exports from the Persian Gulf all but cut off amid the war, Trump has been pushing Iran to make a deal or face a resumption of strikes. Iran has vowed to fight back. Earlier Monday, the UAE reported a drone struck near a major nuclear power plant.

Article content

Iran’s semi-official Tasnim news agency said earlier the US had offered to lift sanctions on the sale of Iranian oil until a final deal was reached, as part of a new draft proposal. A US official who refused to be named due to the sensitivity of the matter said the story was false, but didn’t elaborate.

Article content

Commuters walk past a large tiled image of Iran’s current leader Ayatollah Mojtaba Khamenei, as they enter and leave the metro station in Tehran on May 9, 2026. Photo by ATTA KENARE /AFP via Getty Images

Article content

According to Tasnim, Iran said Washington’s demands were still excessive and that it would not agree to end the war at the expense of its nuclear program.

Article content

High oil prices have added to pressure on the Trump administration. Monday, the Treasury Department said it’s extending a sanctions waiver to allow sales of Russian oil for another 30 days.