Mixed signals on US-Iran deal as Trump pauses strikes and LNG tankers cross Hormuz

The US held off on the fresh round of attacks it had threatened to launch against Iran after reportedly reaching a peace deal, although Iran denies that the two sides have reached an agreement. “We have a deal that Iran will never have a nuclear weapon,” US President Donald Trump told reporters yesterday, claiming that the agreement will be signed within days. Trump also claims that “all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others” have agreed to the deal.

Iran didn’t quite get the memo: Tehran denies having reached a final agreement, as its Foreign Ministry spokesperson said that Tehran has “red lines” it wouldn’t compromise on, even as large portions of the agreement were finalized.

The alleged peace agreement comes as the UAE and Iran reportedly met face-to-face for the first time since the war broke out, as both countries look to protect their economic interests. The meeting is a shift from Abu Dhabi’s previous hawkish position against Iran and towards a diplomatic path to resolving the tensions. The UAE has borne the brunt of Iran’s attacks in the region since the end of February, but was ostensibly absent from the targets in the latest wave of strikes earlier this week.

Amid the back-and-forth on a peace deal that may or may not exist in full, three LNG tankers appear to have passed through the Strait of Hormuz yesterday. The tankers, two of which are controlled by QatarEnergy and one of which belongs to Adnoc, are Asia-bound.