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Trump says US, Iran agree to continue talks but ceasefire over - Headlines news and analysis from Global Banking & Finance Review
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Trump says US, Iran agree to continue talks but ceasefire over

Published by Global Banking & Finance Review

Posted on July 11, 2026

5 min read

· Last updated: July 11, 2026

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US seeks free Hormuz access from Iran as talks focus on strait

By Parisa Hafezi and Steve Holland

US-Iran Negotiations and Strait of Hormuz Security

Diplomatic Efforts and Mediation

DUBAI/WASHINGTON, July 11 (Reuters) - Iran's Foreign Minister Abbas Araqchi and his Omani counterpart on Saturday discussed arrangements for the safe passage of ships through the Strait of Hormuz, as Washington seeks a public pledge of free, secure transit.

U.S. President Donald Trump said on Friday the U.S. and Iran had agreed to continue talks despite an escalation of hostilities this week, while also declaring an end to the ceasefire between the two countries. 

No attacks were reported on Friday or Saturday, however. A senior Iranian source told Reuters that Iran, the U.S., Qatar, and Pakistan had agreed to negotiate in a call that mediators were trying to arrange for Saturday while Araqchi is in Oman. 

Safe Passage and Ceasefire Arrangements

It was not immediately clear whether the efforts were successful, but Araqchi and Omani Foreign Minister Sayyid Badr Albusaidi "exchanged views on appropriate mechanisms for the safe passage of ships through the Strait of Hormuz," in accordance with the ceasefire deal, according to a statement from the Iranian foreign minister.

Oman's state news agency later said that Omani and Iranian negotiators would continue talks "at the technical and political levels." 

Impact on Global Oil and Energy Markets

Oman is helping to mediate an end to a war that has destabilised the Gulf and raised prices around the world since the U.S. and Israel launched airstrikes on Iran on February 28.

About a fifth of the world's oil supply transited through the Strait of Hormuz before the war, and Iran's effective blockade of the waterway has caused energy prices to surge, fuelling global inflation.   

US Demands and Navigation Proposals

The United States is demanding that Iran publicly state it will stop attacks on ships in the strait — and that all lanes will be open with no tolls through the waterway, senior U.S. officials told reporters on Friday.

CNN reported on Saturday that Oman made a draft proposal for the strait, including free navigation through its southern corridor in Omani territorial waters. The plan called for vessels transiting the northern corridor through Iranian territorial waters to obtain prior approval from Iran, although no tolls would be imposed, CNN said.

The White House and State Department did not immediately respond to requests for comment on the CNN report.

Recent Incidents and Ceasefire Violations

Qatari Mediators and Ship Attacks

QATARI MEDIATORS HELD TALKS IN TEHRAN ON FRIDAY

Three Qatari and Saudi commercial tankers came under fire earlier in the week, prompting the U.S. to hit Iranian sites, and Iran to respond with strikes on U.S. military sites in Gulf states.

Araqchi accused the United States of violating the ceasefire agreement; the U.S. revoked the license authorizing the sale of Iranian crude on Tuesday after the vessels were hit.

"There can only be mutual compliance," Araqchi wrote on X.

Negotiation Tactics and Tensions

While Iran has not claimed responsibility for the ship attacks, analysts say Tehran uses such actions to gain leverage in negotiations.

The senior U.S. officials told reporters on Friday that Iran had informed U.S. officials that recent attacks on shipping in the strait were from an "errant part of their system", comments that appeared to be aimed at calming tensions.

The flare-up cast further doubt over the future of an interim agreement aimed at ending the conflict and pushed oil prices higher, a politically sensitive issue for Trump ahead of November congressional elections.

"The Islamic Republic of Iran has asked us to continue 'talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!" Trump posted on his Truth Social platform on Friday.

Iranian Leadership and Threats of Retaliation

Supreme Leader's Death and Vengeance

IRAN THREATENS TO AVENGE SUPREME LEADER'S KILLING

A written statement from Iran's new supreme leader, Ayatollah Mojtaba Khamenei, on Saturday threatened vengeance for the death of his predecessor and father, who was killed on February 28.

Released to mark funeral ceremonies for former leader Ayatollah Ali Khamenei on Thursday, which the new leader did not attend, it said the vengeance would take place whatever happened to Iran.

"We pledge to avenge the blood of the martyred leader and all the martyrs," the message said. 

US Response and Security Concerns

Trump had posted on Friday that he had ordered the U.S. military to be prepared to launch thousands of missiles against Iran if Tehran attempted to assassinate him.

The Wall Street Journal and other U.S. media reported this week that Israel had shared intelligence with Washington that Iran had recently devised a plan to assassinate Trump.

At the funeral ceremonies on Thursday, a huge crowd of mourners packed a courtyard, some bearing banners reading, "We Will Kill Trump." 

(Additional reporting by Enas Alashray, Ahmed Elimam, Eman Abouhassira and Andrew Mills; Writing by Kim Coghill, Tom Perry Philippa Fletcher and Alexandra Alper; Editing by William Mallard, Aidan Lewis and Sergio Non)

Key Takeaways

  • Trump declared the June ceasefire with Iran ended, yet said talks would carry on — signaling diplomatic persistence amid escalating rhetoric. (axios.com)
  • The U.S. beefed up demands for Iran to publicly guarantee safe, toll‑free passage through the Strait of Hormuz — a vital oil artery — as hostilities have caused oil prices to spike. (apnews.com)
  • Regional mediators, especially from Qatar and Oman, are actively trying to de‑escalate the situation, coordinating talks as military strikes and retaliatory actions continue. (axios.com)

References

Frequently Asked Questions

What did Trump announce about US-Iran talks?
Trump stated that the US and Iran had agreed to continue negotiations, though the previous ceasefire is now over.
Why are oil prices rising amid US-Iran tensions?
Recent attacks on ships in the Strait of Hormuz and renewed conflict have pushed oil prices higher due to shipping risks.
What are US demands regarding the Strait of Hormuz?
The US demands that Iran stop attacking ships and ensure all shipping lanes remain open without tolls.
What military threats did Trump make against Iran?
Trump said he ordered the US military to be ready for attacks if Iran attempts to assassinate him, with missiles prepared to strike Iran.
What role is Qatar playing in the US-Iran situation?
Qatari mediators are meeting with Iranian officials to try to de-escalate tensions and discuss safe passage in the Strait of Hormuz.

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