Trump Announces Pause of So-Called Project Freedom Operation in Strait of Hormuz

President Trump announced a pause in the ‘Freedom Operation’ in the Strait of Hormuz, citing ‘great progress’ toward a ‘complete and final agreement’ with Iran. The U.S. indicated that the offensive phase of the U.S.-Israeli conflict against Iran is over, while Iran dismissed U.S. demands as ‘impossible.’ This announcement led to a plunge in oil prices amid speculation of a potential deal.