Trump threatens Iran with more attacks
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The president cited developments in negotiations as the reason for pausing "Project Freedom." Iran did not immediately confirm progress in talks.
It's the second time the Navy has used force against an Iranian commercial vessel since the Trump administration's blockade began last month.
The price of oil plunged and markets surged early Wednesday after a new report that the U.S. believed it was nearing a deal to end the war with Iran and eventually reopen the Strait of Hormuz.
Hegseth said the ceasefire with Iran "certainly holds" for now after a naval clash between Iranian and U.S. forces and renewed attacks on the UAE.
9hon MSN
US ‘locked and loaded’ for ‘much higher’ strikes if Iran talks fail as Trump pauses Hormuz ops
Despite over ten attacks on U.S. forces and nine on commercial ships since April 7, officials say the Iran ceasefire remains intact for now.
The Pentagon said the Iran war cost $25 billion for roughly two months of spending. Battle damage could net much more.
The White House reportedly believes it could be closing in on a 14-point memorandum of understanding with Iran.
President Donald Trump said Project Freedom will be paused in the Strait of Hormuz as "Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran."