Trump says a deal exists on the Strait of Hormuz and nuclear talks with Iran begin Monday afternoon

US President Donald Trump told reporters on Sunday, 2 August 2026 (11 Mordad 1405), that "there is a deal" on the Strait of Hormuz, adding that negotiations with Iran over its nuclear programme will begin on Monday afternoon. The remarks were carried by Al Jazeera Arabic and relayed by Iranian business outlets including Eghtesad Online and Donya-e-Eqtesad.

Trump said he had been prepared to launch a large strike on Iran but that Saudi Arabia, the United Arab Emirates, Qatar and Iran itself had asked him to call it off. He added: "When allies ask you to cancel it, you have to say, well, let us see what happens. Our allies think there is a deal." Describing his conversation with the Saudi crown prince, Trump said the reply was "we prefer a deal, not a strike." Asked about a deadline for Iran, he said: "We will see. I am not looking to kill people."

Tehran has not confirmed the existence of any agreement with Washington on the strait. Iranian foreign ministry spokesman Esmaeil Baghaei said on Sunday, 11 Mordad, that an understanding with Oman on a new maritime route does not mean the Strait of Hormuz is reopening. For Iran's markets, the status of the strait and the course of negotiations feed simultaneously into the exchange rate, gold and global oil prices. In Tehran's open market on Sunday, 11 Mordad, the dollar was recorded about 1.4 percent lower at 191,000 tomans and a gram of 18 carat gold 2 percent lower at 18,330,000 tomans.