A diplomatic window has suddenly opened in the Gulf crisis. President Donald Trump announced late Saturday that he would shelve a planned fresh attack on Iran, citing a request from Tehran and other Middle Eastern nations for time to finalize a deal. The agreement, as outlined by Trump, would require the immediate and complete reopening of the Strait of Hormuz and an end to Iran's nuclear threat. Trump's declaration on Truth Social marked a sharp reversal from his earlier threats, which had escalated following the February 28 strikes by US and Israeli forces. The president framed the pause as a global necessity, stating that Israel "joins me in this commitment," though no immediate public confirmation came from Jerusalem. Main Developments Iran's leadership moved quickly to consolidate its position. Foreign Minister Abbas Araqchi held separate phone calls Saturday with senior officials in Turkey, Pakistan, and Saudi Arabia, warning that any "aggression" would draw a decisive response. He also stressed the consequences of "destabilising actions" by the US and the risk of heightened regional insecurity, according to his Telegram account. Read also: BYD's Global Push: Why Exports Are Its New Engine To Riyadh, Araqchi delivered a starker message: any attack by the US or Israel, or participation by regional states, would be met with a "proportionate response." That warning came hours after Kuwait's army reported destroying hostile Iranian drones aimed at several vital facilities, with one government site and civilian property on Bubiyan Island sustaining shrapnel damage but no casualties. Saudi Arabia's crown prince, Mohammed bin Salman, spoke directly with Trump on Saturday. A US official told Axios that the crown prince "expressed concern and asked for clarity" about Washington's intentions toward Iran, while a White House official confirmed the call to Reuters without offering specifics. The threat of Iranian retaliation extended beyond military targets. Nournews, an outlet linked to Iran's top security body, warned that US strikes on Iranian energy infrastructure would trigger Iranian attacks on oil fields in Saudi Arabia and the UAE, as well as gas fields in Qatar and Israel, vowing that "all will be burned to ashes." Background The crisis traces back to February 28, when US and Israeli forces launched strikes on Iran, igniting a conflict that has kept oil markets on edge. Trump has consistently justified military action as necessary to prevent Iran from acquiring nuclear weapons, even as he acknowledged the economic toll of higher fuel costs. At a cabinet meeting Friday at Camp David, Trump expressed diminishing confidence in Tehran, remarking that "they break their word so often," a charge Iran has repeatedly leveled at Washington. Yet he also signaled that his negotiating team—including son-in-law Jared Kushner, special envoy Steve Witkoff, and Secretary of State Marco Rubio—might still secure a deal. The Strait of Hormuz, a critical conduit for global energy, has seen shipping traffic dwindle since the conflict began, deterred by the risk of Iranian attacks. Benchmark Brent crude futures jumped 24% in July, and analysts polled by Reuters expect further increases this year, sending shockwaves through the world economy. Why It Matters The stakes extend far beyond the immediate standoff. With Hormuz effectively closed to most carriers, global energy supplies remain vulnerable, and the economic pain is mounting. Trump has argued that near-term fuel costs are justified to keep Iran from going nuclear, but the political pressure to end the war is intensifying. Iran's Houthi allies in Yemen have added a second front, recently threatening the Bab el-Mandeb strait—the Red Sea passage opposite the Suez Canal and another route for Saudi crude. On Saturday, the UK Maritime Trade Operations reported two incidents off Oman, including a tanker struck by an unknown projectile that damaged its engine room; another vessel reported an explosion nearby without damage. The pause in hostilities, if it holds, could ease shipping fears and temper oil prices. But the fragility of the arrangement is clear: Iran has vowed to retaliate decisively against any "adventurous action," and the window for a deal is explicitly short. What's Next Trump has conditioned the cancellation of the attack on a "rapid" deal, leaving little time for diplomacy. His negotiators—Kushner, Witkoff, and Rubio—are expected to press Iran for concrete commitments, though no formal talks have been announced. Iran's calls with Oman and Saudi Arabia, as well as the crown prince's direct appeal to Trump, suggest regional mediation is underway. Whether Tehran will accept the terms—immediate, complete, and total reopening of Hormuz and an end to its nuclear program—remains an open question, as does Israel's stance despite its reported alignment with Trump's announcement.