Trump Says U.S. Will Be 'Hitting Iran Very Hard Tonight,' Threatens to Take Over Oil Infrastructure – Time Magazine
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President Donald Trump in the Oval Office of the White House in Washington, D.C., on June 4, 2026.
President Donald Trump said he has canceled strikes planned against Iran on Thursday, citing progress in the peace deal negotiations.
"Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, canceled the scheduled strikes and bombings against Iran this evening," he said.
Trump added that "discussions and final points" have been approved by all parties involved, including the U.S., Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt.
The U.S. naval blockade of the Strait of Hormuz will remain in effect until after the deal is finalized, he said, with further details of the signing set to be "announced shortly."
Iranian officials have yet to comment on Trump's assertion that a long-awaited deal is imminent. Iran has also yet to publicly make any major concessions related to its nuclear capabilities, nor has it retreated on its ambition to manage naval navigation in the Strait of Hormuz.
Trump's course reversal came hours after he vowed to hit "Iran very hard tonight" and threatened to take control of the country’s oil infrastructure.
“At some point in the not too distant future, we will be taking Kharg Island and other oil infrastructure points, and assume total control of their oil and gas markets,” warned Trump, likening the plan to what the U.S. has done in Venezuela.
This isn't the first time Trump has singled out Kharg Island in the Persian Gulf, which serves as Iran’s main oil terminal. The U.S. bombed targets on the island in March to serve as a warning to Tehran, without striking the oil infrastructure.
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Tehran responded to Trump's earlier threats with strongly-worded cautions, advising against further strikes.
Iran's top joint military command warned “either oil and gas exports are for everyone or they will be available for no one,” in a statement carried by state media.
The command said any further strikes from the U.S. would receive a stronger response than before, leading to insecurity in the region.
Iran’s parliament speaker Mohammad Ghalibaf also said that any targeting of infrastructure would offset an “endless quagmire."
The prospect of a finalized agreement comes after two days of tit-for-tat strikes between Washington and Tehran in the Middle East region.
U.S. Central Command (CENTCOM) forces launched what it called “self-defense strikes” against Iran on Tuesday, after holding Tehran responsible for the downing of a U.S. Army helicopter over the Strait of Hormuz.
Iran retaliated with strikes targeting U.S. bases across Jordan and several Gulf nations, renewing concerns of instability in the region and testing the already fragile cease-fire.
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Hostilities continued to escalate into the early hours of Thursday morning, as Trump argued Tehran had “taken too long to negotiate a deal” and would “have to pay the price.”
Tehran’s Persian Gulf Strait Authority (PGSA) declared the "complete" closure of the Strait on Thursday, blaming "tensions caused by the aggressive U.S. forces."
CENTCOM issued a rebuttal, insisting that the "Strait of Hormuz remains open for transit." Trump has maintained that the U.S. blockade of Iranian ports in the Strait will continue until a peace deal is finalized.
The PGSA is a body Iran set up to manage requests for passage through the Strait, in an effort to maintain its sway over the vital waterway, through which around a fifth of global oil production flows.
Iran's continued choke hold on the transit of oil and gas has upended the global economy, causing major instability to energy prices and supply needs.
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Last month, the U.S. Treasury sanctioned the authority, stipulating that anyone cooperating with the body may be providing support to, and receiving services from, Iran's Islamic Revolutionary Guard Corps, "which ultimately benefits from this attempted extortion, and may therefore be exposed to sanctions risk."
Treasury Secretary Scott Bessent issued a follow-up warning Thursday, stating that any "tolls paid to the Persian Gulf Strait Authority will be offset by funds extracted from their accounts. Every attack Iran launches will only deepen the economic and financial consequences it faces."
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