Trump raises hopes for war to wind down but no sign of reduced fighting

Hopes rose that the Iran war could begin winding down as US President Donald Trump claimed that his government was holding productive talks with Tehran, but fighting showed no signs of slowing and Iran denied there were talks.

Trump extended his deadline for Iran to reopen the Strait of Hormuz on Monday, saying the US will hold off striking Iranian power plants for five more days to allow US envoys to hold talks with a “respected” Iranian leader.

Iranian officials said that the American leader had backed down “following Iran’s firm warning”. Relief ripped through financial markets Monday as oil prices eased following severe losses prior to Trump’s announcement. Markets have experienced vicious swings up and down since the war began because of uncertainty about how long it may last. The death toll has risen to more than 1,500 people in Iran, more than 1,000 in Lebanon, 15 in Israel and 13 US military members, as well as a number of civilians on land and sea in the Gulf region. Millions of people in Lebanon and Iran have been displaced. 

Iran’s Foreign Minister Abbas Araghchi, since Monday, has been talking with his counterparts in Azerbaijan, Egypt, Oman, Pakistan, Russia, South Korea, Turkey and Turkmenistan, his office confirmed.