Donald Trump pauses Iran strikes, proposes 5-day ceasefire amid conflicting talk claims

US President Donald Trump on Monday said he had put on hold any military strikes against Iran power plants for five days, ahead of a deadline that had threatened further escalation of the conflict.

However, Iran parliamentary speaker Mohammad Baqer Qalibaf, mooted to be representing his nation in contact with the US, posted on social media that no such talks had been held.

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Amid conflicting reports, European equities rallied but then lost steam. Brent crude dropped nearly 10% to $101/barrel. Wall Street was buoyant, up 1% in early trade.

Trump spoke of “very good and productive” conversations with Iran over the past two days about a “complete and total resolution of hostilities in the Middle East.” He claimed Tehran had agreed to eschew nuclear weapons. “We've eliminated everything there is to eliminate in Iran, including leaders,” he said, adding that talks were not with Ayatollah Mojtaba Khamenei.

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Turkey and Egypt are said to be mediating. However, the semi-official Fars news agency said Tehran hasn’t had “direct or indirect communication with Trump.”

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