Trump “Debunks Rumors”? Says He Won’t Attack Iran Before Election; Iranian Foreign Minister Says Negotiations Held Through Mediators
On the US side, Trump stated that productive talks are ongoing with Iran, and that there will be no attack on Iran before the US midterm elections on November 3. The news pushed US Treasury yields lower, while crude oil gave back part of its gains, and gold quickly turned higher. The US has imposed a new round of sanctions on Iran, targeting 17 vessels transporting Iranian crude oil and petrochemical products. On the Iranian side, the Iranian Foreign Minister said that Iran has listened to the US response regarding the "seven-day plan" and will reply within a few days. The commander of the Islamic Revolutionary Guard Corps of Iran stated that they are ready at any time to deliver a devastating response to the enemy, and that the Strait of Hormuz is Iran's strategic red line.
The tensions between the US and Iran have shown subtle signs of easing, but military and diplomatic maneuvering between the two sides continues in tandem.
According to Xinhua News Agency, US President Trump posted on social media on the 8th, stating that the US and Iran are holding "productive" consultations and that the US will not attack Iran before the midterm elections. Prior to Trump’s post, US media reported Wednesday night Eastern Time that Trump was considering launching a new strike against Iran before the midterms.
The market reacted swiftly to the news: the 10-year US Treasury yield fell more than 3 basis points in the short term and was down nearly 5 basis points to 5.229% at press time; Brent crude fell by $1.75 per barrel in just 5 minutes to $103.71 per barrel; spot gold rose by $10.81 per ounce in 5 minutes to $4121.99 per ounce.
Meanwhile, the US has imposed a new round of sanctions on Iran, targeting 17 ships transporting Iranian crude oil and petrochemical products, further increasing the pressure of the blockade.
The Iranian Foreign Minister said that the two sides continue to exchange information via mediators, “Iran has put forward the ‘Seven-Day Plan’ and also heard the US response. A reply will be given in the next few days.” The commander of the Islamic Revolutionary Guard Corps stated, they are ready at any time to deliver a devastating counterattack to the enemy, and the Strait of Hormuz is Iran’s strategic red line.
According to Xinhua News Agency, Yemen's Houthi forces claimed to have attacked Saudi Riyadh airport again. On the 8th, the Yemeni Houthis said that they used ballistic missiles for the second time that day to strike King Khalid International Airport in Riyadh, Saudi Arabia, and warned personnel to stay away from Saudi oil facilities they consider “targets.”
Trump Says No Attack on Iran Before US Midterm Elections
According to Xinhua News Agency, Trump stated in his post on the 8th that despite Iran's economic and military situation being “very bad,” and although the US will continue the blockade and large amounts of oil are being transported through the Strait of Hormuz, “at any time before the US midterm elections on November 3, we will not launch an attack against Iran.”
Axios News reported on the 7th, citing multiple US officials, that the US Department of Defense had recently instructed CENTCOM to complete preparations for the resumption of large-scale military operations against Iran within a few days.
The report said that the instruction did not specify a date for a strike, and Trump had not made a final decision. But citing sources in the US and Israel, the report indicated that related military operations could be launched before the US midterms, or possibly before Israel’s Knesset elections at the end of October.
US Imposes New Round of Sanctions on Iran
According to CCTV News, on October 8 local time, a statement on the US Treasury Department’s website revealed that the US imposed a new round of sanctions on Iran, targeting 17 ships transporting Iranian crude oil, oil products, and petrochemical goods.
An official from the Treasury Department also said that, outside the scope of the US blockade on Iranian ports, approximately 20 million barrels of Iranian crude oil remain stranded on ships.
An official stated that due to the US blockade and sanctions, Iran has already stopped the loading and unloading of crude oil ships.
Iranian Foreign Minister Says Indirect Negotiations with US Continue via Mediators
According to Xinhua News Agency citing Iran's Tasnim News Agency on the 8th, Iranian Foreign Minister Araghchi said that Iran and the US are continuing their indirect negotiations through mediators.
In an interview, Araghchi said that the two sides continue to exchange information via mediators. “Iran has put forward its own proposal, the so-called ‘Seven-Day Plan,’ and has also listened to the US response.”
Araghchi also said that Iran is assessing the US response to the “reopen the Strait of Hormuz within seven days” proposal, and will respond within several days.
Araghchi had previously stated that Iran had conveyed a plan to reopen the Strait of Hormuz to the US via Qatar. If the US takes the necessary action according to this plan, the Strait of Hormuz can be reopened within seven days and normal maritime transport can resume.
Commander of Iran's Islamic Revolutionary Guard Corps: Ready to Deliver Devastating Counterattack to the Enemy at Any Time
According to CCTV News, on the 8th local time, Commander of the Islamic Revolutionary Guard Corps Vahidi said that no external force has the authority to threaten, seize, or interfere in the Persian Gulf and the Strait of Hormuz.
The Strait of Hormuz is a key energy artery of the world and Iran’s strategic red line. To defend it is to defend Iran's national interests, national security, and dignity.
Former US Government Official: Escalating Military Action Against Iran After Midterms Makes More Sense
Amos Hochstein, who served as a White House energy adviser in the Biden Administration, said on Thursday that escalating military action against Iran after the November midterm elections “makes more sense” than before the midterms.
Hochstein previously served as President Biden’s Special Coordinator for Global Infrastructure and Energy Security. He stated:
"The midterm elections largely reflect the president's weakened support due to the war; escalating further on this weakness leaves me somewhat dubious.”
Earlier reports said that the White House had asked the Pentagon to draft plans for strikes against Iran, with related action potentially being carried out before the midterm elections.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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