U.S. President Donald Trump said on Thursday that he intends to hold off on any renewed strikes on Iran until at least Election Day.
“We will not be attacking Iran at any time prior to the midterm elections to be held in the United States on Nov. 3,” the president wrote. “We are having productive discussions with the Islamic Republic of Iran.”
Several media outlets, including NBC and The Atlantic, reported in recent days that Trump was considering launching large-scale military operations against Iran before the elections.
The United States and Iran carried out negotiations mediated by Qatar during the U.N. General Assembly in New York in September. Qatar’s foreign ministry said on Tuesday that the talks are continuing.
Trump wrote on Thursday that Iran is in “very bad condition, both economically and militarily” and that the U.S. blockade of Iran “will remain in full force and effect.”
He touted improved shipping rates through the Strait of Hormuz and said that 22 million barrels of oil had transited the Strait overnight.
Oil prices have remained high despite recent U.S. successes in allowing oil to exit the Persian Gulf, in part due to the depletion of global stockpiles as a result of the war.
Exports of Middle East crude oil, excluding Iran, reportedly returned to nearly pre-war levels in September, but exports of refined products and other fossil fuels from the Gulf remain constrained.
“Before Trump’s war, 10 liquefied natural gas tankers moved through the Strait. Today it’s one or two,” Sen. Chris Murphy (D-Conn.) wrote after meeting with Qatar’s energy minister on Monday. “The cost of insuring a ship has gone from $100,000 a day to over $1 million. A disaster for the U.S. economy.”
High gas prices caused by the war have become a fixture of Democratic campaign ads during this election cycle. Trump has previously said he expects that Iran will make a deal to end the conflict shortly after Election Day.
