President Donald Trump announced Thursday that he has canceled planned strikes against Iran, declaring that a deal to end the conflict has been approved by all parties and is awaiting finalization.

“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, cancelled the scheduled strikes and bombings against Iran this evening,” Trump wrote on Truth Social.

Trump said the “discussions and final points” had been approved “in both concept and great detail” by all parties involved, including the United States, Israel, Saudi Arabia, the United Arab Emirates, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others.

“The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly,” Trump added.

The announcement marked a dramatic shift from Trump’s posture earlier Thursday, when he warned the United States would strike Iran “VERY HARD TONIGHT” and raised the prospect of seizing Kharg Island, the strategic Persian Gulf terminal that handles the overwhelming majority of Iran’s oil exports.

“The United States will be hitting Iran (whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT,” Trump wrote earlier Thursday.

He added that the United States would eventually take “Kharg Island, and other oil infrastructure points,” and “assume total control of their Oil and Gas Markets.”

Trump’s reversal came after two consecutive nights of U.S. military strikes on Iranian targets and amid an intensified diplomatic effort involving regional mediators and several U.S. allies.

On Wednesday night, U.S. Central Command (CENTCOM) announced that American forces had carried out additional strikes targeting Iranian military surveillance capabilities, communications systems, and air-defense sites. CENTCOM said the operation was conducted at Trump’s direction and was intended as a response to what it described as Iran’s “unwarranted and continued aggression.”

The apparent breakthrough followed negotiations that continued late Wednesday in Tehran between Qatari mediators and Iranian officials.

According to Axios, Qatari envoy Ali Al-Thawadi and Iranian Foreign Minister Abbas Araghchi worked through the night to bridge the remaining gaps between Washington and Tehran. The outlet reported that negotiators believed they had reached an agreed-upon text that all sides could accept.

Axios reported that the remaining disputes centered on the mechanism for releasing frozen Iranian assets, arrangements for reopening the Strait of Hormuz during a proposed 60-day ceasefire period, and the framework for negotiations over Iran’s nuclear program during that period.

The outlet further reported that Iranian officials informed several countries Thursday that an agreement in principle had been reached, though Supreme Leader Mojtaba Khamenei still needed to give final approval.

Trump’s announcement suggests that approval has now been secured, though Tehran has not immediately issued a public statement confirming the president’s claim.

If finalized, the agreement would represent the most significant diplomatic breakthrough since the conflict began, while preserving the U.S. naval blockade until the terms of the deal are formally signed and implemented.