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Trump says Iran is open to negotiations to end the war as he extends the deadline to give diplomacy more time.

U.S. President Donald Trump said Monday that Iran is reportedly eager for a deal to end the ongoing war, while extending the deadline for Tehran to reopen the Strait of Hormuz by five days to allow for continued diplomacy.

Trump claimed that U.S. envoy Steve Witkoff and his son-in-law Jared Kushner had held talks with an Iranian leader, though Iran denied any negotiations. If a deal is reached, Trump said the U.S. would move to take control of Iran’s enriched uranium, central to its nuclear program.

The announcement helped ease oil prices and stabilize markets after a weekend of escalated threats between the U.S. and Iran that could have disrupted electricity and water supplies across the Gulf. Regional powers Turkey and Egypt have reportedly acted as intermediaries, facilitating communication between the warring sides.

Despite Trump’s warning of potential strikes on Iranian power plants, Iran’s state-affiliated media framed the president’s move as a retreat. Meanwhile, Israel continued airstrikes in Tehran and Lebanon, targeting infrastructure and Hezbollah positions. The conflict has killed thousands and displaced millions, raising fears of a broader regional crisis.

Trump stressed he has no immediate plans for ground forces in Iran but did not rule it out, while Israel indicated it could participate in further military action. The U.S., Turkey, and Egypt continue diplomatic efforts to prevent further escalation and avert an energy catastrophe in the region.