DUBAI, United Arab Emirates (AP) — President Donald Trump on Monday extended his deadline for Iran to reopen the crucial Strait of Hormuz to international shipping, saying the U.S. would hold off on strikes against Iranian power plants for five days.

Shortly after Trump made the announcement on his Truth Social site, Iranian state television put up a graphic that read: “U.S. president backs down following Iran’s firm warning.” The reprieve came hours ahead of Trump’s self-imposed deadline later in the day.

Writing in all capital letters, Trump said the U.S. and Iran have had “very good and productive conversations” that could yield “a complete and total resolution” in the war. Talks would continue “throughout the week,” he said.

Trump added that the suspension of his threat to attack power plants was “subject to the success of the ongoing meetings and discussions.”

Trump did not elaborate on the negotiations that had taken place, and the state-owned IRAN newspaper said Iran’s Foreign Ministry denied that any negotiations have taken place with U.S.

Earlier, Iranian Foreign Minister Abbas Araghchi said he spoke by phone with his Turkish counterpart, Hakan Fidan. Turkey has been an intermediary before in negotiations between Tehran and Washington.

Trump’s announcement came as the United Arab Emirates reported its air defense were attempting to intercept new incoming Iranian fire Monday afternoon.

Earlier Monday, Iran warned it would strike electricity plants across the Middle East and mine the Persian Gulf after Trump threatened to bomb power stations in the Islamic Republic if it did not reopen the strait.

The war, now in its fourth week, has already seen several dramatic turning points — the killing of Iran’s supreme leader, the bombing of a key Iranian gas field, and strikes targeting oil and gas facilities and other civilian infrastructure in Gulf Arab nations. The conflict has killed more than 2,000 people, shaken the global economy, sent oil prices surging, and endangered some of the world’s busiest air corridors.

Trump’s ultimatum and Iran’s promise of retaliation threatened to raise the stakes yet again, with potentially catastrophic repercussions for civilians across the region.

If carried out, the attacks could cut electricity to wide swaths of people in Iran and around the Gulf and knock out desalination plants that provide many desert nations with drinking water. There are also increasing concerns about the consequences any of strikes on nuclear facilities.

The fever pitch of the rhetoric shows how the war has spiraled to a point unimaginable at the start of the conflict on Feb. 28, when the United States and Israel began bombing Iran.