President Donald Trump said Monday morning on Truth Social that Washington held “very good and productive” talks with Iran over the past two days and ordered a five-day postponement of planned strikes on Iranian energy infrastructure. The announcement came just hours before the U.S. deadline tied to Iran’s control of the Strait of Hormuz.

On Saturday, Trump issued a 48-hour ultimatum warning Iran to allow safe passage through the Strait of Hormuz or face attacks on its energy sector. Iranian officials responded Sunday with threats targeting Gulf shipping routes and regional energy infrastructure.

Trump wrote that the discussions were aimed at a “complete and total resolution of our hostilities in the Middle East,” adding that he had instructed the U.S. military to delay strikes “for a five day period,” contingent on continued progress.

Despite Trump’s claims, Iranian officials and state-linked media denied that any negotiations were taking place. Tehran described the move as a “retreat,” asserting Trump had “backed down” and was “buying time.” Ebrahim Rezaei, spokesperson for Iran’s National Security and Foreign Policy Commission, said, “The battle continues… and another defeat for the devil. Trump and the United States have once again been defeated.”

Minutes before the announcement, Oman’s Foreign Minister said the country is working to secure safe passage in the Strait of Hormuz, where it has previously mediated between Washington and Tehran. Markets reacted quickly, with oil prices falling about 8% and U.S. stock futures rising.