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President Trump said Thursday that he had canceled planned strikes on Iran after claiming Tehran’s leadership approved a settlement to end the war.

Getting into it: Speaking in the Oval Office and later on Truth Social, Trump announced a “great settlement,” saying Iran’s leadership, including Supreme Leader Mojtaba Khamenei, had approved a draft memorandum of understanding to reopen the Strait of Hormuz and launch negotiations over the country’s nuclear program. He said Iran had agreed it would never have a nuclear weapon and that a signing could come in Europe this weekend, with Vice President JD Vance representing the United States.

The announcement marked a sharp reversal. Hours earlier on Thursday, Trump had threatened to hit Iran “VERY HARD” and vowed to have US forces seize Kharg Island, the country’s main oil-export hub, in what amounted to a third straight day of threatened-then-canceled strikes.

Iran, however, did not confirm any deal. Its semi-official Fars news agency, citing a source close to the negotiating team, said no text for a preliminary memorandum had been approved, while Foreign Ministry spokesman Esmail Baghaei said any agreement was not finalized and accused the US of “changing their positions.”

Hardliners in Tehran went further, with senior lawmaker Ebrahim Rezaei warning that “the probability of deception by Trump is high” and arguing the president merely wanted to keep things calm for now, while urging Iran to strike harder rather than negotiate.

This all comes after days of escalation, with Iran’s Revolutionary Guard saying it had struck US military assets in Bahrain, Kuwait and Jordan in retaliation for American strikes and declaring the Strait of Hormuz fully closed.