US President Donald Trump has announced he is pausing a military operation to escort commercial ships through the Strait of Hormuz, citing progress toward a peace deal with Iran.

The move follows an appeal from Pakistan, which had urged restraint.

The operation, dubbed “Project Freedom,” lasted barely a day and a half before Iranian attacks threatened an already fragile ceasefire.

Is the Strait of Hormuz escort operation over?

The Strait of Hormuz escort operation has been paused, not ended. Trump said the suspension is temporary, intended to allow time for a deal with Iran to be finalized and signed. A blockade of Iranian ports, he added, will remain fully in place during this period.

Why did Trump pause Project Freedom?

Trump said “great progress has been made” toward a comprehensive agreement with Tehran. He framed the pause as a diplomatic gesture, stating the operation would be suspended “for a short period of time to see whether or not the Agreement can be finalized and signed.”

He also said he did not want to kill more Iranians, even as the ceasefire appeared close to collapse.

The announcement came hours after Secretary of State Marco Rubio said the US had completed its offensive operations against Iran. Rubio reserved the right to unleash a “devastating” response to any new attacks on shipping. He also accused Iran of “holding the world’s economy hostage” through threats to navigation and the laying of sea mines.

Rubio said Washington and Gulf allies had drafted a UN Security Council resolution demanding Iran halt attacks and disclose the location of mines. The proposed measure would also require Tehran to end efforts to charge tolls in the strait and support a humanitarian corridor. A vote is expected within days.

What happened during Project Freedom?

Iran’s Revolutionary Guards navy warned of a “firm response” if ships deviated from its approved route through the strait. Iran’s chief negotiator said Tehran “had not even started yet” in negotiations, following a spate of attacks in the crucial trade route.

Iran fired missiles and drones at US forces on Monday. Washington said it struck six Iranian boats it accused of threatening commercial shipping, marking the sharpest escalation since a month-long truce began. US Central Command General Dan Caine told reporters that forces remain “ready to resume major combat operations if ordered.”

The United Arab Emirates said it intercepted a barrage of missiles and drones from Iran for a second day. Iran “categorically” denied the claim. “The armed forces did not launch any missile or drone operation,” Iran’s Khatam al-Anbiya command said.

What is Iran’s position on the Strait of Hormuz?

Iran’s parliament speaker Mohammad Bagher Ghalibaf called the situation “intolerable” and warned that the US “malign presence will diminish,” as Tehran vowed to retain control of the strait. Iran’s President Masoud Pezeshkian said Tehran remained open to dialogue but rejected US “maximum pressure” demands as “impossible.”

Iran’s Foreign Minister Abbas Araghchi arrived in Beijing on Tuesday, where he is scheduled to meet Chinese counterpart Wang Yi on Wednesday. Talks between the US and Iran remain largely deadlocked, with only one round of direct negotiations completed so far.

How are global markets responding to the Hormuz crisis?

European and US stocks advanced on Tuesday after the pause was announced, while fears over ceasefire collapse had already weighed on Asian equities. Elevated energy costs are adding to economic strain and creating political pressure on Trump ahead of midterm elections. European allies warned that prolonged disruption would hit their economies directly.

Danish freight giant Maersk confirmed one of its ships had transited Hormuz under US escort during the operation. The UAE called the Iranian attacks “a dangerous escalation,” while Saudi Arabia urged a political solution. EU chief Ursula von der Leyen said Gulf security has “direct consequences for Europe,” and leaders from Germany, France, and Britain called on Iran to return to the negotiating table.

Israel’s air force chief Omer Tischler said the military was ready to “deploy the entire air force eastward if required.” Military chief Eyal Zamir added that Israel’s army remained on “high alert” and ready to respond to threats in the Gulf. The war, sparked more than two months ago by US-Israeli strikes on Iran, has battered the global economy despite a weeks-long ceasefire.