Washington DC [US], June 12 (ANI): Hours after warning that the United States could strike Iran 'very hard tonight', President Donald Trump announced to halt planned military action, despite earlier threats to target Kharg Island and other key Iranian oil facilities.

He said the decision came after reaching high-level agreements with Iranian leaders and other key nations, while the US naval blockade will remain in place until the deal is finalised.

In a post on Truth Social, Trump wrote, 'Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening.'

'Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalised -- Time and place of the signing to be announced shortly,' the post read.

A few hours ago, Trump reiterated a warning that the United States would strike Iran 'very hard' amid ongoing diplomatic efforts to finalise a peace deal with the Islamic Republic, adding that the strikes are planned for 'tonight'.

In a post on Truth Social, the US President stated that Washington, in the 'not too distant future', will take control of Iran's Kharg Island, which functions as the main terminal for almost all of its oil exports and other oil infrastructure, aiming to dominate Tehran's oil and gas markets.

He drew a comparison with Venezuela, stating that US control of its oil resources has worked 'brilliantly for both Venezuela and the United States of America'.

He also reiterated his claims that Iran's Navy, Air Force, radar, anti-aircraft, and most offensive capabilities are gone.

'The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT. At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America,' the post read. (ANI)